danarm
Experienced member
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Good morning all,
I hope you all have had a great weekend.
Non Farm Payroll came out a lot better than expected on Friday causing some fantastic moves on Friday afternoon EUR and Cable both pushed to new session lows. I was expecting to see clear retracements in both through the Asian session this morning but we have seen GBP continue to struggle with the ongoing political problems causing traders to be cautious.
GBPUSD
• We have our Daily 20 MA 80 points below us at 1.5840 so still room to the south.
• 15 minute averages are all in the correct order but entries will be difficult without significant pullbacks to the 60 minute 20 ma. Other wise our stop loss will have to be too great for the potential reward.
EURUSD
• EUR has pulled back nicely over night in towards our 60 minute 20 and looks to be stronger than GBP
• A small 15 minute channel has formed and a break of this would signal an entry for us.
• To the upside a break of 1.4000 and to the downside a break of 1.3970
• If the trade is against the trend remember to be playing at half stakes.
USDCHF
• Has retraced off its Daily 20 ma but still has further room to the downside towards the hourly 20 ma
• From around this level I will be looking for a long position.
The Monkey
I hope you all have had a great weekend.
Non Farm Payroll came out a lot better than expected on Friday causing some fantastic moves on Friday afternoon EUR and Cable both pushed to new session lows. I was expecting to see clear retracements in both through the Asian session this morning but we have seen GBP continue to struggle with the ongoing political problems causing traders to be cautious.
GBPUSD
• We have our Daily 20 MA 80 points below us at 1.5840 so still room to the south.
• 15 minute averages are all in the correct order but entries will be difficult without significant pullbacks to the 60 minute 20 ma. Other wise our stop loss will have to be too great for the potential reward.
EURUSD
• EUR has pulled back nicely over night in towards our 60 minute 20 and looks to be stronger than GBP
• A small 15 minute channel has formed and a break of this would signal an entry for us.
• To the upside a break of 1.4000 and to the downside a break of 1.3970
• If the trade is against the trend remember to be playing at half stakes.
USDCHF
• Has retraced off its Daily 20 ma but still has further room to the downside towards the hourly 20 ma
• From around this level I will be looking for a long position.
The Monkey