Forex Trading EURUSD H4 (30 Nov 2018)
EURUSD has been moving sideways this week, price is unable to break above 1.1400 neither can it break below 1.1260.
Did not open any EURUSD position this week, had a few profitable short term trades with GBPUSD and GBPJPY instead.
As can be seen from the above GBPJPY chart, it is showing a clear sideways market of 100 pips range. Had a few profitable short term 30 to 50 pips trades this week.
GBPUSD chart is choppy and indecisive this week, had a few profitable short term trades of around 30 pips.
For this kind of sideways market, Forex scanner will come in handy today for short term day trades, filtering all 34 forex pairs, screening up to hourly time frame.
Let’s take a look at forexfactory to see if there are any major impact news (red) for the day. Note: Time is GMT (+8).
As can be seen from the calendar, there’s G20 meetings today which may cause some volatility today. The meetings are attended by finance ministers and central bankers from 20 industrialized nations including but not limited to Canada, Italy, France, Germany, Japan, UK, US.
Trade plan for today will be looking for short term trades of 10 to 30 pips profit target.
Recommended Resources
- Earn Cashback for every lot you trade. (Dad has received thousands of dollars cashback since 2011)
- If you are completely new to Forex or want to learn more advanced strategies, start your Free Forex Education here.
- Calculate your risk before entering any trade. (Good rule of thumb is to risk 1 to 2% for each trade)
- Check for any major news before entering any trade.
- Scan 34 Forex pairs on all time frames to enter the best trade.
- Invest in Bitcoin and Cryptocurrency to diversify portfolio.
Disclaimer:
By viewing any material or using the information within this site, you agree that it is general educational material and you will not hold anybody responsible for loss or damages resulting from the content provided here.
Forex trading have large potential rewards but also large potential risk. You must be aware of the risks and be willing to accept them. Don’t trade with money you can’t afford to lose.
No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website or in any of its material. The past performances of any trading system or methodology is not necessarily indicative of future results.