EURUSD. The daily chart. A pair continues consolidating. You can try to put buy stop order on the 1.4411 level, put stop-loss order just below 1.4304 in this case. You can try to put sell stop order on the 1.4304 level, put stop-loss order above 1.4411 in this case. There are many false alarms possible during consolidation. It makes trading difficult. I recommend to use the tactic of re-entry.


GBPUSD. Trend is downwards on the daily chart. A pair is trading in the downstream channel.
 If the pair coses above resistance 1.6144 upwards pressure will stronger. While pair is under trend line I'm looking to open short. You can try to put sell stop order on the 1.5925 level, put stop-loss order above 1.6000 in this case. If pair close below 1.5925 downwards pressure will stronger than before.



Elena Chernaya, Chief Currency Strategist
ELAN Investment Solutions

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