To Get Ross' Free Forex Update Analysis - Click Here: http://mytotalsupport.com/cpv/base.php?c=86&key=fd5d14f7ec45b14d31a944108238114b&ls=youtube&keyword=forex_trading_training&ad=lrvTVfuuKYk Green zone of course is our support. That’s right around the 1.0545, 1.0565-level, is the green zone. That will of course be our first clue or first area of support for the day today. The green zone. 1.0545, 1.0565. Of course if it could break underneath 1.0545, underneath the green zone, we know that the yellow zone is down there as our next potential support into the mid to upper-1.0400s, which we saw in that multi-month viewpoint from the weekly timeframe. The bottom of the range is the yellow-shaded area. If you’re going to go short, obviously the best place to go short today would be the purple zone, and of course your risk there is that it breaks above the purple zone and goes higher, back to the blue zone. So, we know where our decision zones are for the day today. Zoom it in a little bit. If you’re going to go short, selling into 1.0620 will be your best opportunity to sell resistance to target the next support for the EURUSD in the direction of the trend. Down to the GBPUSD. Similar situation. We have been in somewhat of a range here if you will. The green zone up here at the top, right about right here. 1.2510 to 1.2545 has been resistance for a while now. Take a look back here, over the past couple of weeks. Yellow zone. We’ve seen a lot of support around here. That’s where we are right now. 1.2385 as support. If we’re going to see this go lower, it’s an imperative that it breaks 1.2385 for our next opportunity. We don’t want to fall prey to a false breakout. Let me zoom in one time. This right here: false breakout. Right back here, where this green arrow is. So, we don’t want to fall prey to something like that, so we need a significant breakout underneath 1.2385, so this doesn’t happen to us. We don’t want to sell it and this turns around and goes back up again. So, if we’re going to go short, sell this currency pair. We need it to break 1.2385, targeting 1.2320, the orange zone, or into the 1.2200s on the way down. If you’re looking for a buy or a long opportunity, I suppose you’re at your very best opportunity to do that today here into this area into the yellow zone, and you target back to the green zone. I still think going short on this pair is really the dominant direction I am focused in on for the GBPUSD. USDCAD. We are are in an uptrend. That’s the first thing. We’re in a little bit of a consolidation or contraction pattern if you will. Maybe even a little triangle pattern if you will up at the top right-hand corner of the chart. You see the blue trend line representing the falling highs. The black trend line: rising lows. We’re consolidating, contracting inside that triangle between the blue and the black trend line. At some point in time, we’ll see the breakout of this pattern. It’ll either break to the topside to go higher. To the bottom side to go lower. Let me just mention 1.3495 to 1.3470 is the green zone that the congestion is at right now. Below it, goes lower. Above it, could go back higher again in the direction of the trend. Yellow zone. 1.3545 to 1.3575. A breakout above the yellow zone, the red line there, would look for the continuation of the trend. The blue zone of course. 1.3425 to 1.3400. Below that, could signal a reversal for this currency pair. Really we need it to break this consolidation or contraction pattern. Four-hour timeframe. It’s just bouncing around inside this green zone. So, if you’re looking for an opportunity to trade the USDCAD right now, I think you’re more likely looking, at least for the intraday today, for a breakout of this green zone. Above it, would look for it to go higher. Below it, would look for it to go lower. Once again, 1.3470 at the bottom. 1.3495 at the top. A breakout goes higher. Higher, above the green zone. Lower, below the green zone here for the USDCAD today. https://www.youtube.com/watch?v=lrvTVfuuKYk 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.
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