EURUSD. Pair is consolidating in the range (1.4304-1.4513) on the daily chart. You can try to put buy stop order on the 1.4513 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 1.4513 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. A daily chart. Earlier, the closure violated the downward price trend line, and the growth rate continued. Fibonacci extension 1.6300 has been reached. The next is 1.6550. The aggressive look to get long from the support, tentatively 1.6144, put stop-loss order below 1.6100.  You can try to put buy stop order on the 1.6336 level, put stop-loss order just below 1.6100 in this case.
 

Elena Chernaya, Chief Currency Strategist
ELAN Investment Solutions

back to the articles list