IvanLabrie
Long

EURUSD: Small long active, adding if we get strength

FX:EURUSD   Euro/U.S. Dollar
I think we can get a significant retracement in the Euro             until December at least, so I'm currently long from 1.0534, risking a drop to 1.0397, and will look to manage the position and add to it on strength.
The key levels here illustrate where to monitor for a reaction on retests, and can give you an idea of what to expect.

After today's close, if we get a smaller range day, we could look to add to longs on strength, or alternatively, wait for 3 daily bars to confirm the bearish momentum has faded. I'll be monitoring it and updating this chart once I add to longs. Once the rally is done, I think we will be able to resume the long positions in the dollar, against the SEK             and JPY in particular, but possibly against the Euro             as well. We'll have to wait and see, but for now, my preferred shorts are SEK             and JPY, once viable.

Good luck,

Ivan Labrie.
Trade active: The last daily bar justifies opening a buy stop to add as follows:

snapshot
Comment:
snapshot
Comment: Tightened all stops to Friday's low.
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