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, July 3, 2011

The week ahead 3 July 11

Hello traders ,Greek news finally slowing for a while , but I,m sure we have,nt seen the last of it.

Any way the areas I will be looking at this week are ,

S1 all the 4440,s this area has been pivotal for weeks now, I first mentioned it on The week ahead, May 29 where it started as a trend line break and then held twice as resistance it should now act as good support , but anything is possible.

S2 comes in at 4344/4300 I will only trade these two figures to the pip , 4300 shows as a Hockey Stick pattern which I will do a post on this week ,

I will look closely at 4236,

S3 comes in at top 4176 and low at 4124.

R1 4550, former neckline of a Head/Shoulders pattern the euro finished the week just below here ,the euro bulls finished the week strongly on July 1, so it will be interesting at the start of the week as always.

R2 4640 area traders on the wrong side of the interest rate decision by ECB on 9 June

R3 4700 top figure of 4717 which I talked about as a stall on a smaller time frame on a previous The Week Ahead,

R4 4843 A trend line break ,I did a post this week on my theory on trend line breaks please feel free to check post out .Under Trades

Anything can Happen at Anytime , Good luck and tight stops Dave

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