Trading was relatively quiet on Monday. Our yesterday’s buy position in the GBP/USD failed to reach its profit target by 0,2 pips as gains were quickly reversed towards 1.21. We will keep tabs on price breakouts above 1.2180 or below 1.2080.
The EUR/USD remained stuck within a 50-pips trading range.
The DAX consolidated between 13000 and 12700. A break above 13010 may revive some bullish momentum but we bear in mind that a short-term resistance comes in at around 13200. Below 12600 a next target is 12480.
Our trading ideas for today 5/7/22:
Long @ 1.0485
Short @ 1.0425 Trade has hit TP
Long @ 1.2135
Short @ 1.2080
Long @ 12890
Short @ 12840
Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.
Monthly results 2022:
June 2022: +333 pips
May 2022: +172 pips
April 2022: +111 pips
March 2022: +689 pips
February 2022: +531 pips
January 2022: +766 pips
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