In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we look at a good technical setup in EURUSD.
Yesterday was a particularly volatile trading day so we are very interested to see whether we get the follow-through trade today. As we look at the EURUSD, we can see price pulling back from its 1.1026 low to the 1.1200. Prices have then consolidated around the 1.1200 level for the last 6 days. As a result, we are watching carefully to see if price breaks below the consolidation low of 1.1161, at which point this market becomes a high probability trade to the downside.
Definitely a market to watch while paying close attention to risk and reward. Basically, be reasonable with your expectations in these summer markets.
Good Technical Setup in EURUSD – Full Video Analysis
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