EUR/USD: Still stuck in classic sideways trade
Many have tried but nobody has yet convinced me that the EUR/USD is in anything but sideways trade (see chart) with weekly trend-lines coming in now roughly at 1.29/1.34. Of course it will eventually break out of this range but for now there are much more interesting pairs elsewhere. The shorter-term charts suggest a tighter 1.3050/1.3250 range and as we are currently right in the middle of this range, I’d sooner trade NZD/CAD (and that’s saying something!)
Hey,check out ur twitter handle,i got something interesting on USD/JPY.That bounce from a fibo level kinda excites me.Good omen on upcoming US Data?What’s your take?Cheers
Hi Sean, you also feel that CAD overbought compare to AUD and NZD??
Sorry Jack, no idea whatsoever on CAD
Hi Banya, USD/JPY overall tendency lower I think as mkt overall still long BUT will stop everyone out top and bottom
OK, BTW thanks for your EURJPY idea, 90 pips profit, appreciated that
Shall listen to u half-heartedly since i have been on a losing streak lately.Learnt a long time ago,the most important thing for a trader is to impose stops.That way u stay liquid and in the game for a very,lonnnngggg time 🙂