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 19, 2011

The week ahead 19 June 11

Greek news still dominating air waves in the week ahead, will it ever go away.

As for areas I will be looking at this week firstly support , possible consolidation at 4250, S1 at 4200, the break higher , a close look at 4127, S2 at 4071 , and finaly S3 at 4000 area.

Restance R1 at 4350 area ,down trendline just above , 38% fib at 4312 was also prior good support if this area holds into Monday will look for small correction lower , I will be looking at the 50 % fib level which also shows a stall on lower time frames. A close look at 4429. same on 61 % fib , at 4459, R2 at round no 4500, and lastly R3 4650, Any thing can happen at any time good luck and tight stops Dave.

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