In our Daily Trade Watch, we take a look at some high probability trade setups that we look to trade over the course of the day. Today, we will be looking at Euro strength trading opportunities.
Counter-Trend Opportunities
When we look at the markets today, we can see a number of counter-trend opportunities. However, as you know, we prefer to approach the markets from a perspective of consistency. In essence, we look to trade with the market as opposed to against it. Saying that, due to the quality of today’s opportunities, we are looking to buy the EURUSD. This, in itself, is a counter-trend opportunity.
EURUSD
When we look at the EURUSD, we are looking for a continuation to the upside. So, we are looking for opportunities to buy above yesterdays high of 1.1725. This means that we are looking for either a breakout trade or we will wait patiently for pullbacks to previous resistance.
EURJPY
The other trade we have identified to watch is the EURJPY. The yen has been weak across the board recently and we expect this weakness to continue, at least, over the short term. So, we are looking for opportunities to buy above yesterdays high of 131.70. Again, either in the form of a breakout trade or the pullback trade.
Euro Strength Trading Opportunities – Full Analysis
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