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EUR/USD Trading Idea

Posted on Jun 7th, 2016

by colibritrader

The trading week has already started. The trading article I have written on Sunday was regarding 4 different trading ideas. Today I am going to cover in more depth one of them- EUR/USD.

I was expecting to see more buyers pushing the pair higher. As you have seen, the Friday candle is a monstrous one! The NFP figure was more than disappointing and that led to massive losses for the USD. Today, I am looking to add more to the this long trade.

Have a look at the chart below:

This is the candlestick formation from today and it is a typical inside bar. This trading setup means more buyers and more attention to this pair. That is why, I will be looking to enter in a long trade here.

My entry would be the level of 1.1358. My stop-loss would be the level of 1.1295. My first target is the level of 1.1440. Then, depending on price action, I Will be looking for 1.1500 and 1.1600.

Happy Trading,

Colibri Trader

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