Hello traders welcome to a new trading week. Traders today is the day after the NFP data and was a large number and good data for the US session. I am not expecting much price action today as we have no high impact data today. Be very alert to your entry today and monitor your charts. It will be a technical trading day on a Monday….. OK traders as we do every Monday we start with the currency pair most traders trade at some time.
Let us look at the trade plan for the EURUSD- This is the 30 minute chart. This pair is looks to be sideways after the sell off from NFP. We are looking for a retrace to the daily pivot point that is now resistance and sell their pair. I would like to sell this at the price of 1.0767. I am looking to take profit at the S2 reversal pivot at the price of 1.0597. This really looks like a nice trade set up for today.
Thank You traders and we will talk with you soon….William
FX Instructor Forex Blog – For Traders, By Traders
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Hi Bill, since it is also between the 50 – 61.8 retracement it seems like a good trading idea! Thanks for sharing 🙂