Looking at another Currency

Good Morning Dynamic Traders,

Hope you had good start to what seems to be a very cold week ahead.

I think it’s time to maybe move on from the Yen and to start following another currency. Currently the Yen is working out what it wants to do, and potentially once it has decided which direction to go in healthy profits could be on the horizon. This is why it is important to get prepared for a long and short position so that we are ready for the move. This cross will definitely be on my watch list.

I haven’t completely decided which cross to look at now, so I thought that I would talk a little bit on the EUR. In the day chart below you will see that the EUR has been in a steady uptrend. Recently price has performed a pull back and seems to be eyeing up the opportunity to continue its journey up. You may want to consider putting this cross on your watch list because if price breaks above the pivot point (that I marked in the day chart below), this could be where the uptrend continues and would also be the area for a long entry.













Happy Trading

Richard Monnery