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.

About Me

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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 24, 2011

The Week Ahead

This week areas I will be looking at are ,firstly the last move up ,the 38% fib for possible consolidation at 4322,
S1 at 4300,+ 50% fib at 4287
38% fib at 4206 on 4hr chart
S2 at 4135 long tail big move up +50%fib
S3 at 4068 long tail+61% fib just below
S4 at 4011
R1 at 4436 last hi, big bear line
R2 at 4480 area with down channel just above
R3 at 4566 area
R4 at 4640 area

will the news finally start to take a back seat I doubt it, possible Moody's downgrades defaults American dept ceiling danger every where with no timing notice, ah,well that's trading
Good luck and tight stops Dave.

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