EURUSD Long Term Forecast

When the ECB adopted negative interest rates in June 2014, the EUR/USD was located at highs of 1.3694 then traded to 1.0346 lows or 3348 pips by June 2017 on a continuation of deeper negative rates. The 1674 mid rate from 3348 then placed EUR/USD at 1.2020 from 1.0346 and EUR/USD accomplished this mission in January 2021 or 4 years later from 2017.

Not only is 1.2020 a vital average in the long term model to forecast a much lower EUR on a break but EUR/USD performed far better on the downside than its current rise since 2017.

The 0.0837 mid rate from 0.1674 places EUR/USD longer term at 1.1541 from 1.2351 and 1.1787 from the 14 year average at 1.2624. The mid rate from 1.2624 to 1.0346 lows still places EUR/USD at 1.1485.

Highlighted and presented by examples in previous articles, all EUR/USD trends reverse to satisfy EUR/USD’s purpose as a neutral currency.

As forecast August 2020 when EUR/USD traded at 1.1800’s, the EUR/USD would complete its target at 1.2351 and EUR/USD traded to highs at 12363 at the same time DXY indicated and achieved 89.22 lows. To respectfully inform readers on a side bar note, many long term targets to 5 , 7 and 1000 pips were forecast and completed publicly over the past many years.

Current EUR/USD trades between 1.2106 and 1.2624 and a mid rate remains now at 1.2365. EUR/USD’s average at 1.2624 is dropping by the week while 1.2106 at the 10 year average and 1.1386 at the 5 year remain stasis. While EUR/USD’s weekly range also drops by the week, EUR will be extremely lucky to complete a 100 pip rise.

As 1.2106 and 1.2020 eventually break lower then 1.2624, 1.2106 and 1.2020 will continue its long term drop simultaneously to a much lower EUR/USD.

EUR/USD Weekly Trade

As posted Sunday for the weekly trade to reiterate, Short 1.2169 and 1.2176 to target 1.2065.

The 18 Weekly trades offered and traded every week for many years, most vital levels are provided to not only follow the trades but to allow traders to take profits anywhere along the price path.

EUR/USD”s weekly levels are displayed as follows: 1.2142, 1.2115, 1.2088 and 1.2075. Most vital from today’s prices is 1.2154 and any price above begins overbought and a short only strategy.

Daily Trades

As EUR/USD is traded twice daily from Sunday to Friday or 10 trades per week, dailies offer the ability to profit from not only extra pips but daily trade forecasts are timed perfectly to weekly entry prices.

EUR/USD’s upside target today is located at 1.2199 on a break of 1.2168. Today’s 1.2168 coincides perfectly to the weekly entry at 1.2169 and 1.2176. The only upside levels from 1.2168 exist at 1.2175, 1.2183 and 1.2191.

EUR/USD’s highs this week achieved 1.2164 or 46 pips from the close at 1.2118. Its a matter of time before EUR embarks on a long term trend lower.

Overall, deeply oversold CAD/ZAR as EUR/USD’s perfect USD opposite currency pair and an early alert forecasts a target of 12.24 on a break of 11.82. CAD/ZAR currently trades at 11.43 and 39 pips from its vital MA.. A break of 11.43 signifies not only a lower EUR but a convincing rise and reversal to USD.

For a look at all of today’s economic events, check out our economic calendar.

S and P day trade Feb 14 2021

For the S&P’s tomorrow, a quick day trade and completed not only in increments but multiple longs and shorts in order to capture all if not most of the traded points. Not many points trade daily so therefore its imperative to maximize the available traded points.

S&P

Long 3915.15 to target 3924.99.

Follow the trade by: 3917.61, 3920.07, 3922.53 and 3924.99

Long above 3934.83 to target 3944.67

Follow the trade by 3937.29, 3939.75, 3942.21, then target at 3944.67

Long above 3944.67 to target 3964.09

Follow the trade by: 3947.13, 3949.59, 3952.05, 3954.51, 3956.97, 3959.43, 3961.89 then target 3965.09

Short 3964.09 to target 3944.67.

Short below 3934.83 to target 3924.99.

For the S&P’s tomorrow, a quick day trade and completed not only in increments but multiple longs and shorts in order to capture all if not most of the traded points. Not many points trade daily so therefore its imperative to maximize the available traded points.

S&P

Long 3915.15 to target 3924.99.

Follow the trade by: 3917.61, 3920.07, 3922.53 and 3924.99

Long above 3934.83 to target 3944.67

Follow the trade by 3937.29, 3939.75, 3942.21, then target at 3944.67

Long above 3944.67 to target 3964.09

Follow the trade by: 3947.13, 3949.59, 3952.05, 3954.51, 3956.97, 3959.43, 3961.89 then target 3965.09

Short 3964.09 to target 3944.67.

Short below 3934.83 to target 3924.99.

 

DXY V S&P Feb 14 2021

To respectfully indulge words from the last post for context:

Overall, EUR/USD was the first currency in August 2020 to break above its 5 year average at 1.1300’s then the 10 year average in December 2020 at 1.2100’s. EUR/USD is categorized in the class of a risk asset and non USD currency.

EUR/USD’s early break to its 5 year average set remainder 27 currencies on a course of deep perspective as non USD currency pairs had to not only match EUR/USD’s break to significant averages but the 1000 pip rise in GBP/USD, 700 for AUD/USD and other non USD currency pairs traded weekly from overbought to overbought and a non normal price circumstance. EUR/USD’s break threw normal price markets deeply off course since August 2020.

Non USD currency pairs such as DXY, USD/CAD, USD/CHF and USD/JPY only option since August 2020 was to concur with EUR/USD and non USD rises by trading deeply oversold week to week and to break 5 and 10 year averages.

EUR/USD and non USD currency pairs as risk assets followed risk asset counterparts in stock markets higher to current richter scale overbought levels. The S&P’s at 3900.00’s trade at extreme overbought levels. The DAX achieved all time highs. Stock market longs are virtually impossible until a significant correction occurs.

DXY

DXY for example just broke above its 10 year monthly average at 89.95 and contains a long way to travel to the 5 year average at 95.00’s. A currency pair to trade at a 10 year monthly average is not only a low, low price but extraordinary and highlights the magnitude to the rises and falls since last August.

Next averages above to break are located at 91.43, 92.78 then 94.39 and 94.16. DXY from monthly averages 1 to 7 years faces stiff resistance from 94.00’s to 95.00’s. A break through this brick wall then DXY will travel easily to 97.00’s and 99.00’s.

DXY below 89.95 targets 86.43, 84.32 and 81.83 at extreme oversold.

Targets for DXY above 89.95 are located at 90.86, above 91.43 then 92.15, 92.47 and 92.66. Above 92.78 targets 92.87 and 92.89.

DXY from current ranges from 89.95 to 92.78 trade at its widest ranges. As DXY travels higher then ranges severely compress. The opposite is true for EUR/USD as the higher it trades then ranges open much wider.

Despite a low price and trade below monthly 5 year averages, DXY is mid range to oversold/ overbought.

S&P’s

DXY viewed from the S&P’s informs trade location miles above the 5 year monthly average at 2722.43 and at overbought to extremes. Overbought S&P’s reveals a healthy correction is on the way, DXY higher and EUR/USD as well as non USD currency pairs to follow much lower.

The S&P’s are held by immediate averages at 3257.68, 3119.54 and 2989.17. A correction targets 3598.53, 3416.84 and 3300.20. A 400 point correction to the S&P’s assumes DXY travels 300 ish pips higher and breaks above 92.78 to trade between 92.78 to 94.39.

S&P averages from 3257.68 travels every 100 points to 2200.00’s at the 10 year monthly average. Current S&P’s ranges are fairly suppressed however as S&P’s drop then ranges expand as the downside gains progresses.

GOLD

Gold trades above its 5 year monthly average at 1461.20 and trades misaligned to the S&P’s. Gold and the DXY are the same assets and should trade below 5 year monthly averages while the S&P’s trade above.

Gold’s drop is held by 1815.65 and below targets 1642.17 and 1543.98. Gold is deeply overbought from a medium and long term perspective. Gold is finished above at 1943.62 and short is the only trade available.

Moving forward, long USD and DXY is the best option while short Gold and the S&P’s although Gold lacks any real range capability. Gold viewed from 150 to 200 points is a viable option as it fails to contain any big price moves.

 

Weekly Round up Feb 14 2021

Overall, EUR/USD was the first currency in August 2020 to break above its 5 year average at 1.1300’s then the 10 year average in December 2020 at 1.2100’s. EUR/USD is categorized in the class of a risk asset and non USD currency.

EUR/USD’s early break to its 5 year average set remainder 27 currencies on a course of deep perspective as non USD currency pairs had to not only match EUR/USD’s break to significant averages but the 1000 pip rise in GBP/USD, 700 for AUD/USD and other non USD currency pairs traded weekly from overbought to overbought and a non normal price circumstance. EUR/USD’s break threw normal price markets deeply off course since August 2020.

Non USD currency pairs such as DXY, USD/CAD, USD/CHF and USD/JPY only option since August 2020 was to concur with EUR/USD and non USD rises by trading deeply oversold week to week and to break 5 and 10 year averages.

DXY for example just broke above its 10 year average at 89.95 and contains a long way to travel to the 5 year average at 95.00’s.

Today, markets are ready to slowly embark on a deep 3 and 500 pip correction as currency prices traded to lowest and highest depths of oversold and overbought. This will take time as highlighted in the January 3rd post to long term forecasts because currency prices remain in 3 and 400 pip trading ranges and contained within vital breaks to 5 and 10 year averages. No better time than the present to position for the impending correction.

A correction means a break of 5 and 10 year averages to only trade in new 3 and 400 pip trade ranges as markets and all financial instruments range far more than trend. Consider EUR/USD’s 1000 pip rise from 1.1300 to 1.2300 by 166 pips per month for 6 months. The same similarities exist among all currency prices.

The Month highlighted by significant breaks and 5 and 10 year Averages

AUDUSD January 8 to February 14

January 3 – 8: AUD/USD: 5 year average 0.7306 Vs 0.7498 Vs 0.7821 or 323 pips

January 8: 0.7306 Vs 0.7530 Vs 0.7821 or 291 pips and a 32 pip compression to overall ranges.

January 14: 0.7306 Vs 0.7535 Vs 0.7821 or 286 pips and a 5 pip compression from last week and 37 pips overall in 3 weeks.

January 21 to 28: 0.7306 Vs 0.7535 and 0.7821 or no change.

January 28 to Feb 5: 0.7306, 0.7535 and 0.7821 and no change.

Feb 5 to 14: 0.7306, 0.7531 and 0.7821 or no change.

Feb 14 to 19: 0.7306, 0.7565 and 0.7821 or 256 pips and overall compression of 67 pips from January 3 to 8.

Between 0.7565 to 0.7821 are minor trade levels.

Close Prices

January 9th, AUD/USD opened the week at 0.7765 then opened January 16th at 0.7700 or a 65 pip week.

January 16 to 23, AUD/USD opened at 0.7700 to close at 0.7710 for a 10 pip difference.

January 23rd to January 30 AUD opened at 0.7710 Vs close 0.7637 or 73 pips.

January 30 to Feb 5 Aud opened at 0.7637 and closed 0.7675 or 38 pips.

Feb 5 to 14: 0.7675 to current 0.7759 or 84 pips.

EUR/USD Ranges

EUR/USD January 14 Significant MA’s as follows: 1.2119, 1.2020, 1.2038 Vs 1.2630.

From 1.2119 to 1.2630 = 511 pips.

January 8 to 14 : 1.2116, 1.2020, 1.2030 vs 1.2628. From 1.2116 to 1.2628 = 512 pips.

EUR/USD moved 1 pip in 8 trade days.

January 14 to 21 : 1.2113, 1.2020, 1.2034 Vs 1.2627 = 514 pips

EUR/USD gained 3 pips to its overall range in 3 weeks.

Feb 5 to 14 : 1.2020, 1.2016, 1.2110, 1.2626 or 610 pips and a range expansion of 96 pips.

Feb 14 to 19: 5 year average 1.1386, 1.2020, 1.2107 and 1.2624 or 517 pips, 87 pips from 1.2107 to 1.2020 and 634 pips from 1.2020 to 1.1386, mid point at 1.1703.

EUR/USD Weekly Closes

Weekly January 9 to 16, EUR/USD opened at 1.2216 and closed 1.2074 or 142 pips.

January 16 to 23rd: 1.2074 to 1.2169 or 95 pips

January 23 to 30th: 1.2169 to 1.2132 or 37 pips.

January30 to Feb 5: 1.2132 to 1.2048 or 84 pips.

Feb 5 to 14: 1.2048 to 1.2118 or 70 pips.

USD/CAD

USD/CAD January 14 Significant MA’s as follows: 1.2586 Vs 1.2924 and 1.2976. From 1.2586 to 1.2976 = 390 Pips.

January 14 to 23rd: 1.2586, 1.2886 and 1.2976 or 390 pips and no change over 8 trade days.

January 23 to 30 : 1.2586, 1.2886 and 1.2976 or 390 pips and no change.

January 30 to Feb 5: 1.2586, 1.2889 and 1.2976 or 390 pips and no change for January.

Feb 5 to 14: 1.2586, 1.2858 and 1.2976 or 272 pips and 118 pips.

USD/CAD Closes

January 9 to 16: 1.2684 to 1.2736 or 52 pips.

January 16 to 23rd: 1.2736 to 1.2729 or 6 pips.

January 23rd to 30th: 1.2729 to 1.2773 or 44 pips.

January 30 to Feb 5: 1.2773 to 1.2756 or 17 pips.

Feb 5 to 14: 1.2756 to 1.2688 or 68 pips.

GBP/USD Ranges

GBP/USD January 14 Significant MA’s as follows: 1.3351 and 1.3360 Vs 1.3832 or 481 pips from 1.3832 to 1.3551.

January 8 to 16: 1.3408 and 1.3360 to 1.3832. From 1.3832 to 1.3408 = 424 pips and a compression of 57 pips to overall ranges.

January 23 to 31: This week: 1.3448, 1.3360 Vs 1.3832 or 384 pips, a compression of 40 pips from last week and 97 pip in 3 weeks from 481.

January 31 to Feb 5: 1.3360, 1.3477, 1.3832 or 355 pips and a 126 pip range compression.

Feb 5 to 14: 1.3061, 1.3360, 1.3536, 1.3832 and 1.4300. Ranges factor 468 pips, 296, 176 and 299 pips.

GBP/USD Closes

January 9 to 16th: 1.3554 to 1.3575 or 21 pips

January 16 to 23rd: 1.3575 to 1.3671 or 96 pips.

January 23rd to 30th: 1.3671 to 1.3688 or 17 pips.

January 30 to Feb 5: 1.3688 to 1.3727 or 39 pips.

Feb 5 to 14: 1.3727 to 1.3844 or 117 pips.

GBP/JPY

GBP/JPY. January 14 Significant MA’s as follows: 139.25 Vs 144.31 and 146.14 or 689 pips from 146.14 to 139.25.

January 23 to 30: 139.76, Vs 144.31 and 146.14 or 689 pips from 139.15 to 146.14 or 638 pips from 146.14 to 139.76.

Bottom average rose by 51 pips to compress ranges by exactly 51 pips.

January 30 to Feb 5: 140.25, 142.66, 144.31 Vs 146.14 or 589 pips and an overall range compression of 100 pips.

Feb 5 to 14: 141.00, 142.54 and 148.25 or 571 pips vs 154 pips from 142.54 to 141.00.

Feb 14: 141.75, 142.46 Vs 148.27 and 150.53

GBP/JPY Closes

anuary 9 to 16: 140.92 to 141.03 or 11 pips.

January 16 to 23rd: 141.03 to 141.95 or 92 pips.

January 23 to 30th: 141.95 to 143.39 or 144 pips.

January 30 to Feb 5: 143.39 to 144.63 or 124 pips.

Feb 5 to 14: 144.63 to 145.34 or 71 pips.

The Week Ahead

Week 3 to JPY cross pairs trading at significant overbought levels however all trade near vital breaks higher. EUR/JPY’s 14 year average is located at 128.24, AUD/JPY 79.70, NZD/JPY 75.44 and CAD/JPY at 81.45.

The impending break for AUD/JPY at 79.70 and NZD/JPY 75.44 will assist to a deeper correction to AUD/USD and NZD/USD. Watch USD/JPY at 104.72 and trades above while EUR/USD also trades above 1.2030 in a misaligned situation.

GBP/USD and all GBP pairs remain deeply overbought. Problem pairs GBP/CHF and GBP/CAD are slowly expanding ranges over the past 2 weeks and will assist in a lower GBP across the range of GBP pairs.

EUR/GBP sits on its 5 year average at 0.8726 and is deeply oversold. Higher EUR/GBP also confirms a lower GBP.

Watch GBP/NZD this week as it trades above 1.9136 while oversold EUR/NZD trades below 1.7011. GBP/NZD is forecast this week as active moves and ranges comply.

Oversold USD/CAD 1.2858 should break in days ahead. The 5 year average is located 1.3141.

EUR/USD Weekly Trade offered as multiple longs and shorts plus trade levels to watch the trade unfold.

Short 1.2169 and 1.2176 to target 1.2065. Must cross 1.2142, 1.2115, 1.2088 and 1.2075.

Short below 1.2030 to target 1.1947.

Long 1.1947 to target 1.2002.

Cautious long 1.2065 to target 1.2114.

EUR/USD Vs USD/JPY, Close Prices and Next Week

EUR/USD most significant high/ low point is located at 1.2026. A break however at 1.2020 represent a wholesale trend change for a lower EUR/USD. Current EUR/USD trades above 1.2026.

USD/JPY on the other side trades above its significant high/ low point at 104.72. Both EUR/USD and USD/JPY are mis aligned. Either USD/JPY remains above 104.72 and trades higher or EUR/USD must break below 1.2026 and 1.2020 to trade much lower to 1.1700’s. In the interim, both pairs are in a standoff.

Noted from USD/JPY constituents, USD/CAD trades below its high / low point at 1.2867 and USD/CHF below 0.8980. USD/JPY remains the outlier USD pair for the past two weeks.

From the January 3rd long term forecasts, the next major USD/JPY inflection point is located at 106.00 exactly and USD/JPY traded to 105.75 then dropped. While 106.00 above represents the next break, below is located the 10 year average at 103.33 and a 267 pip range.

EUR/USD however must break below its 10 year average at 1.2107 to target the vital breaks at 1.2026 and 1.2020. Above is located the 14 year average at 1.2625. As EUR/USD trades above 1.2107 then the wide range becomes 1.2625 to 1.2107 and a 518 pip range. EUR/USD overall hasn’t changed its 518 pip range since January 8 as important MA’s are dropping simultaneously.

Most important point at 1.2625 however is dropping ever so slowly week to week as is 1.2107. A much lower EUR/USD is ahead in weeks to come.

Between 1.2107 and 1.2624 exists minor daily and weekly trade points.

USD/JPY however above 106.00 exists a vital average every 100 pips until the 5 year average at 109.09. USD/JPY’s counterpart due to the exact same pair is CHF/JPY and it trades above 116.20.

For USD/JPY today, best shorts are located at 105.37 and 105.30 to target 104.90. Longs are located at 104.31 and 104.37 to target 104.64. The break at 104.72 however represents a lower USD/JPY next week.

EUR/USD close price today is forecast at 1.2109 and below 1.2137. This places EUR/USD next week between 1.2082 to 1.2137 for next week.

USD/JPY above 104.72 represents a problem for AUD/JPY as it trades above its 5 year average at 79.70 and NZD/JPY trades above its 10 year average at 75.42. Both are mandatory breaks for AUD/USD to trade lower and break its vital MA at its rising line at 0.7557 and NZD/USD 0.7070.

Any price today for AUD/JPY ar 81.57 is a good short to target 81.17 and today’s close price is forecast at 80.96.

Not only are all JPY cross pairs richter scale overbought but most trade near vital inflection points. EUR/JPY 128.24 is next above Vs below at 125.93 or a 231 pip range. Close price forecast today for EUR/JPY at 126.83 places EUR/JPY at perfect neutral to begin next week.

GBP/JPY trades deeply overbought between vital 5 and 10 year averages at 142.47 and 148.27. Good short today is found at 145.26 to target the close price forecast at 144.08. Quite a distance for a Friday. Above 144.08 then GBP/JPY remains deeply overbought heading into next week.

Overbought GBP/USD forecast close price is located at 1.3741. Shorts today are located at 1,.3866 and 1.3857 to target 1.3772 then 1.3741.

For oversold EUR/CAD, next week 1.5471 high/ low point we’re watching closely.

For high flyer and wide ranger GBP/AUD net week 1.7900 represents the big break. 1.7900 broke this week and traded to 1.7785. EUR/AUD and GBP/AUD’s counterpart must break 1.5923 to trade higher. GBP/AUD break at 1.7900 represents an alignment to EUR/AUD as both now trade below respective MA’s.

For oversold USD/CAD, close price today is forecast 1.2753. Shorts today are located at 1.2787 and 1.2773 to target 1.2731 then 1.2696.

Oversold EUR/GBP trades just above its 5 year average at 0.8725.

S&P bottom and long entry is located at 3896.71 and just ahead of 3861.36. Long target is located at 3906.58 for a quick 10 point trade today.

DAX today must trade back to at least 13970.70. Note most vital today at 13926.28 then 14029.00, 14084.78 then 14156.47. Above 13970.70 targets 14029.00.

 

Nikkei 225 Trade Feb 10 to 11 2021

Consistent to trade and achieve targets for stock indices, the DAX and S&P’s over two and three days completed targets and today is offered the Nikkei 225 from its close at 29562.93.

The Nikkei 225 is the big mover in relation to the DAX an at average of 70 and 140 point moves, the S&P’s at 30 point ranges, Canada’s TSX Composite at 91 points per day, Australia’s ASX 200 at 34 points per day, Nasdaq at 68 points per day, Euro Stoxx 50 at 18 points per day and FTSE 100 at 40 points per day.

Responsible for the Nikkei to move in wide ranges is the factor of Japanese Interest rates to begin with Call Rates, Yen Tibor for onshore and yields. Yen Tibor is the rate to factor Japanese financial instruments in Japan and Euroyen is employed to factor EUR/JPY and financial instruments outside Japan such as Libor.

The bottom at 29415.11 factors as bottoms for Japanese and USD rates however its imperative to trade the Nikkei 225 by Japanese interest rates only as USD rates fails to account correctly for day and 24 hour trades to levels, targets and support and resistance points.

Ranges over last 5 trade days: 219, 228, 581, 224 and 278. A fairly average daily move for the Nikkei is 147 points beginning at 73 points.

Most significant: 29397.23, 29581.40, 29729.55

Bottom. 29415.11. Up target 29733.52

Long 29415.11 to target 29489.02.

Follow by: 29424.34, 29433.58, 29452.06, 29470.53 and 29489.02

Short 29733.52 to target 29648.23

Follow by: 29724.29, 29715.05, 29696.58, 29687.35, 29678.12, 29668.89, 29659.67 and 29650.43.

For a look at all of today’s economic events, check out our economic calendar.

CPI and EUR/USD

The big US release today is CPI and forecast at 1.2%. To accurately trade CPI, 1.2% must transform from a percent to a decimal to align market price decimals to economic release decimals. From 1.2% factors to its decimal at 0.015 or a value of 150 points for stock indicies and 150 pips for currencies.

Given the radical transformation to interest rates in 2016 by the ECB then all central compliance, no longer are 150 point and pip movements seen to any economic release. Consider the S&P’s daily range barely trades 32 points per day, DXY 50 points, EUR/USD barely 60 pips. GBP/USD last week upon the BOE announcement traded hardly 70 pips. Interest rate transformation severely limited daily ranges.

The 150 pips and points must then reflect to the specific ranges of the respective financial instrument. The breakdown from 150 factors to 37 and 18 or more specifically as 18.5 and 37.5 and 0.5 as a terrible number actually means 18 or 19 and 37 calculates to 37 or 38.

The next small polemic is the announcement at 8:30 am when day trades new time based on the ECB transformation runs from 1:30 am EST o 9:00 am then comes the ECB fix. Most significant prices already traded and not much remains for CPI.

Soon the new trade times will run from 2:30 am EST to 10:00 am then the ECB Fix. The ECB eliminated the 8:30 am EST fix to allow a 7 1/2 hour day trade time to ensure ranges would automatically flatten to day trade interest rates. If a point or pip moves in the market then its attribution is due to an interest rate move.

To factor the EUR/USD today for CPI then most vital points from 18 and 37 is located above at 1.2141 and 1.2160 and both points are mid range to the overall day trade. Below points are located at 1.2105 and 1.2086.

Compared to the overall day trade most vital support and resistance points, EUR/USD aligns as 1.2062 bottom then 1.2074, 1.2086 CPI and 1.2090.

Above is located as 1.2141, 1.2153, 1.2160 and 1.2184.

Subtract the CIP points then most vital points today are located at 1.2062, 12074, 1.2090 Vs 1.2153 and 1.2184.

EUR/USD traded highs today at 1.2143 and 1.2113 lows for a 30 pip range. Today’s EUR range failed to dent its overall trade movement ability therefore a day trade remains.

Most perfect trade is located at short 1.2184 to target 1.2153 for 31 pips then long 1.2062 to target 1.2074 then 1.2090 for 28 pips. Overall 31 and 28 pips for a 49 pip trade day.

For a look at all of today’s economic events, check out our economic calendar.