The Asian session saw the EURUSD move lower and as the U.K. traders began their day, breakout shorts were tricked, and the pair briefly moved higher taking out stops. A second test of the Asian low found some buyers for one candle which was followed by a bearish engulfing candle and a close beneath the Asian session lows. A short was taken risking 18 pips for a potential 53 pips to our daily target at .9763.
Price tested yesterday’s low for an hour after our entry, before descending to our target where the trade was closed.
Thursday will be an eventful day on the economic calendar.
Good luck with your trading!
