Learn to Trade Forex

As I pointed out in my last post, if the Euro broke the 1.2980 for the upside, it was likely to reach 1.3350… guess what, we missed our target for 50 pips, its highest point was 1.3297, anyway I hope you profit from that break out.

Now the conditions have changed a bit, it is trading below 1.2673 and entered the sell zone. So I will start looking for a short opportunity in the EURUSD targeting the bottom of the range 1.2360sh (blue rectangle). Be careful though, if the market trades again above 1.2673 all shorts must be closed and start looking for long opportunities.

Have a nice week!

RL

Now that the FED has cut interest rates to 1%, and the market digested that information calmly, we are free to resume our trading (I was thinking, if the FED didn’t cut by half a point ‘as expected’, we were going to see how volatile the market could turn, but that didn’t happen so I’m going to stop writing about it :)).

Anyways, this is what I think the Euro could behave in the following days:

Euro analysis

If the market breaks 1.2980 for the upside, it is likely to continue its way up to 1.3350, but if it bounces back, a range is more likely.

Good luck!

RL