IgalSignalTrader
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Technical Overview:
The week started with a nice gap up. We believe that the market will close this gap and we see this gap as an opportunity for SHORT positions. As you can see on the daily chart, the pair is moving within the channel and we believe it will go down toward the lower band.
Therefore, our short term target is at 1.386
Trading Idea:
Best levels to enter SHORT positions are anywhere between 1.395 and 1.397.
First target is closing the gap at 1.39 and second target is the lower band of the channel at 1.386.
A break above 1.401 will be a signal to exit short positions. Only a break above 1.4035 will be a long signal.
Analysis by Signal Trader – the leading solution for Automated Trading. Autotrade on Forex, Indices and Commodities.
RISK WARNING: Trading foreign exchange (“Forex”), Commodity futures, options, CFDs and SpreadBetting on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial adviser if you have any doubts.
The week started with a nice gap up. We believe that the market will close this gap and we see this gap as an opportunity for SHORT positions. As you can see on the daily chart, the pair is moving within the channel and we believe it will go down toward the lower band.
Therefore, our short term target is at 1.386
Trading Idea:
Best levels to enter SHORT positions are anywhere between 1.395 and 1.397.
First target is closing the gap at 1.39 and second target is the lower band of the channel at 1.386.
A break above 1.401 will be a signal to exit short positions. Only a break above 1.4035 will be a long signal.
Analysis by Signal Trader – the leading solution for Automated Trading. Autotrade on Forex, Indices and Commodities.
RISK WARNING: Trading foreign exchange (“Forex”), Commodity futures, options, CFDs and SpreadBetting on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial adviser if you have any doubts.