EURUSD. Euro is consolidating in the range (1.3596- 1.3793) on the daily chart . You can try to put buy stop order on the 1.3793 level, put stop-loss order just below  1.3596 in this case. You can try to put sell stop order on the 1.3596 level, put stop-loss order above 1.3793 in this case. There are many false alarms possible during consolidation. It makes trading difficult.

 
GBPUSD. Pound has reached  lower border of descending channel and consolidating in the range (1.5665 -1.5709) on the daily chart . You can try to put buy stop order on the 1.5709 level, put stop-loss order just below 1.5665 in this case. You can try to put sell stop order on the 1.5665 level, put stop-loss order above 1.5709 in this case. There are many false alarms possible during consolidation. It makes trading difficult. I recommend to use the tactic of re-entry.
 

Elena Chernaya, Chief Currency Strategist
ELAN Investment Solutions

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