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Main » 2017 » October » 09

EURUSD: test of the B-B channel expected


On Friday the 6th of October, trading on the euro closed up. Before the US data was released, the euro/dollar pair was trading within a 30-pip range of 1.1686 to 1.1716. Volatility on the pair surged as the NFP report was being published. The rate initially reacted with a 40-pip drop to 1.1670, followed by a 69-pip surge to 1.1739. These sharp fluctuations continued for a couple of hours before the pair entered a sideways trend.


Views: 137 | Added by: mik | Date: 09.10.2017 | Comments (0)

Short-term trading idea FX EUR/USD – bull speculation: right shoulder to form

Trading opportunities on the currency pair: Since dropping to 1.1662, the rate has formed an inverse head and shoulders model on the daily and weekly timeframes. For its completion, the right shoulder needs to form with a target of around 1.1880 by 23/10/17. By the end of October, downwards movement should resume. Therefore, from 1.1880, we can start betting on the rate to decline. It seems to me that ideally, this reversal model won’t work out. Trade carefully.



Views: 125 | Added by: mik | Date: 09.10.2017 | Comments (0)

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