Hello traders good to be back with you on this new week and we have to say today we have so little data to be released. I am expect a very slow trading day and If I was not working it would be a day off. Just a note Oil has closed above 80.00$ P/B after the cose on Friday. Today we look at the EURUSD as we do every Monday.
OK what are we looking at today The move to the downside happened already in Asia and we might have missed the bus, this is because Asia is reacting to U.S. close. So we need some kind of a pullback as now we are going to the 200 ema and we can not short here. The $ did regain some strength late on Friday. This looks like a very hard trade. We are looking to take profits at the price level of 1.1259. This trade is all about patience if the trade doies not happen do not force it as we are in the Low of summer trading.
Thank you traders and we will talk soon……William