[FXTrader]

Today was a great day for trading the breakout and buying it back off support at the bottom of newly forming 4hr trend channel. If it breaks up above 1.4150 I would start looking for a place to get short on a retest of the the highs or at one of the fibo retracement levels on the attached chart. If I were to get long I would prefer waiting for price to return back to the 1.4050 area as most breakouts are false breakouts. At least on the first attempts. Look for a pullback to buy into if you see a place to get long. From a long term trading perspective, I'm still bearish and will look to short rallies. Expect a lot of volatility and two way trading opportunities until we get a break lower. Remember that it's Friday so don't over extend yourself. Trade light so you can relax over the weekend. There will always be another trade. Just have a little patience.

[FXTrader]

The eur/usd came down into the buy zone and made a low of 1.4014 this week before rebounding up to 1.4169. Hopefully, you were able to spot this setup from my previous post on Friday. I would start looking to sell around 1.4170-1.4200.

[FXTrader]

The previous sell at the 1.4170 area worked out nicely. Support entered the market around 1.4125 where it consolidated most of the day and then rallied higher during the London session. I am now looking to short once again around the 1.4200-1.4250 Value Levels.

[FXTrader]

The previous sell setup around the 1.4200-1.4250 worked out well for about 50-80 pips depending on the entry. There were a few opportunities at shorting in that area. Since Friday, price has been consolidating at support, 1.4150, which was a great place to add to your longs. That won’t be the focus of this post since I didn’t get a message sent out about that setup. I am now looking to short between the 1.4250-1.4300 area. Adjust stops on any longs you’re holding and let them work. The funny thing about trends is that they are persistent and take awhile to turn around. Nevertheless, there are many great counter-trend opportunities if you know what to look for. Just don’t hold on to them as long as you would a trend trade.

[FXTrader]

New Value Levels for the euro. Look to short around 1.4300-1.4350. These are Daily and Weekly Value Levels. Remember to manage your euro longs.

[FXTrader]

The short on the eur/usd from 1.4300-1.4350 has played out nicely. Start looking to get long around 1.4130-1.4100 and then again around 1.4050.

[FXTrader]

The long on the euro from 1.4130 is working out very well. Make sure to manage your trade and consider leaving something on the table for a possible retest of the 1.4350 area or better.

[FXTrader]

The euro rally has continued nicely. I would keep looking to buy dips for the time being, possibly around 1.4250. I'll confirm that Value Level when price is near it. In the meantime, if you want a countertrend trade, look to sell the euro between 1.4370-1.4400.