Good morning traders.
I don´t know about you but I´m quite glad its Friday this week. After all the event risk of the past two weeks, trading has been tricky to say the least.
It´s not that our levels have not worked just as well as they always do, more that it´s been uncomfortable being in a trade for any length of time.
With all the politics we´ve had, the midterms and Brexit in particular backed up by Italy and the FOMC (Trump having politicized the Fed via his twitter account), next week looks a little less politically volatile.
We will undoubtedly get continued Brexit volatility affecting our pair as it continues to unfold but we will have more information and I will feel less twitchy trading it!
So whats up for Friday?
The Weekly Chart
We continue to put in positive daily candles so my premise is that the eurusd looks to be reaching higher up the chart. However, not sure if we are going to get much higher today as traders will be wary of what might crop up over the weekend.
If we look at the weekly chart for a change it looks like we are putting in a bullish pinbar from an area of support on the chart and we´ve nearly tagged the 61.8% Fib level.
The Hourly Chart
The Support and Resistance levels are noted on the chart and as ever I´ll be looking to trade them by focusing in on the lower time frame charts to check for my patterns to confirm my entries.
Have a good one and enjoy your weekend!