Ahmad Hassam

Dollar Index Faces Two Important Key Levels on the Daily Chart This Week That Can Make Dollar Weaker Against Other Currencies

Forex Mentor PRO Program focuses on training traders how to trade on H4 and D1 timeframes.

 

Lahore, Pakistan -- (ReleaseWire) -- 07/08/2014 -- Pierre DuPlessis from Forex Mentor PRO has released his Forex Weekly Analysis. Forex Mentor PRO Program focuses on training traders how to trade on H4 and D1 timeframes. Anyone interested can try Forex Mentor PRO Program for 7 days for $1 only.

This what Pierre says about the forex week ahead: “In Forex Trading you can never ride on the success of the previous week as this market have `Ears` and tend to come and bite the cocky one`s out there.

Sometimes I think this beast ( Forex market) is alive and know just when to come hunt us. Yes mates, when we're `Vulnerable on the high of our success` the market will came, sneak up behind us in the dark, jump all over us and then leave us to bleed to death if you not careful!

Take note of my time frames this week as I have more daily charts than usual open and remember, if we make new highs/lows without any pullback to the original Earth and Sky Zone – follow price with your fib to get the new potential trading zone for the week; looks like the Euro Index is trying to make new lows as I am tipping this – so please have a look.

My eyes will be on the Dollar Index this week. We are at very key levels if we look at the Daily chart. Currently we trapped between the 38.2 and 50% fib with two mother in laws, a monthly main pivot in this area too plus add some previous support/resistance to it – then this can be a very big roadblock for the Dollar Index. If the 80.34 level holds its ground – price can easily fall back from here making the Dollar weaker against the other currency pairs; so take note of it.”

About Pierre DuPlessis
Pierre DuPlessis lives in South Africa. He joined Forex Mentor PRO program as a student. Now he is one of the mentors at the program and trains the members on how to trade on H4 and D1 timeframes.

For more information about the Forex Mentor PRO program 7 day trial for $1 only, please visit the following website
http://www.forextrading22.com/662/forex-mentor-pro-program-7-day-trial-for-1-only/