EURUSD: At the Top of the 2 Year Channel

EURUSD: Has surge its way back to the top of the 2 year channel thanks to poor US economic data and uncertainty surrounding US politics, Trump’s ability to deliver economic reform (Tax cut, infrastructure plan, etc).

Plan & Profits: I would place my bet on EURUSD to break the channel to the upside in the long term. In the meantime a short term short position seems logical as this is a key resistance which will most likely be tested in the weeks to come. In addition, there will be economic data and political news which which could create high volatility in this pair.

Short Position:

Price:1.144 -1.146, TP: 1.130-1.13, SL: 1.5

Long Position: 

Price must be above 1.5, TP: Long term, SL: 1.4

Risk Disclaimer: Trading forex carries risk and is not suitable for everyone. Due to the naturally leveraged natural of trading, leverage can work can significantly increase your profits and your losses.

 

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