EURUSD and its coming movements Hi fellow traders,
Fascinating wise has EUR moved forward vs USD last Friday due to bad NFP released data from USA. Its moving forward has reached the upper zone channel level and probably is now in the upward movements to reach the price level at 1.160xx.
My trading plan for EURUSD is described on this chart, just take a look at it for your reference and consideration.
Personally I will do both long and short, in which at every retracement thereof I will short EU and then long, if the price action would act as planned.
According to my point of view EURUSD in a upward trend has mostly performed with failures recently, therefore a smoothly upward in the current situation of hiking rate intention from Fed in June can push the upward momentum of EURUSD slower. Hence trade with care with this pair for this year.
I will follow up with you with this pair in the coming days.
Notes: I will wake up earlier tomorrow by the Asia session and ...wait to short EU at first, take your look at each retracement but as said, it will be my own trading plan for both long and short.
Trade well!
m2m
