5 Lot Forex Eurusd

Forex Trading EURUSD H4 (5 Dec 2018)

EURUSD failed to break above 1.1400 yesterday (Forex Trading EURUSD H4 (4 Dec 2018)) and is currently still range bound.

Staying at the sideline for this pair for today.

Had a profitable trade for GBPUSD today.

GBPUSD price entered around 1.2758 and hit profit target 1.2790 (32 pips).

As we can see from the chart, price is rejected at the descending trend line, hence profit target is set below the trend line, similar to the profit target of 1.2800yesterday.

Let’s take a look at forexfactory to see if there are any major impact news (red) for the rest of the day.

Note: Time is GMT (+8).

As can be seen from the calendar, there’s CAD overnight interest rate announcement at 11pm.

The forecast is 1.75% which is same rate as the previous rate.

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Generally, if the interest rate increase, the currency will be stronger. There may be high volatility if the actual rate differs from the forecast.

Next, we have AUD retail sales release next day at 8:30am which is a vital consumer spending data.

Generally, if the actual retail sales is greater than the forecast, it will be good for the currency.

Trade plan for today will be to avoid CAD pairs till after 11pm.

Trading the EUR/USD? Avoid this Trap! (Warning!) ❗

Will be looking for short term trades between 15 to 35 pips profit.

Forex scanner will come in handy for such short term day trades, filtering all 34 forex pairs, screening up to hourly time frame.

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Summary

Article Name

Forex Trading EURUSD H4 (5 Dec 2018)

Description

EURUSD failed to break above 1.1400 yesterday and is currently still range bound. Staying at the sideline for this pair for today.

Had a profitable trade for GBPUSD today. GBPUSD price entered around 1.2758 and hit profit target 1.2790 (32 pips).

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As we can see from the chart, price is rejected at the descending trend line, hence profit target is set below the trend line, similar to the profit target of 1.2800 yesterday.

Author

GiftOurPrecious

Publisher Name

GiftOurPrecious

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