10m 36s: Lenght

To Get Ross' Free Forex Update Analysis - Click Here: http://mytotalsupport.com/cpv/base.php?c=86&key=fd5d14f7ec45b14d31a944108238114b&ls=youtube&keyword=forex_pro&ad=AMPkYC0ltI8 First off, let’s get started here with the EURUSD. Of course over the past several hours, we’ve seen a rise out of this currency pair, reaching into new highs that we haven’t seen for quite a while. We’ve pushed all the way up into the 1.1400s, the green-shaded area that you see at the very top of the chart. This isn’t a new level for the EURUSD. We’ve seen it as resistance before if I take this little, black box and put it right here. So, all three of the colored boxes that you see. The blue box on the left, the red box in the middle, and the black box on right. All three of these periods, we saw resistance between 1.1400 and 1.1430 or so, and today no different. So, if we’re going to see the continued rise, if the EURUSD is going to continue to go up even on today’s significant volatility, it’s going to need to break through that 1.1430-level. If it can get through 1.1430, it’s a very good possibility we’re back into the 1.1500-level, and of course above there, we could see even a continued rise into the 1.1600s because we’ve seen it before. I’m just going to be very cautious about going long and buying this currency pair. Now, I know today it’s been pretty bullish for the EURUSD, but I want to be cautious about buying at the top of a move. Buy low, sell high. Doesn’t ever make sense risk-reward-wise to buy at the very top until we see the breakout. Let’s go ahead and zoom it in one more time. And as you could see, back here resistance, here resistance, here resistance. It’s really only once we see the breakout, the significant open and close above this green zone do I expect we’ll see the continued move towards the pink-shaded area. As long as it doesn’t do that, this is acting as resistance, and we don’t want to buy under resistance. It never makes sense to buy underneath resistance. If you’re going to even consider buying the EURUSD today, one of two things needs to happen. It needs to dip back down to support, which would be the blue-shaded area – 1.1375 to 1.1350 – or breaks above the green-shaded area. So, one of those two things needs to happen before you would go long. Now, if something surprises the market and we start to see the fall off for the EURUSD, resistance becomes your selling opportunity. The green zone or once again back underneath the blue-shaded area becomes your opportunity for going short here on the EURUSD. So, watching both of these levels. The green zone and the blue zone as our point of interest for the day today. Again, the green zone. 1.1400 to 1.1430. Above there goes higher. Below it finds resistance as it is right now. The blue zone – 1.1375 to 1.1355. Above it has support to go back up again. Below it begins the next fall back lower again. So, we’ll definitely watch today’s news and see how the market continues to handle that, but currently the market is bullish. Take it down to the four-hour timeframe. Again, you could see the spike into the green zone. Resistance and falling back. Again, back under the blue zone, as I mentioned, could be the next fall back lower again. Above the green zone is where you will look for the continuation higher for the EURUSD today. https://www.youtube.com/watch?v=AMPkYC0ltI8 Disclaimer: This video is for general information only and is not intended to provide trading or investment advice or personal recommendations. Any information relating to past performance of an investment does not necessarily guarantee future performance. Forex Traders Daily including its analysts shall not be responsible for any loss that you incur, either directly or indirectly, arising from any investment based on any information in this video. Please remember derivatives and FX spot carries significant risks and may not be suitable for all investors. Losses can exceed your deposits.