akyong
Short

EURUSD: Selling into rally

FX:EURUSD   Euro Fx/U.S. Dollar
133 0 3
Best Opportunity

Buying USD into today’s economic data.
Most of the expectations are to the upside, which is inline with the overall fundamental.
Selling EUR and GBP into next week event and current sentiment.
EUR minimum bid rate and press conference next Thursday.
GBP Inflation Report was dovish.

Best Price

EURUSD             as price is currently still trading higher, presenting a better price for shorting. Price is currently at 1.0660. Will look to sell as price rally towards the 1.0700 region with a 61.8 fibonacci confluence. Price however is already below the daily averages.

EP @ 1.0700
SL @ 1.0735
TP @ 1.0600

Trade Management

Should US data comes out overall negative later today, our bias still remains but will look for better prices to short EURUSD             and GBPUSD             .

US Bank holiday tomorrow. Expecting liquidity to fall and would have to closely monitor any positions running.
Chief Currency Strategist
Alpha Play Forex Trading School - www.alphaplay.com.sg
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