Possible EURUSD Trade setups

See callout bubbles. With EURUSD event risk, we have two possible areas that we can find buyers and/or sellers. Why not see if we can play both? If price correct up to Sellers zone, go Short. If price drops into Buyers area, go Long. I want to see EUR event risk shake up this pair and take action accordingly ; )

Always measure your risk and be okay with being wrong ; )

P.S. I'm only selecting 'Short' for this one because the current trend is indicating that we should be Short EURUSD. However, we need to be careful because the chart is telling us that there are buyers below current price.

Trade active:

Price has come into our zone. My guess is that price could come very close to our stop before turning around, so let's just hang in there, be patient, measure our risk, and not worry about it and see if we get some USD strength to take us down to the demand area below.

The EUR has been making lower lows which tells me that Short might be the correct side to be on. Also, the EUR is looking weaker across the board on most timeframes across most pairs.

Let's take a stab at this short and see what kind of move we get from USD event risk later on.

Always measure your risk and be okay with being wrong ; )

Trade closed: stop reached:

We were wrong about USD strength and that's OK. Stopped out for a small loss and we live to trade another day ; )

EURUSD looks like a heads shoulders which helps me keep my short bias although I'm currently not in EURUSD short.

DXY and USDOLLAR are also forming head and shoulders patterns, so I'm scratching my head.

Don't worry about WHY stuff is happening - you'll get burned out and suffer trading paralysis. Just buy where the buyers are, and sell where the sellers are. It really is that simple.