Trade plans

Pre NFP notes.

Looking at the EURUSD today.
Made new low of the week this morning and was picked up strongly just ahead of the Yearly Support2 pivot level.
The Bund action suggests we should consider EURUSD to be a Buy on Dips for now.
Preferred levels to buy after the news is 1.0530 and if stretched to 1.0510 this level offers the better risk to reward.
targets on the upside are 1.0610 to 1.0620.
A break and strong hourly closes and day close in the 1.0600s suggests potential for 1.0700 to 1.0800 in the course of the rest of the month.

Keep it tight and trade to trade another day.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.