Euro Dollar again.

Good afternoon Dynamic Traders,

I hope you are all enjoying your well earned break this weekend and are looking forward to your week of trading ahead.

Today I am looking at the Euro Dollar which I mentioned on Wednesday evenings blog. Since then it has moved up nearly 300 pips in two days, well done to those of you that took that trade.

Friday afternoons big action also took price north over the trendline from mid December and so if you did not decide to analyse this for yourselves and take the trade, now could possibly be time to look at it from a more conservative approach with ESLT.

If you then go down to the lower tomeframe ( not shown here ) you may see a pullback is perhaps coming and so a tighter entry again could possibly be determined from here, as this looks like a possible bullish flag is forming, therefore patience once again has to be applied as we have to wait for confluences to gather together to stop us chasing the trade. If these do happen then the 1.2950 area or even the 1.3200 area could be seen in the near future.

Please do your own complete analysis on any trades and be patient.














Charts courtesy of TradeStation.

Good luck for the upcoming trading week.

Clayton Farnworth.