Euro Currency Futures Day trading strategy

Our trading strategy for the euro involves the short term bull price channel, the previous day’s trading range, and the previous price wedge below us.

We have seen the buyers fail many times this week, so we’re keeping an eye on the buyers again today if they push price above the PHOD we will look for the fake-out breakout and then sell when it re-enters the range from wednesday below the PHOD. 

Euro Day Trading Strategy

As price rises im selling the channel highs, and looking for the buyers to fail above the PHOD.  if the buyers are on strength I will be a pullback above the PHOD 1.3290.

If price falls I want to sell below 1.3216 PLOD, above that we need to look to fade the breakouts because the price wedge we see on the 13-range chart.

The euro currency futures trading strategy using the 55-range is further-defined with the double-bottom which will give us plenty of resistance to sell overhead.  We will buy a pullback above 1.3300 and look to sell the re-entry back below the PHOD. 

The Euro 34-range chart shows us that the PHOD has been tested and traded around too many times, so we will ignore this level now and use the wider trading range marked in the green box.