Hello traders good to be with you on this Monday August 1st and the start of a new month. Just a note we are filled with data in all sessions today so please be alert to that. We also see oil is around the 40$ P/B as of the close on Friday.
Today we look at the EURUSD as we can see the trade plan is very easy. Price is at resistance and we are looking for a selling opportunity. I would like to see price break below the daily pivot point and the 55 ema. I am looking to enter at the price level of 1.1135 after some conformation. I am looking to take profit at the support of the S2 pivot at the price level of 1.1024. This is a very simple trade plan as we have data all day we just need to be patient and let price action to us for the entry.
Thank you traders and we will talk soon…….William