Fundamental Forex news

Fundamental Forex news! Nothing in Forex goes straight up, and there were a couple dips along the way, the support lines held; the resistance lines gave way and became the new support levels; and the EUR/USD Forex pair behaved as if it were being taught in a Forex classroom.

Market Reaches Its Highs

Now it’s at the nervous part. The Forex chart is pretty close to its recent highs. The EUR/USD hasn’t traded at this level since way back in early May. It hasn’t seen 1.372 since last April, and right now this Forex market does not have far to go to reach this level. Many Forex traders may take profits and sit this one out, thinking that if it doesn’t hold this level, there is going to be a massive sell off and the proverbial Forex floor will drop out. This could very well happen. Take a look at any historical Forex chart and you’ll see how many times it’s happened to so many Forex pairings. Any time a market reaches its highs, it’s logical to become wary and a bit skeptical. On the other hand (and there always is an ‘other hand’ isn’t there?), this might just be the beginning of a new run upwards and who wants to leave pips on the table?

Clearly, if the market blows through these highs there will be opportunities to jump into the run. You will not be excluded. But it does become frustrating when you find yourself watching something you know is going to happen, and you’re doing it from the sidelines. A Forex broker very rarely, if ever, will add money to your account because you tell them “…that’s what I was gonna do.” It has something to do with company policy or something. Surely, in either case, they believe you.

Fundamental Forex News Comes In

This is where fundamental Forex news comes in. Right now, there is no fundamental Forex news to change the recent slide of the dollar compared to the Euro. The United States fed isn’t doing anything to support it at this point and it’s letting the market take its due course. This is happening with many Forex currencies paired with the USD as well. So, fundamentally speaking, the Forex market could not care less about recent highs or historical highs or anything else on the charts. The fact is, the USD is getting tanked right now and it has a direct affect on the Forex market.

Just how much the fundamental Forex news will have on the Forex market will be known very soon, but it’s something to consider. In any market, there is no such thing as “too high”.

Fundamental Forex news