Euro Exchange Rate (can you predict it?)

Should you change your money now or wait? Will Euro go up or down? I’m gonna give you my forex trader opinion. Here is a screenshot of the current EUR/USD rate, every bar/candle represent a day, so we can see from September 2012 to 25 January 2012.

(Please click on the picture below to zoom on it)

 

You can see that since July 2012, the Euro has been in an up trend (as I draw in green). This is good news for the Euro strengh. The first resistance (dark blue line) was broken by a big movement (dark blue circle), probably because of a good news from Germany hehe.

So here we are on the next resistance (yellow line), that we already broke (yay!) with great vigour.

Now to predict the future Euro price is pretty simple = if the trend (in green) is still strong, we can go to 1.35 . That means wait for this price. But if the Euro goes below 1.29, it means the resistance in yellow was too strong and we will have another drop and you should make a move right now. Got it? Post in comment if you have any questions.

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