Tuesday should be another good day for trading the Eur/Usd. What am I talking about, every day is a good day for trading 🙂
We have seen some great upward price action for the Euro and the best traders always ride the trend until it stops. So we had some big gains yesterday and I look for them to continue. It appears that we have a bull flag forming which indicates more future gains.
The pending homes sales number should be a big news event today and I would think if there is good number there we could see more gains, but if the number is a surprise to the downside I think the Euro may stall a little.
This is a good time for trading but make sure you stick to your plan and follow your trading rules. Don’t be stupid and throw away any big gains because you want to be greedy.
10 Min Chart –
Winner’s Edge Trading, as seen on: