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EURUSD Daily Forex Analysis: Reversal hits 1.3600

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In the UPDATE posted to yesterday's blog, I mentioned the daily Pivot Point as a possible pull back point. The pull back has hit that makr and exceeded it by almost 30 points. 1.3600 will be good resistence going forward since it was great support over the last few weeks. I will be surprised if it falls by the way easily. Not only is 1.3600 home to previous support but it will also be home to next weeks weekly pivot. point, which appears to be in the 1.3610 region.

Because of that, there will not be a trade for me to open the week with on this piar but I will be looking for reasons to short the pair as discussed in yesterday's post. This week has been a great week for my analysis. If you are at all wondering how I do it and what I use to get to know the currency pairs, attend one of the three weekly seminars that Jake and I do. It's face time, software and knowledge that make the difference.

As for next week I will of course be looking for short positions but there are indications that this may be a short term bottom for the pair right now. Whether you want to look at the today's candle that pierced the Bollinger Band, or the continuing new lows with a rising RSI(14), or have some other indicator you like, there is potential for a temporary bottom being built. For long positions I just don't see anything that makes me want to be a buyer right now.

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John Forex - USD decend sends oil over 80

|03

because the EUR started the week with a rise vs the USD oil trading prices go
over the 80$ mark, for the first time in a month. for more go to:

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