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Euro Day trading strategy
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| Euro 60-Minute |
The
60-minute anchor chart shows us a bullish price-channel this morning which
tells us the high-percentage-trades will be LONG this morning. We can see many buy-zones below us with a major
price-reversal level at 1.3230. If
prices fall lower this morning we will look for the point where the sellers
fail and look for a price-reversal to get long.
The best locations for a price-reversal will be at the price-channel lows,
the 3257, 3238, 3212 and 3196. If prices
rise higher this morning we are buying pullbacks considering the lows of the price-channel
are the BEST location to buy. If we get
a sideways-trading-range at the lows we will sit-on-hands and wait for a new higher-highs
to buy pullbacks or a new lower-lows to look for the price-reversal.
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| Dollar Index 5-Minute |
is rising higher this morning, inside of a bull price-channel which will push
the euro lower as well. If we’re trying
to buy the euro, this rising Dollar-Index is going to make that very difficult
right now. The best option is to wait
for the Dollar-Index to exhaust as it moves higher, which will push the euro
lower into our buy-zones (from the 60-minute) and then later in the morning we
will see a drop in the Dollar-Index and a pop in the euro. We must stay patient for that to happen this morning.
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| Euro 5-Minute |
euro chart shows us trading off the lows of the London trading Session and at
the lows of a bullish price-channel. We
can also see a DAILY support zone at 3284 down to 3272 which is all telling us
to get LONG this morning. We have profit-targets
overhead at 3301, 3321, and 3336 at the highs of the range. If prices move lower this morning we have
many levels to look for a price-reversal so we will stay patient and look for buying
opportunities.
