Hello BlockchainStar Boys and Star Girls, the EUR/USD currency pair viciously swung upward after trending down from the 1.2460 plateau. The EUR-USD currency pair is currently trending up from the 1.2408 support level that it found itself at after briefly deflating below the 1.2400 lines. The pair was hovering around the 1.2408 level in the late morning, but at this time about 1.01pm Eastern Standard Time, the EURO has taken charge and is heading toward the resistance level at 1.2448, where it was at 8:50 am EST, this morning. There is still a slight chance that the Market Genie could push the trend toward the 1.2500 level. In fact, the market was at the 1.2500 level at 3am on Febuary 2, 2018. So, another retest of that resistant 1.2500 area could be on the horizon.
All BlockchainStar Boys and Girls should be aware of the possible minor pullbacks located at the 1.2428 mark and the next resistance level at the 1.2440 line. The remaining resistance levels on the 10 minute chart are located at the 1.2448, 1.2460, and 1.2470 areas, respectively.
BlockchainStar Boys and Girls should remember that below each resistance level are places to take profits. If profits are not taken at these resistance locations, you will give up some or all of your gains temporarily. It is best to implement the risk management strategy of the Trailing Stop at 10 pips as a safety net or just close out a profitable position before it becomes unprofitable.
Disclaimer: These tips are strictly the opinions of the BlockchainStar trading team and is not intended to be taken as investment advice because we are not investment advisors. So, please do your own professional research.