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StopHunter
2022-08-05
$Euro FX - main 2203(EURmain)$ FX Heads Up!! For all you Forex traders out there - dont forget to watch out for US Non-Farms data release at 13:30 GMT - could be a lively one after this weeks interest rate rises / inflation noise / and global economic concerns.

The numbers: Previous 372k, Forecast 250k

My favourite currency pair to trade over non-farms $Euro FX - main 2203(EURmain)$- good volatility and movement - currently in the longer term currency strength charts EUR is weak and USD stronger (see attached chart) and what about the currency pair? If you're thinking longer term then selling EURUSD might be an option? (see charts)

Today around non-farms, especially if the numbers dont match forecast then I think you'll see some fast multi-directional action. You will have to be very quick with the buy and sell buttons!! Sometimes the best trade is to watch the action around 1:30 play out and wait for the obvious trend direction to show out and then follow that.

Currently Bearish Longer Term. (See attached charts)

Targets & Risk Management....

Bullish upsides: T1: 1.03, T2: 1.048, T3: 1.078
Bearish Downsides: T1 0.999 T2 0.977 T3: 0.967
Stops: Bullish 1.0163, Bearish 1.0281

Visit my YouTube channel for loads of free educational content / courses / tips / analysis /ideas via: Intro Post & Links THE STOP HUNTER (Links at bottom of post)
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Comments

  • WebbBart
    2022-08-05
    WebbBart
    It's such a hard year for Europe. I hope the euro can rise otherwise it will be an even harder winter...
    • StopHunter: 
      Hi WebbBart - totally agree. Looking bad!
  • WendyDelia
    2022-08-05
    WendyDelia
    Dropping the usd index would be great for the world
  • EvanHolt
    2022-08-07
    EvanHolt
    You're right. Risk management is the most important thing.
    • StopHunter: 
      Hi EvanHolt - agreed - an immensley overlooked topic and one that can make or break you as a trader!
  • ElvisMarner
    2022-08-07
    ElvisMarner
    Not many investors pay attention to the currency market.
    • StopHunter: 
      Hi ElvisMarner. You are right - it should not be ignored - either for clues as to where other markets are moving or simply to trade and make money from!
  • DonnaMay
    2022-08-07
    DonnaMay
    The impact of higher interest rates on foreign exchange markets is diminishing.
    • StopHunter: 
      I hope so but there is something in the back of my mind telling me we are not out of the woods just yet!
  • lyKeoh
    2022-08-07
    lyKeoh
    good article to read
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