week beginning Monday 18th December trading plan for the week, remember this is just a guide for me and things for me to remember.
Eur/usd support and resistance levels for monday, tuesday, wednesday, thursday
r3 1.3268 r2 1.3224 r1 1.3153
s3 1.2923 s2 1.2994 s1 1.3038
Sunday/Mondays trades Times as always are in GMT
Mondays data releases are dollar negative, but for this week i need to keep a very close eye on volumes, i expect these
to tail off towards the end of the week, and downward revisions to to ppi figures, making the initial release spike
the market long again, but will take a close look at that in a moment. I dont like going against the trend but my first trade is going to be a very speculative trade.
Eur/usd buy @ 1.3050 36 pip stop loss, limit 1.3150 trigger time around 8.00 a.m. gmt monday
The reason for this trade is that most of the time the markets open and go up 25 pips, the down 25 pips before heading
on the direction for the day, also the asian markets normally move the markets down about 20 pips, and 1.3040 holds strong
support.
Tuesday
could be a very hectic day, with the downwards revisions of last months cpi figures, could the ppi figures follow suit
eur/usd sell @ 1.3150-1.3170 40 pip sl limit 1.3040
shoul have made around 140 pips profit. If we get the revisions and the figure comes out at 0.2% a dollar negative reaction
is unlikely because its still a rise, which is dollar positive, along with positive housing starts and building permits
not being to bad, should be a good days trading
wednesday
fairly quiet data/news releases with the gbp dominating the day with the bank of england minutes, and public sector
borrowing positive for the gbp i will place another buy with all other data releases being positive for each currency
my trade will be as follows
eur/usd buy @ 1.3040-50 only looking to make 20pip so i shall use a 25 pip trailing stop, my limit target being 1.3120
thursday
nothing spetacular being announced so technical trading should continue without much hinderence, with the trading day
begiining at the top of the downwards channel, i will place a sell in the morning
eur/usd sell 1.3110-20 limit 1.3050
Friday
with volumes at a low, the eur/usd at a low and the only other support being 1.2980 and the data being dollar positive i
have my final trade for the week.
eur/usd sell 1.3080 limit 1.2980
I think this could also be the end of the correction, as we head towards year end, will be looking at a change
in interest rate differentials between uk/us/eur
good luck all!my
Eur/usd support and resistance levels for monday, tuesday, wednesday, thursday
r3 1.3268 r2 1.3224 r1 1.3153
s3 1.2923 s2 1.2994 s1 1.3038
Sunday/Mondays trades Times as always are in GMT
Mondays data releases are dollar negative, but for this week i need to keep a very close eye on volumes, i expect these
to tail off towards the end of the week, and downward revisions to to ppi figures, making the initial release spike
the market long again, but will take a close look at that in a moment. I dont like going against the trend but my first trade is going to be a very speculative trade.
Eur/usd buy @ 1.3050 36 pip stop loss, limit 1.3150 trigger time around 8.00 a.m. gmt monday
The reason for this trade is that most of the time the markets open and go up 25 pips, the down 25 pips before heading
on the direction for the day, also the asian markets normally move the markets down about 20 pips, and 1.3040 holds strong
support.
Tuesday
could be a very hectic day, with the downwards revisions of last months cpi figures, could the ppi figures follow suit
eur/usd sell @ 1.3150-1.3170 40 pip sl limit 1.3040
shoul have made around 140 pips profit. If we get the revisions and the figure comes out at 0.2% a dollar negative reaction
is unlikely because its still a rise, which is dollar positive, along with positive housing starts and building permits
not being to bad, should be a good days trading
wednesday
fairly quiet data/news releases with the gbp dominating the day with the bank of england minutes, and public sector
borrowing positive for the gbp i will place another buy with all other data releases being positive for each currency
my trade will be as follows
eur/usd buy @ 1.3040-50 only looking to make 20pip so i shall use a 25 pip trailing stop, my limit target being 1.3120
thursday
nothing spetacular being announced so technical trading should continue without much hinderence, with the trading day
begiining at the top of the downwards channel, i will place a sell in the morning
eur/usd sell 1.3110-20 limit 1.3050
Friday
with volumes at a low, the eur/usd at a low and the only other support being 1.2980 and the data being dollar positive i
have my final trade for the week.
eur/usd sell 1.3080 limit 1.2980
I think this could also be the end of the correction, as we head towards year end, will be looking at a change
in interest rate differentials between uk/us/eur
good luck all!my