The DXY which has been struggling to stay above the 90.00 level of late, ran up to test its December 17th low around 90.47 in advance of the U.S. session. The U.S. equity futures pointed to a positive open and the USD began to reverse.
Earlier in the U.K. session we found a EURUSD short setup risking 11 pips for a potential 43 pips to our daily target at 1.2137. This was not an ideal setup due to the entry being near the middle of its Asian session range, so a smaller position than usual was taken. The first levels to get through were yesterday’s low and the Asian session low.
We tightened our profit stop as we approached these levels. Price continued to fall going into the U.S. open and we continued to lock in profit where the first round of U.S. economic news closed our trade.
Monday is the Memorial Day holiday in the U.S.
Good luck with your trading and enjoy your weekend!
