Open trading account 
It's the end of the 1st week of trading and we've gotten off to a good start. I have managed to move my account balance to $194K, only after suffering an initial 1st day loss of 25K and then rebounding from this draw down!
The forecast for the EUD/USD: We have seen on the weekly chart 5 weeks of consolidation between 108-110, with strong support around the 108.50 level. This type of consolidation is not common for the Euro as we usually see price movement either up or down after each consecutive week. What happens after a strong period of consolidation is intense momentum, one way or the other. The monthly chart however paints the true picture for the Euro. We can clearly see that as of the November 31 close of 105.19, price has found support and for the 2nd months close higher than the previous month, an uptrend has been established. Expect the Euro to breakout this week to the upside and we should see a retest of the 110.58 level & then further movement to the 115.02 level this month.
The forecast for the EUD/USD: We have seen on the weekly chart 5 weeks of consolidation between 108-110, with strong support around the 108.50 level. This type of consolidation is not common for the Euro as we usually see price movement either up or down after each consecutive week. What happens after a strong period of consolidation is intense momentum, one way or the other. The monthly chart however paints the true picture for the Euro. We can clearly see that as of the November 31 close of 105.19, price has found support and for the 2nd months close higher than the previous month, an uptrend has been established. Expect the Euro to breakout this week to the upside and we should see a retest of the 110.58 level & then further movement to the 115.02 level this month.
