How to gauge the EUR/USD weakness from today

I’ve got short the EUR/USD based upon the “two to four o’clock” 34EMA Wave angle on the daily time frame. This set up however has the Wednesday ADP number to deal with as well as all the anxiety of Friday’s NFP so…

even though I am ahead with the short sell “fade” trigger at 1.4495, I have to begin to wonder how much lower the pair will go, especially when you look at the economic calendar for Wednesday morning and all the EUR data that’s ready to roll out.

I recorded this and I’m calling it the Forex Two Minute Drill. I love football, I love forex, and there nothing like a short video to explain my trade. If you all like these, please do let me know, and I’ll do more of these in the future.

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  • Raghee Horner

    I’ve got a follow-up vid for this Two Minute Drill that I’ll post today. It explains the entry as well as risk-based, break-even,  and trailing stops.

  • Aloaksi

    What is the program/website that you used that displays all the upcoming calendar data sorted by currency?

  • Raghee Horner

    Aloaksi, there are a few I look at. There is of course the one here at Baby Pips… as well as Forex Factory and FXStreet. My recommendation is to start with one of these each day. So for example, if you are here at Baby Pips reading the blogs, start here. I like to compare consensus numbers between different sites to see if there is any variance in expectations.

  • Aloaksi

    Thank you for taking the time to reply.  I’m really a forex newb, so every little bit helps.

    • Raghee Horner

      Aloasksi, that’s why me and the rest of the “FX-Men” are here! Glad to help! (Now if ONLY the BabyPips guys would give me a superpower!)

      If you haven’t already, be sure to go through the Baby Pips school! One of the best you’ll find on the web… and you can also visit my You Tube channel with more videos at… as well as analysis site at http://www.dailyforextradinged