This technical analysis video is a brief overview of price action in the EUR/USD on August 13, 2015. Today, we observed whipsaw activity in the pair, as the market attempts to understand the CNY or Yuan currency devaluation by the PBOC (People’s Bank of China), and the true outcome on the Greek Bailout vote. The EUR/USD was under selling pressure during the Asian and European Trading Sessions, but rose on demand, during most of the US Trading Session. The common currency traded within a 109 pip range from the session high at 1.1189 to the session low at 1.1080, which are critical levels of support and resistance. The euro closed nearly flat for the day in comparison to the dollar, only 10 pips below its opening price(1.1161) at 1.1151. In this video, we clearly identify support and resistance levels for the next trading session, as well as potential trades you could have entered for the euro vs. dollar.
Marvin Perry has been an active trader within the Forex market since 2010. He attended the University of Illinois in Urbana/Champaign, and graduated in 2002 with a double major in Cell and Structural Biology and Chemistry. He currently serves as an FX instructor & Quantitative Analyst for the Forex Anatomy Private Trading Community called "The Lab", where he conducts live weekly trading webinars & instruction on Fundamental Analysis & Inter-Market Interpretations of dynamic asset classes and their influence on currencies.