Hello traders good to be back with you on a Monday and an exciting week ahead. As we try to do every Monday we start with the EURUSD 60 minute chart. Traders not much data in London session however we have some nice data in the US session today. OK let us take a look at the chart and you can see we remain bias bearish. I am looking for price to pull back to the trend line I have placed on the chart at the price of 1.0593. At this point I am looking for a bearish candle formation and enter the sell trade. I am placing my stop at the price of 1.0620 for a 27 pip draw down on this trade not giving much today as price action is very slow. I would like to take profit at the support level at 1.0550 as marked on the chart.
Thank you traders and we will talk soon……William