Welcome to fenaghfx

This blog is not for specific trades,but to share my experience and what I have learned over the last few years, Trading involves significant risk and may not be suitable for all investors.

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I have been trading since 2008 in the fx market, trading mainly eur/usd my approach is technical,using support/ resistance .But always keeping one eye on the news

Sunday, June 12, 2011

The week ahead 12 June

Yet again Greek news dominated euro moves last week with Germany getting involved in bailout terms and talks, As for areas I will be looking at this week to the upside possible consolidation of the move down at 4375, R1 at all the fours 4444 area with the 38% fib level just above at 4464 . R2 4550 with the 61% fib on the money at 4552 which was the neckline break of the H/S pattern, R3 comes in at 4635 traders on the wrong side of eur Rate decision move, On support at S1 4306 second time back with the 50% fib from
the low 3968 to the high 4695 if this holds will be looking for correction, the 61% fib at4246 and spike at 4255 I will closely watch this area, S2 round no at 4200, and finally S3 at 4068,

Any thing can happen at any time Mark Douglas, good luck and tight stops Dave, ps top chart on 30 min time frame bottom chart 4 hr time frame,

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