EURUSD Trading Analysis

 

@colibritrader

 

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

 

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.

Did you check out my recent article on Price Action