For the past few months EUR/USD is in a ranging Market.
On weekly basis the price has stopped at major support level. There is a Doji candlestick formation on Weekly and Daily time frame. So my suggestion is as follows:
Buy at current price around 1.0600
Stop Loss: 20 pips below 1.0500
Profit Target: ...
Quick Scope - Range Trade Euro/Japanese Yen
Red lines should be stops/take profit targets. So you do not get stuck on the wrong side.
But the Chart should be self-explaining how to trade this with low risk
Good Luck Trading!
Anticipated exhaustion levels for today are:-
Short @ 10632.0; Stop: 200 points, Target: 600 points or >
Long @ 10480.0; Stop: 200 points, Target: 600 points or >
Use your own entry strategy for Longs with target set for 10632.0 and for shorts down into 10480.0
These Levels mark the anticipated extremities of intraday price movement and form the backbone of an "intraday" COUNTER-TREND trading strategy.
SHORT between 50.25 & 50.40; Stop: 20 ticks; Target: 60 ticks or more.
LONG between 49.20 & 49.05; Stop: 20 ticks; Target: 60 ticks or more.
This is an "intraday" counter-trend strategy.
Expecting today's "intraday" range to be between 2128.00 and 2154.00.
Short @ 2154.00; Stop: 12 ticks, Target: 36 ticks.
Long @ 2128.00; Stop: 12 ticks, Target: 36 ticks.
This is a "counter-trend" strategy. We do not predict but instead anticipate exhaustion in price and trade accordingly.
Short @ 50.10; Stop: 20 ticks, Target: 60 ticks.
Long @ 48.45; Stop: 20 ticks, Target: 60 ticks.
Expecting "intraday" price action to range between 47.40 and 49.40. Use these levels to to anticipate a "correction" to the prevailing intraday trend. This is a "counter-trend" strategy.
Suggest Long @ 47.40; Stop: 15 ticks; Target: 45 ticks.
Suggest Short @ 49.40; Stop: 15 ticks; Target: 45 ticks.
This is a "counter-trend" strategy.
Expecting price to range between 10395.0 and 10625.0 during the Euro session.
A gap down into 10400.0 would have me looking for a counter-trend trade at 10395.00.
Long FDAX @ 10395.0; Stop 20 points; Target: >40 points.
Short FDAX @ 10625.0; Stop 20 points; Target: >40 ...
Swissy bears have been rejected at range support and bulls will be looking to push the pair higher in the coming sessions. Pair traded as low 9661 in early NY trade, but found willing buyers who managed to completely engulf the preceding sell off. Bulls will now be looking to take out the .9720 - 9742 interim ...
Any break above this level could drag USDCAD toward the next targets
Today's news (US nonfarm payrolls)
Will likely decide the fate of the looney and whether it can break out of the 1.2900/ 1.3000 range it has been stuck in