EUR/USD Double Fall Line Trade
Good Afternoon,
A quick post with one day trade as volumes are pretty light and ranges are, well, rangebound! Not much data today, so not like I expected a gangbuster of a day, but the SPX rallied just enough to get the EUR/USD to rally:
Past performance is not indicative of future results
For a quiet day, the move from 1.2438 to 1.2500 was large enough to give a DOUBLE FALL LINE TRADE setup.
In other markets, commodities are acting a bit weak and overall, lots of entities are on their lows. Meaning, if we get poor data, it seems like new lows will be set and the 1300 to 1267 level in SPX could be tested. Let's hope the recent batch of poor economic data starts to go sideways.
See you tomorrow night for the Q2 in Review and Q3 Look Ahead
Happy Trading and Be Environmentally Cool
Coach Brian
Forex trading is one of the riskiest forms of investment available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose.
