Strategy Eur / usd

You probably heard about a possible second wave of the crisis. Here I would like to show a possible plan of action for the people involved in the currency pair eur / usd.

Already nearly two months, the euro is moving in the outset and can not determine the direction. Based on the technical (all lines of the well-known indicator of «alligator» crossed back in early June and is known from the theory of Williams, if the alligator sleeps, he will eat after awakening, that is, there is the trend. And accordingly, the longer it will be «sleep », ie, the price will move sideways flete, the« hungry »it will be, that is, the stronger and longer to move. Of course you can criticize the work of Williams, but agree that this particular method works in practice ... you can no problem to check it on the stories), the analysis can be said that the way out of this lull will be sharp and quick. Obviously, the big players are now waiting out important macroeconomic statistics for the 3rd quarter, which should have a strong impact on the stock market, which in turn vstryahnet market forex.

It is hard to say would be good news or not. Given the recent trend to pay attention to some news and skip others, to predict the movement becomes almost impossible. Strangely enough for a trader is not a fact and should be .... All that we need to find out the location of key support and resistance levels. A well-known and highly honored trader Mr. DiNapoli in his work uses the levels of correction and expansion of Fibonacci. Using them in combination with other methods of technical analysis can be said that at this time profitable to buy the recession (or already hold an open position) eur / usd in the flesh to 1,3430 (stop loss 1.2990), a key support level, a breakthrough which would cross on an upward trend with minima in March (1.2456). Support in the area of 1.3430 is a very strong level confirms its status at the historical data. The main goal of this trend is the movement of 1.5250. interim target 1.4900. When you break 1.34 to close all long on the euro and the open short position because If the euro goes down, then move to 1.2850.