Hello traders welcome back to a new trading week. Traders my most important comment is to be very alert on your trading this week as we see the Brexit vote will be this Thursday and there is nor correlation in the movements. Myself I am just going to wait till it is over than I will start trading again, Do not risk your hard earned money when you do not have to and I understand that does not pay the bills for those of us who trade full time. The dollar index is now at 93.56 last week it was at 94.98 this is how crazy the market is.
OK let us look at the EURUSD for the plan for today looks like we have a potential trade at the London open. I ahve marked on the chart the support and resistance levels and we have bounced off resistance and showing bearish candle formation. I am just waiting for the London open and sell this at the price level of 1.1340 and I will sell this. I am looking to take profit at support at the 200 ema my price to take profit is the level of 1.1280 as you can see where I have placed the support zone.
Thank you traders and we will talk soon……….William