OANDA:EURUSD   Euro / U.S. Dollar
Now don't get too excited we could be in this range till November/December - Let me explain further why?

Fundamentally to get the markets moving :

- Uncertainty from elections - the polls may not be as trust worthy just like it was yrs ago..
- We are still playing circus act with stimulus ( QE )

Whilst this plays the same way - we will be in a range until things have settled with those two fundamental drivers.

Technical view :

- Formation: Bear flag
- For this moment of time concentrate on the channel - until it isn't broken the Bulls are still in control - after it breaks out take the trade down or wait for the longer term buy opportunities where I have noted Buy Zones.
- Play the range, there are opportunities.

Longer term targets still stand the same as my previous analysis on EURUSD .

Key Tips: Treat trading like a business, you want to buy at the best price and sell it at a great opportunity and check where are we within the cycle economically- PRICE IS KEY.

Have a great week ahead.

All the best,

Trade Journal (TJ)

(Disclaimer: Just a trade idea, not a recommendation)


Trade active: Broken out - As long as we don't go above into channel area - price of: 1.17800-1.17700 areas act as resistance. The bears could gain further control.
Trade active: 3/4 Profit taken.
Trade closed: stop reached: I had 1/4 left - tight stop as I moved it down - Out of position at break even. However, overall profit made. Next move to keep an eye on Stimulus..
Trade active: Short - Taking profit 1.17100 Areas.
Trade closed: target reached: Target reached, now that was a trade that required a lot of patience. Well worth it! Be careful next week going near to elections results...If we get one quick!

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