The EURUSD is breaking out of a triangle to the upside. Pretty simple longer term trade setup here: long with a stop just below the Fed news spike at 1.1210 and looking to take profits at the 1.1465 area.
Wednesday, June 17, 2015
Tuesday, June 16, 2015
Holding Off on Dollar Longs
The dollar has not rallied like I expected. Despite .9190 USDCHF holding, the dollar cannot find its legs and sustain a move higher. We are going into a Fed meeting tomorrow so things will get whacky, and according FXCM's Speculative Sentiment Index, retail traders are heavily long the dollar right now. So I do not like being long the dollar right now. But once the Fed is out of the way I will be looking to get long the dollar through AUDUSD GBPUSD shorts and/or USDCHF longs when the setups are right.
PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.
PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.
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