Brad Gilbert

CEO & Founder of Traders4Traders – Brad has been trading for 28 years and was a former Chief FX Trader for Citibank. Brad trades mostly the Asian Market.

Trades: EUR, GBP, AUD, NZD, CAD, JPY, CHF, DOW, SP500, OIL, GOLD

 

Overview

The EURUSD has been feeling soft the past month after the last ECB meeting where ECB President Draghi highlighted the drop in growth across the Eurozone. The mixed USD sentiment has stalled the downside move but this week’s upcoming European Parliamentary Elections may create a lot more negative sentiment and momentum. I’m keen to cash in on a move down through 1.1100.

Current Technicals: Down

Hourly Resistance: 1.1200

EURUSD HOURLY CHART – Current Price 1.1163

Current Fundamentals: Down

Central Bank Sentiment: Down

Geopolitical Impact: Neutral

Upcoming Potential Fundamental Drivers

Trade Execution

Our Preference

Short positions below 1.1200 with an initial target of 1.1050.

Alternative Scenario

Above 1.1200 we should see a quick stop loss run towards 1.1240 but that next upside resistance level should cap any upmove.

Execution Software

If trading the technical levels: Trendline Trader.

If trading live: T-Rex Live Trader or Guerrilla Trader

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