Friday’s troubled market in the US has forced the Dollar to slide down quite rapidly despite good number from the US Trade Balance than forecasted. The Euro and the Pound becomes the beneficiary of the sliding Dollar.
Next week, especially Monday I expect the Euro may hit my expected target of 1.5982 or within the area of 1.5980’s, and there maybe a possibility that the Euro may hit 1.6000 level if the crude oil price hit or break the $150 level per barrel.
Despite the above analysis I will only execute my Euro entry without the assistance of EA, if it retrace to 1.5885 levels and keep a tight stop of 30 pips. However, the opportunity of using an EA to trade the Euro will also be good by next week. This week the EA give me a profit of well over 80 pips. Alternatively, if the Euro traded against the Dollar below 1.5850, I will not dip into the market except with the assistance of EA to find the right level to execute the trade.
I will stay aside from trading the GBPUSD pair as I feel uncomfortable with the market movement for the past few weeks.
Until next week, happy trading guys ;)
Recommended & Trusted Broker:
No comments:
Post a Comment