Profitable Start To The New Week
Monday started off with a profit for traders as dollar bulls took a breather, pushing other currencies higher in return. As expected, we thus saw some rebounds in short-term time frames. The British pound rebounded from oversold price levels and took out the 1.37-barrier. We went long in the GBP/USD at 1.3665 and were able to take profit around 1.37. We now pencil in a next resistance zone between 1.38-1.3830.
The rebound in the EUR/USD proved to be slightly smaller with the euro hitting an intraday high at 1.1750. Above 1.1770, we expect the pair to test 1.18 and possibly even the area around 1.1830.
The DAX tested the 15800-level on its hold after the short-lived breakout above 15920 failed to provide any follow-through. Our short entry provided traders a good profit. We continue to pay attention to a sustained break above 15920 in order to shift the focus to 16050.
Daily Forex Signals:
If you are keen to know where we put Take-Profit and Stop-Loss, if we trade on a specific day or not and how we manage open positions, subscribe to our signals
We wish you good trades!
Any and all liability of the author is excluded.
Copyright © All Rights Reserved 2021 MaiMarFX.
Follow us on social media: