Today is Friday, so I'll be cautious and most likely head into the weekend trade-free, but the short term trend is up so I will continue to keep an eye open for buying opportunities. As always check the candlestick alerts for intraday trading opps and watch out for news events on the forex calendar.


Trading Idea: Bearish retracements have been few and far between recently, so for the primary trade I'm moving the entry zone up to 1.3015 (from 1.2950 yesterday) with confirmation. Long targets at 1.3040, 1.3070, 1.3100 and 1.3130 for 115 pips profit.

A much more aggressive long would be at 1.3045 with targets at 1.3070, 1.3095 and 1.3120 for 75 pips profit.

Finally if you are hesitant about long positions that is a much riskier short you can take: short on a sustained break below 1.3015 with targets down to 1.2950 for 65 pips profit.

Stay safe, use a stop-loss and never trade with money you can't afford to lose.

Happy pipping and have a great weekend!

P.S. You'll be getting more news this weekend!

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Source: Forex Signals - EUR/USD Bulls Fight Toward 1.32
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