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Hello traders welcome back to a new trading day. Well traders we have made it to Friday however a lot of trading ahead. We do have data today so be alert to that and being Friday we have profit taking. The charts look very dull not much price action. I see that as the high of the summer vacations with low volatility. OK let us take a look at what I feel is the trade of the day and that is NUZUSD- This is the 30 minute chart. Traders this pair is at resistance again however the daily chart is at very strong resistance an I am expecting a reversal move to the bearish trend. So today we have current price at resistance and I am concerned it is in a range so I have placed my entry for the S1 pivot at price level 0.6534. I will look to take profit at the S2 Pivot at price level 0.6489. I am being cautious as I want to make sure this intends to continue the trend down to the short side. This pair had news in Asia and was not good and dropped some pips. Traders enjoy your weekend break talk soon …..William

FX Instructor Forex Blog – For Traders, By Traders

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