Directly from Vladimir Ribakov's Live Trading Room

Today we are going to follow a possible Bearish trade for the EURUSD.  If we look to the Daily chart we can see that we have a nice support line at 1.3025.  We also have a trend line that has been broken.  The RSI indicator has also crossed the 50 line so it seems that the market for this pair is Bearish.  How to join? Very simple if we get a break and a close below the support area we will wait to see if price holds on the retest.  If price holds that will be our signal  to go short and we will be aiming 1.2655 as our target.

EURUSD

EURUSD trade setup for March 15, 2012

EUR/USD Pivot Points (Time Frame: 1 Day)

 

Name S3 S2 S1 Pivot R1 R2 R3

Classic
1.2926
1.2965
1.3012
1.3051
1.3098
1.3137
1.3184

Fibonacci
1.2965
1.2998
1.3018
1.3051
1.3084
1.3104
1.3137

Camarilla
1.3036
1.3044
1.3052
1.3051
1.3068
1.3076
1.3084

Woodie's
-
1.2967
1.3017
1.3053
1.3103
1.3139
-

DeMark's
-
-
1.3074
1.3039
1.2989
-
-