This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Waiting for a Sell Signal on Euro/U.S. Dollar, Buying a Pullback on the Pound/Dollar

EURUSD - Euro/dollar weakness persists, looking for sell signal

NEW YORK (TheStreet) -- Since our last discussion of the euro/U.S. dollar ratio, it has continued to weaken. We can see that sellers are still clearly in control of this market and bearish momentum is persisting.

Read More: Cramer: Every Which Way But Short

Considering this, we prefer to look for price action selling opportunities, in line with this recent bearish momentum. Traders can watch for price action sell signals up near resistance around 1.3548 in the coming days, if price rotates higher.

EURUSD-JULY-24-2014

GBPUSD - Sterling/dollar rotating down toward key support

The ratio of the British pound against the U.S. dollar continues to retrace lower, as we discussed in our weekly price action preview this week. The longer-term (weekly) trend is still up, and so we will watch key support levels for buy signals in the coming days as this market continues to fall. We are paying close attention to the key support level down near 1.6920 and down to about 1.6820 for buying opportunities in the coming days to rejoin the longer-term uptrend.

GBPUSD-july-24-2014

Copyright 2014 - LearnToTradeTheMarket.com

This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $132.87 0.17%
FB $81.36 -0.67%
GOOG $554.63 -0.13%
TSLA $233.13 0.68%
YHOO $44.54 0.41%

Markets

DOW 18,106.10 +68.13 0.38%
S&P 500 2,113.27 +4.35 0.21%
NASDAQ 5,068.2760 +8.03 0.16%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs