The EUR/USD is trading in a tight "L" pattern on the daily timeframe. The "L" consists of last Thursday's directional move and subsequent three sideways sessions. This is unlikely to change today unless there is a surprise out of the ECB meeting.
Here is the plan:
Short Trade
1)Entry: 1.1649
2)Stop: 1.1676
3)Profit Target: 1.1622
Long Trade:
1) Entry: 1.1516
2) Stop: 1.1498
3) Profit Target: 1.1534
Each of these trades is executed on a 1:1 risk vs reward scale. They will remain live until one is executed or fundamentals dictate the trade is pulled. If this is the case, an update will be issued.
Here is the plan:
Short Trade
1)Entry: 1.1649
2)Stop: 1.1676
3)Profit Target: 1.1622
Long Trade:
1) Entry: 1.1516
2) Stop: 1.1498
3) Profit Target: 1.1534
Each of these trades is executed on a 1:1 risk vs reward scale. They will remain live until one is executed or fundamentals dictate the trade is pulled. If this is the case, an update will be issued.