Euro Choppiness is Out of Control – Let’s Wait for a Break

| 4 april, 2013 | 0 kommentarer

ssi_eur-usd_body_Picture_12.png, Euro Choppiness is Out of Control  Lets Wait for a Break

EURUSD – Impressively choppy Euro/US Dollar price action has made for similarly indecisive forex trading crowd sentiment, and we’ll need a significant break of support or resistance to favor new trades.

Trade Implications – EURUSD: Our purely sentiment-based Momentum2 strategy most recently sold Euro from $1.2877, while our volatility-friendly Breakout2 system sold at $1.2784 only to get stopped out on the post-ECB surge. Needless to say it’s been a confusing day of trading, and choppy price action is never kind to our trend-following and breakout-based systems.

Our Senior Technical Strategist is waiting for the Euro to break to key support at $1.2660 or a break above $1.2890 to take a strong trading bias. Keep stops tight and trade with reduced leverage given extreme choppiness across major forex pairs.

Written by David Rodriguez, Quantitative Strategist for DailyFX.com

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

ssi_eur-usd_body_1a.png, Euro Choppiness is Out of Control  Lets Wait for a Break

View how to automate the high-volatility Breakout2 Trading System via our previous article and webinar recording.

Auto trade the trend reversal-trading Momentum2system via our previous article and webinar recording.

Trade with strong trends via our Momentum1 Trading System and view an archived webinar

Use our counter-trend Range2 Trading system and view an archived webinar guide on automation

New to FX markets? Learn more in our video trading guide.

Contact David via

Twitter at http://www.twitter.com/DRodriguezFX

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Kategori: Analys från DailyFX

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