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Recap: Yesterday we shared downside and topside barriers that we believe would hold on the EURUSD:
Webinar: We are going to be holding an open webinar tomorrow to discuss all the technical variables used to provide us with that confidence. You will hear from one of our traders as they playback the action live from their trading terminal. This is a unique opportunity that shows how all of the indicators appeared before the move.
Please register below, as those who opt-in will receive our Skype ID and the webinar recording:
Today: We will also discuss our near term forward outlook on the EURUSD . We believe the EU is going to climb higher, and the moving averages, , average daily ranges, market sentiment, and so forth are also in favor of this. We are seeing some clear range expansion but would caution traders in chasing the move. A move back back below 1.13 is possible, and the short term trend remains in tact unless we violate 1.1250. Long term 1.12 is the next major barrier and unless that breaks we are likely to watch the buyers remain in control and a further short squeeze. In these situations, we will demonstrate why it's important to understand why and how scaling into trades can be implemented when there is a powerful move, so that traders don't have to miss out, but still remain protected. It's a huge discussion and is what some of the best traders in the world understand, and why they have an edge. It's all about position sizing. Every trade is different, and therefore how much is risked should be, too. Do you have a way to quantify your position size? The majority of traders don't - and that is the real reason why most will fail. We will also briefly discuss that in the webinar, so if you're interested then please sign up.