CashBackForex
CashBackForex Representative
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EURUSD, EURJPY.
As we mentioned in our missive Tuesday, we suggested you can try the short side of the EURUSD on a rally toward the 1.30 handle. We had two very strong days following that, and were trading close to 1.2960 Friday. With a swing trade like this there is risk, so it may be best to initiate the trade with a small position, manage your money and add to the position if it turns profitable. The weekly chart looks strong, but the pair is into a congested area.
Another short-term trade that might be considered is selling the EURJPY. Just as the Euro has been strong, the yen has been very weak. The 14-day RSI is above 72 in the Euro versus the Yen. Again, watch your money, this is not a long-term trade.
Any opinions, news, research, analyses, prices, or other information contained in this post are provided as general market commentary, and do not constitute investment advice from CashBackForex.com and/or CashBackForexUSA.com
As we mentioned in our missive Tuesday, we suggested you can try the short side of the EURUSD on a rally toward the 1.30 handle. We had two very strong days following that, and were trading close to 1.2960 Friday. With a swing trade like this there is risk, so it may be best to initiate the trade with a small position, manage your money and add to the position if it turns profitable. The weekly chart looks strong, but the pair is into a congested area.
Another short-term trade that might be considered is selling the EURJPY. Just as the Euro has been strong, the yen has been very weak. The 14-day RSI is above 72 in the Euro versus the Yen. Again, watch your money, this is not a long-term trade.
Any opinions, news, research, analyses, prices, or other information contained in this post are provided as general market commentary, and do not constitute investment advice from CashBackForex.com and/or CashBackForexUSA.com
