Why does the trading story change?
FOREX TRADING EDUCATION: The story can change in your forex trading dependent on a lot of things - fundamentally and technically. Let's face it, seeing the distant future can be really difficult. Just ask all those economist and analysts who have projected the EURUSD would reach parity in 2016.
Earlier this week, the EURUSD moved above a key technical resistance level turning the bias higher and in my video posted on Wednesday, I commented on the reasons why. I also outlined the story that had to play out. The price moved nicely above a few levels before running into a key technical target. That is where the technical story started to change from more bullish, to potentially more bearish.
In this video, I will look at the price action of the EURUSD and show where the traders bias - and story - turned around. I also explain why it turned the beat around.
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