EUR/USD and USD/CAD weekly trades and next week trade scenarios
|As written Sunday and reiterated today, EUR/USD short 1.2214 and 1.2224 to target 1.2134. EUR/USD achieved 1.2217. Short 1.2214 and 1.2224 achieved 1.2142 lows.
Weekly trade options were long anywhere Monday, Tuesday, or Wednesday. Once targets are established, entry becomes secondary. From EUR/USD lows Monday at 1.2144 to 1.2117 factors + 73 pips. Then short 1.2217 to 1.2134 dead stopped at 1.2142 +75 Pips.
Total 2 trades +148 pips for only 1 currency pair against 18 currencies traded every week for many years.
Next weekly trade option. Short 1.2214 and 1.2224 to target 1.2134. Dead stopped 1.2142. One trade +75 pips.
Day traders added to weekly trades from either 148 or 75 pips by profit from day trades as extra added pips while waiting for weekly targets. Traders not interested in day trades set entries and targets and lived a comfortable life outside of markets as none were subjected to long winded articles or loser trades that said nothing nor earned 1 pip after completion.
The target at 1.2134 holds into this trade day however as Friday is here and new trades are sent Saturday, traders will exit for profit for all shorts.
Today's most vital 5 numbers for EUR/USD: 1.2127, 1.2136, 1.2150, 1.2220, and 1.2251.
Today's close is expected at 1.2152.
For next week, same strategy as either long to target then short or short at target to the next target. Weekly trades run target to target in order to trade and profit continuously all week.
Vital levels next week are 1.2188 and 1.2224. On a close at 1.,2152 then vital levels become 1.2183 and 1.2218. On a close at 1.2134 then vital levels become 1.2180 and 1.2215.
EUR/USD averages are moving against longs and dropping so then overall strategy is short.
USD/CAD
Target at 1.2201 achieved highs at 1.2124 from 1.2056 weekly lows. Entry anywhere Monday, Tuesday or Wednesday profited. The close is expected at 1.2049 and a 100 pip spread from EUR/USD's close. Longs next week will run under 1.2145 and target around 1.2196 to 1.2211.
From low to high priced currencies: NZD/USD ranged 76 pips from 0.7240 to 0.7176 while EUR/USD traveled 73 pips from 1.2144 to 1.2117.
EUR/USD and NZD/USD correlations run +86% and not terrible.
DXY remains dead and oversold at 90.00's yet 500 upside pips to vital brick wall at 95.00's exists. See USD/CAD as long only strategy.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.