Yahoo Finance EUR/USD Price Forecast – Euro Struggles With Major Figure
The Euro broke down a bit during the trading session on Tuesday, slicing down through the crucial 1.10 level. At this point, the market does look like it is a bit vulnerable but what will be most important is where we close during the trading session. At close above the 1.10 level would be rather bullish, just as a close below it would be rather negative. Quite frankly, it looks as if we will continue sawtooth right along, as the markets are doing everything, they can to wipe out trading accounts.
EUR/USD Video 01.04.20
At this point, the one thing that you should be aware of is that small position sizes are the only thing that can protect you from this type of action. After all, there will be plenty of time to make bigger longer term trades. It at this point, it’s about protecting your account and trying to pick up a little bit of profit along the way. The trading action reminds me very much of 2008, when it seemed like somebody was getting blown out every day. We have seen large firms capitulate to the trading action as of late, as margin calls have been a major problem for futures, equity, and currency traders. At this point, simply surviving this time is going to make you a better trader as you will have learned how to handle some of the most difficult markets out there. For myself, I have simply been trading much smaller positions in looking at bigger picture types of trades. Another thing, it’s going to be crucial to get rid of losers right away.
This article was originally posted on FX Empire
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