Forex Video Analysis on Euro, Aud and Nzd.

On September 11th I uploaded a video review on the Euro. At the time we were down about 500 pips for the prior week and the currency pair barely had any pull backs. I mentioned that is is common to have a descent sized retracement back to prior support/resistance price area after such a sharp drop. Today the Euro has bulled back and is currently trading at 1.3873 as I am wring this blog post. The 1.3800 zone was my first obstacle to any retracement, but that has broken and the next major pivot is the 1.3900 to 1.4000 area.

The New Zealand Dollar is in a very curious area and has tried to break down 4 time with no success. If you note on the chart bellow, today a very large rejection candle has formed with a nice tail. At this point it looks like that bears are loosing control and a reversal may be in the cards for tomorrow or Monday.

The last time the Australian currency visited the 1.02000 price pivot there were big fireworks. That price zone has proven iron clad many times and until it breaks it is advisable to fade it. In the past two days the Aussie has tried to head for the 1.02000 area and has been rejected quite strongly. A nice rejection candle has formed today and tomorrow if we see a break of the high of that bar the bull may materialize.

If you would like to view a more in depth analysis with extensive commentary you may download my video analysis:

DETAILED VIDEO OVERVIEW: Forex-Overview-September-15th

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