EUR/USD/Trade Ideas

EUR/USD session outlook: Look to find new trading range on higher plane

     The short-term charts show quite an impulsive move higher but they also look over-stretched. Don’t forget that we are still in range-trading mode here so it’s a matter of finding the correct ranges to trade across all time-frames. Recent short positioning will have been greatly reduced on the move higher and as there has been no fundamental change in this pair, I’d expect sellers to soon exert a more meaningful influence.

Short-term, I’d suggest 1.2850/1.3125 as a likely trading range and for today’s session I’d play 1.2925/1.3010 with a neutral bias. As always avoid trading in the middle of prospective ranges and aim for the edges.

  1. I am not looking for anything but another night of observation today as current levels / ranges are beyond my skills level so Ill just spend the session(s), collecting “pearls”of wisdom. 🙂

    I have a bearish bias though, to sell at level
    1.3000/10 -> 1.2850. and then 1.2820/50 to hold for another leg up! for tonight, its just learning mode!!!!

  2. Along with, 300 DMA is at 1.2964 and its third test since 17/09/12.

    price closed at 1.2975 but it wasn’t a clean break.

    300 DMA might be a decisive factor in coming days for this pair for a direction. I looking for 1.3500 anyways

Leave a Reply

Your email address will not be published. Required fields are marked *