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Hello Traders great to be back for another trading week. Just to mention we only have CAD data in the US session and JPY is on a bank holiday. This tells me we might have a slow technical day on this Monday. The currency pair we are going to look at today has been in a nice trend and we are going to continue the ride. OK let us look at the EURUSD- This is the 30 minute chart. This pair on the daily chart still remains bearish. We are looking at a very bearish 1 hour chart and the trade plan is very simple for today. We have placed the Fibonacci tool on the chart and looking for a 50% pullback. At that point we will look for a bearish candle and look to short this at price level 1.0936 I am looking to take profit at previous support at 1.0839 price level. We have only Cad data in the NY session so I expect a technical trading day and JPY is on bank holiday.
Thank you traders and talk soon… William

FX Instructor Forex Blog – For Traders, By Traders

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