Current Trend= The trend remained up the entire day.
Today I only looked for long trades.
12:00am EDT– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD was negative and gaining value. This was a valid entry. The entry was at the close of the candle at 2.0325 with a stop at the most recent swing low at 2.0309. Since I was 25 pips away from the nearest 50 or 00 level, I decided to put my initial target at 2.0350.
Entry: Long at 2.0325
Initial Target: 2.0350
1:00am EDT– Unfortunately I was stopped out of my trade.
Trade Result: -16 pips; R-Multiple: -1.00
News events to watch for tomorrow :
- 5:00am EDT- German ZEW Economic Sentiment
- 2:15pm EDT– US Interest Rate Statement
For a list of all of tomorrow’s news events, check out our Forex Calendar