*
skip to Main Content
enquiries@thearmchairtrader.com

Good morning traders.

I will be keeping it brief this morning as we are making some changes to the website here. I´ll add any interesting / useful macro stuff as we go through the week.

We have no data slated for today. On Wednesday we have FOMC meeting minutes and Thursday German flash manufacturing PMIs.

The Daily Chart

The downtrend continues and we closed below the important 1.1176 levels Friday which I suspect opens us a test to the yearly lows at 1.1110s. If that gives the low 1.10s are the next port of call with 1.0850 below. However, we seem to be making shallower swings since the start of this year so whether we get down to the 1.0850s is more of a stretch than the 1.10 figure to fill in the void marked on the chart by the grey rectangle.

The Hour Chart

As I write on Sunday afternoon it looks pretty clear where the levels are. S1 is down close to the 1.1110m low and R1 at 1.12. Any first test on either of these two levels is highly likely to be faded.

Have a good day and hopefully we will be fully back up to speed within the next day or two.

Share this article

Mark Wogan

Mark Wogan

Hi. I started my investing / trading career in 2000 and since 2011 I have been trading on a full time basis.

My focus here will be the currencies and in particular the EurUsd pair and I will post my charts on a daily basis marking up the levels I´m interested in and comment on the bigger picture context and anything else I´ll be watching out for during the day.

I also do a little coaching on a one to one basis so if you´re interested in learning how to trade just give me a shout and we can have a quick chat.

https://www.markwogan.com

Sign up for Diary of a Trader

Get Mark Wogan's latest diary entry every weekday morning at 8am (UK)

More from Mark Wogan

Advertisement

Back To Top