EURUSD Trading Analysis
EURUSD Trading Analysis
Dear traders,
I have been looking at the USDCHF last week. Have a look at the article I wrote about it HERE.
I was not convinced enough with this pair and in the end did not trade it. There were a couple of opportunities to go short, but did not manage to take them.
I also saw a potential of being stopped out if you were in too early. All in all, last week was not a very active trading week. Usually after less active trading weeks more volatile ones are following.
I am curious to see if that rule will hold true this week
Less volatile trading weeks give me more time to think about the next big move and also help me take a small break, which in turn help me concentrate better in the following week.
I am also pondering over markets and am able to come up with thoughts like this one I shared with you on my Twitter page:
EURUSD Trading Analysis
As I said above, trading weeks like last week are usually followed by more rich in trading opportunities weeks.
I am currently looking at EURUSD and it seems like we might be about to see a continuation of the uptrend.
The price has formed a bullish engulfing pattern on the daily timeframe. This pattern is preceded by another bullish engulfing pattern that formed in the previous two trading sessions.
I will be waiting for the EURUSD open to see if there would be an opportunity to go long.
Then, I will be looking how the price will react to the 1.2500–1.2600 levels and decide if I want to take profits or let the trade run.
Happy Sunday and Happy Trading,
Colibri Trader
p.s.
