Next week ( 9th to 14th September ) is going to be a very interesting week for EURUSD. its decision time
1.1527 to 1.1508 --- Major Support Band comes into play. We break that and we are free to head to 1.1302
if 1.1527 to 1.1508 holds then we rally back to the top of the channel around 1.1730
i have both SELL and BUY orders ready for that decision .
my idea:
1. Enter Short anywhere from 1.1575 to 1.1550 and exit at 1.1530
2. Wait, be patient at 1.1527 to 1.1508
3. If it holds and reverse then enter LONG and exit near top of the channel 1.1730
4. If it breaks then enter SHORT . Note: it might pierce it and then pull back to test that former support band (now new resistance) before a downtrend.
NOTE:
-- China tariffs
-- NAFTA trade talks
-- Emerging markets currency turmoil continues ( means Stronger US dollar and weaker EURUSD for the time being )
1.1527 to 1.1508 --- Major Support Band comes into play. We break that and we are free to head to 1.1302
if 1.1527 to 1.1508 holds then we rally back to the top of the channel around 1.1730
i have both SELL and BUY orders ready for that decision .
my idea:
1. Enter Short anywhere from 1.1575 to 1.1550 and exit at 1.1530
2. Wait, be patient at 1.1527 to 1.1508
3. If it holds and reverse then enter LONG and exit near top of the channel 1.1730
4. If it breaks then enter SHORT . Note: it might pierce it and then pull back to test that former support band (now new resistance) before a downtrend.
NOTE:
-- China tariffs
-- NAFTA trade talks
-- Emerging markets currency turmoil continues ( means Stronger US dollar and weaker EURUSD for the time being )