14m 52s: Lenght

To Get Ross' Free Forex Update Analysis - Click Here: http://mytotalsupport.com/cpv/base.php?c=86&key=fd5d14f7ec45b14d31a944108238114b&ls=youtube&keyword=forex_trading&ad=UXJg35cLOfQ Taking it on over to the Euro versus the US Dollar [EURUSD]. Just the exact opposite here on the EURUSD. Long-term, we’ve been in a range since January of 2015. We’ve looked at that many times in the live Trade Room. Now pushing higher, last week into resistance highs, into the 1.1300s, and now falling back just like the USDCHF, except the opposite. We see it falling back into support here on the EURUSD. Let’s go ahead and zoom it in a couple of times here to give us a real good sense of that. There’s the rise. There’s the fall back into the orange zone. Again, incidentally, orange-shaded area. I think the color is coincidental, but it is the orange-shaded area that’s our main focus for the day today. Staying within it and if we get back above this orange zone, which is above 1.1315, we might look for the continuation back towards at least the last resistance high into the 1.1350s. On the downside, if it breaks underneath, if we see the sellers stay in control, breaking underneath we’ll call it 1.1290, which is the bottom of that orange zone, we’re back into the yellow zone, which is into the 1.1230s to 1.1240s, and that’s right underneath the current market. I think that would be a very interesting move because that would also challenge the green trend line that’s coming down from the top and the 100-period moving average into the low-1.1200s. So, it’ll be interesting to see if it does that, but clearly we’ve been on the rise. So, I think, if anything, right now you’re likely looking for focused energy into the upside, maybe buying this support zone, targeting the blue zone again, and you know what the risk is. A breakdown of the orange zone. Let’s go ahead and take it down to the four-hour timeframe. It’s attempted to break down through the 1.1290-level so far this week, but so far unable to. I’m going to put that line right at 1.1290. So far been unable to break underneath there. So, open and close underneath the orange zone, I think we do look for it to fall back down to the yellow zone. Staying above the orange zone or getting back above the orange zone, 1.1315, we look for it to challenge the highs again into the blue-shaded area for the EURUSD. Moving on over to the GBPUSD. A little bit of a range here as well. Look at the black box down at the bottom. We’re right smack in the middle of that black box. So, really, relatively speaking, it can go in either direction. I think we do have a bearish bias for the currency pair, but last week was very nicely to the upside, so definitely watching for that and the possibility of taking a turn back to the top of our range is still there. Let’s go ahead and take it in to the four-hour timeframe. Again, we’re right smack in the middle. Look at that black box. We just looked at it on the daily. The yellow-shaded area is kind of a hinge point in the middle of that wider range. We could see back here, where the circles are, the blue circles and the green circle. Many times above it. Finds support to go higher. Many times underneath it. Finds resistance to go lower, and we’re toying around with it right now. It’s been above it. It’s been below it. And it’s just really not really making any significant headway in either direction yet this week. So, what we want to watch for likely is a couple of things. Above the blue-shaded area, if it breaks the last high, we’ll probably look for it to go back up again. Below the purple zone, we would look for it to go back down and challenge the lows, but right now we just see it kind of waffling around in here between the blue-shaded area as resistance, the purple-shaded area as support, and again, that yellow-shaded area as somewhat like a hinge point if you will. Above it goes higher. Below it goes lower. https://www.youtube.com/watch?v=UXJg35cLOfQ 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.