Trading tight markets can be profitable. For the NZD/USD, a key level is coming into view:
Big-Round-Number, 0.64000
Until 10 minutes before today’s Fed Statement (1:50 PM EST) here's the trade:
1) Buy 0.6406
2) Initial stop loss at 0.6394
3) Profit target at 0.6418, 12 pips on a tight 1:1 risk vs reward ratio.
If this trade hasn’t gone live before 2:00 PM...
The EUR/USD is working on its seventh consecutive losing session. Is there any way this trend turns around? Right now, it’s too early to tell. One thing we do know is that March’s low is coming into view and the EUR/USD is trading at March 2020 levels.
Key levels to watch for the trending EUR/USD:
Support (1): March’s Low, 1.0805
Support (2): Big-Round-Number,...
Finally, the USD/CAD has broken out. If we see the 1.2500 big-round-number give way, a buying opportunity may set up nicely.
Here it is:
1) Buy 1.2459
2) Stop loss at 1.2419
3) Profit target at 1.2499, 1:1 risk vs reward
On the EUR/USD front, our key 2-way level at 1.1000 is coming back into view. If we see a test of this area ahead of the weekend, a buying opportunity may come to pass.
Here's the trade:
1) Buy 1.1009
2) Initial stop loss at 1.0984
3) Risk vs reward is 1:1 for 25 pips
This will be the third time in the past week that this number has produced an opportunity and...
