EURUSD is currently moving sideways and is hitting a support zone. Depending how price action is evolving the next hours and days either a long or short setup is going to be manifested.
For now, I'm on the side line.
After last week sell off, EURUSD is due to a bounce, and I'm interested in going long in the marked area.
Although I'm overall bearish on EURUSD, I think we can go towards the 1.112-ish level again.
I have been long scalping EURUSD last week as I think shorting at the current levels is too risky. However, when going long, keep your stops very close.
Price action this week was dominated by better than expected CPI numbers. And we sure have another volatile week ahead of us.
Sept 21: FOMC Rate decision
Sept 22: Mr. Draghi speaking
My guess is that FOMC will not raise rate for now. However they will be passing the message to the markets a rate hike is to be expected in December. Such an hawkish message could...
Mixed numbers again from US. NFP below consensus, which was expected as it is August, however EURUSD did not profit a lot from this number. It could be that the number is seen rather good considering the full employment is nearly reached.
However, as hawkish Yellen and some other members of FOMC may be, this does not mean a rate hike in September is...
On Friday, EURUSD had a rough time due to the attempted coup in Turkey.
I expect that market will start to "ignore" this news event when no other serious developments take place over there.
In my view, EURUSD can bounce a bit towards the 1.106-level again.
I'll keep watching price action for now, and if a setup in line with my strategy develops, I will open a...
EURUSD currently in neurtral zone for me. Difficult to predict price action at this time with the Brexit aftermath.
However I defined some areas of interest: a short term sell zone and a buy zone.
Let's see how it plays out. For now, I don't take any position.
EURUSD is approaching some important resistance levels at 1.1235 and 1.1205
If those levels hold, we could see a move upwards. A move below 1.1200-1.11905 invalidates the setup.
Keep in mind we have an FOMC meeting and upcoming Brexit referendum. Outcome of these events will cause volatity.
Disclaimer: information represents my view on the market and is not...
Friday June 3, NFP came in bad with only 38K. However, this number is biased by Verizon strikes.
On Monday June 6, Janet Yellen will speech again. I guess she will make the same conclusion on the bad NFP number and repeat her statement that interest rates will 'probably' increase in the coming months (read July or September / December).
Short zone: box on...
Long scalp till 1.13300. If it breaks, run the trade. If it doesn't break, close it.
Asian session can invalidate this setup.
Disclaimer: This is merely my point of view on the current situation. Don't see it as trading advise. Trade at own risk.