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EURUSD Weekly Analysis Aug 16 2015

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EURUSD Forex Trading Weekly Analysis – Week of Aug 9, 2015

Over the next few days, I will have a short-term perspective and bias on EURUSD as price is currently range bound.  I will be observing price as it moves between the support and resistance zones highlighted in the chart below while observing price action for a longer-term swing setup.

EURUSD technical analysis
Forex weekly analysis for EURUSD August 9-14 2015

(1) Resistance

My initial bias will be to look for price to make a slight move higher in the area marked (1).  If this occurs, I will be looking for signs of a reversal lower and will sell EURUSD closing the position in the area of support.

(2) Support

If price first moves lower into the support zone, I will be looking for price to drop to the area marked (2).  If this occurs, I will be looking for signs of a reversal and will buy EURUSD with a profit target in the resistance zone.

EURUSD Weekly Analysis – August 9-14 

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EURUSD Weekly Analysis – Aug 9, 2015

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Forex Trading Psychology Decision Making