Petr Suchanek
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Petr Suchanek in Petr Suchanek - SMB Capital,

EUR/USD LONG AND SHORT TRADE OPPORTUNITIES

First I want to highlight that you can watch my analyses and trade ideas also on TWITTER (@FlexibleTrader) and you can also watch my LIVE TRADES on YouTube (here). So be sure to check out MY TRADING STYLE in more details!

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The EUR/USD Currency Pair

seems to be stuck in a range-bound market condition and does not show any sign of directional inclination. Still it may change soon, because of some news realease today (e.g. Draghi speaks …). In todays blog post I would like to outline the most importnat intraday levels, where traders will make their decisions and hence some high-probability trade setups may occur. So here are a couple of long and short scenarios…

Let us focus on SHORT SCENARIOS first:

SCENARIO #1:

The price has nicely reacted to 1.3851-1.3864 zone, which is just around the 61.8 Fibonacci level of the previous downswing. These two levels define a zone for shorts, so look for any kind of weakness there to enter short.

SCENARIO #2:

If the current lower range boundary is breached and the price closes strongly below 1.3789, it would be time for further decline and shorts off that level are high potential opportunities.


Let us turn to LONG SCENARIOS:

SCENARIO #3:

A strong bounce off of 1.3789 might be a sign that the range-bound market continues, so intraday long trade setup around 1.3789 is likely.

SCENARIO #4:

A strong close above 1.3864 migh indicate that eur is about to go higher, so look for any pullback showing some weakness of bears to join the bulls there. Target for longs is at 1.3900.

What are your favourites? I am looking for your feedback. 

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As usual, my trading idea is based on an uncoventional trading methodology used in our SMB Capital Forex and Futures Training Program.

For a deeper understanding you can join us on http://www.smbtraining.com/overview/forex-training

or you can watch my LIVE TRADING VIDEOS ON YOUTUBE.

In case of any questions or comments, be sure to send me an email or contact me via other social media as stated below.

Petr Suchanek

Forex, Futures & Options Trader

Email: psuchanek@smbcap.com

Twitter: @FlexibleTrader

StockTwits: http://stocktwits.com/FlexibleTrader

YouTube Channel: http://bit.ly/17jWiog

Training program: http://smbu.us/smbwh