Hello traders this is a look at the EURUSD for this Monday February 20th, 2017. Traders I do not recommend any live trades today as it is a Holiday in the US and Canada. This trade plan was done in Asia today and as we expected the volume is way down and not much moving as I say that we can see we are working our way to our entry point. OK let us look at this trade plan for today we are looking a a pair that is bias bearish for a very long time and I continue to just look for sell trades. We had a nice sell off on Friday and we just looking for a pull back to the 38.2 Fibonacci level at the price of 1.0640. I would look for a bearish candlestick formation and conformation and enter the sell trade. I am looking to take profit at the support level of 1.0590. We need to be alert to the price level of 1.0610 as I expect a bounce before we continue to our full take profit.
Thank you traders and we will talk soon…….William