Trade for the week Fiber (EURUSD) 120916

1. ECB failed to act – Euro strength
2. FOMC highly likely to leave rates unchanged next week – USD weakness
3. Price on daily at support with a stochastic moving up
4. Price on H4 opened at WM2 and has moved up
5. I have trapped price in a range on H1 – will trade breakout according to the below charts. Bull target for the week WM4.

Keep an eye on FOMC speakers – what they say will affect how the market trades USD before 21 September. Also keep an eye on Euro news. Remember – fundamentals moves the market, technicals just tell us where to get in and out.

Note:
a. Please read Kate’s post on Forex Major Currencies Outlook everyday so you are up to date with the latest news. You can follow Kate here
b. Please be aware of risk events for the day by using the Forex.Today calendar
c. Watch Wayne’s webinar daily at 13:30 SAST or catch the recording on the Forex.Today Youtube Channel

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