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EURUSD Trading strategy this week

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  • EURUSD Trading strategy this week

    The strong data for U.S. ISM Services today for March of 63.7 very higher than the key border of 50.00 do not help the Dollar. ISM Services consensus expectation was 58.5 also higher than one month earlier of 55.3. The potential of the Dollar ends at levels below 1.17 and many investors open long positions with expectations to hold EURUSD long above 1.20.
    Tomorrow (Tuesday 6th) is expecting EuroZone Unemployment Rate for February as the consensus and prior month report are equal to 8.1%.
    EURUSD found very strong support at 1.1704 and 1.1748. World-Signals.com recommends to hold long positions and use the level below 1.1748 for stop. The target is a long-term of 1.20 and may happen in the mid of April 2021.

  • #2
    demo trading is good but doesnt help with market psychology

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    • #3
      how strong are these and how can I apply them?

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      • #4
        Trading ideas for EURUSD this week
        EURUSD currently hit the highest level of 1.2266. This is the record high level for the last 5-months. The highest trading level of EURUSD in 2021 is 1.2349. The big questions is the potential of Euro to hit 1.2349 and the levels above this key resistance.
        Since the beginning of April 2021 EURUSD is in upward trend.
        In the last week of May is expected to show key news for U.S. Durable Goods report on Thursday and Initial Claims to confirm that the jobs market recovery is very slow.
        World-Signals.com trading strategy this week is to use short positions with target at 1.2210. If it breaks below 1.2210 we can see levels of 1.2165. The move above 1.2266 is sure to happen but the move may stop at 1.2290/1.2300. The level of 1.2349 may not hit this month. So use the current levels to trade into both directions and if you use long positions try to open at 1.2170 up to 1.2210 and expect target 1.2260.

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        • #5
          Which strategy is the best to scalp with for this weeks EURUSD currency pair? Choose pairs with the lowest spreads or pick more volatile pairs?

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          • #6
            Originally posted by Patrick-1 View Post
            Which strategy is the best to scalp with for this weeks EURUSD currency pair? Choose pairs with the lowest spreads or pick more volatile pairs?
            I would pick both to be honest. You want fast moving pairs to get out quickly but also low spreads to make sure youre profit isnt swallowed up by them. I like GU and GN

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