The EUR/USD is drifting between 1.19-1.20 after setting a higher low on Monday with investors trying to establish a near-term bottom. However, considerable downward pressure obviously remains and we’re currently witnessing investors biting on oversold conditions. All eyes remain on the EU due to the relatively light data wire across the globe. EU finance ministers will meet today and it is likely they will issue damage control statements which could in effect prop up the EUR/USD until Thursday’s...

A common question traders have is, what are some good tools for finding support and resistance levels? Nowadays, even the most basic retail charting platforms come loaded with tools used to find these key areas. Unfortunately, many traders are not sure how to use these tools correctly and more importantly; how to implement and combine these powerful tools. Using these tools on their own will help you identify areas of support and resistance. Using these tools together drastically increases the probability...