Let's trade

Welcome trading legends,

In this blog, we’ll be trading the EUR/USD asset using the signals provided by the Tools Trades website and the IQ Option broker. Be sure to stick to the end of the video as I’ll be sharing a special promo code with you.

Allow me to explain why I’m trading this particular asset.

The Euro is trading nearly flat against the U.S. Dollar on Tuesday, but the price action suggests a tentative trade as a new coronavirus strain spread across Britain, closing key trade routes and creating a supply-chain nightmare while time was running out to strike a post-Brexit trade deal.

Low liquidity could still be a problem today, following Monday’s whipsaw trade. Many major bank players have logged out for the year. This may have exaggerated the speed and size of the dollar’s gains against other currencies. Thin trading conditions, coupled with surprise headlines could lead to more of the same kind of trading on Tuesday.

The EURUSD pair settles below the broken intraday bullish trend line, and stochastic continues to provide the negative signals, thus, our bearish overview will remain valid for the rest of the day, which targets 1.2175 followed by 1.2115 levels, reminding you that the continuation of the expected decline depends on the price stability below 1.2250.

The expected trading range for today is between 1.2115 support and 1.2280 resistance.

The expected trend for this trading session was bearish.

The euro fell by 126 points on Monday and by the end of the day it practically won back the entire fall. The fall was bought out in large volumes by the largest players in order to avoid an uncontrolled collapse. All this happened on the news about the readiness of British Prime Minister Boris Johnson to back down in the fishing dispute with the EU, setting the quota at 66% of the current volume.

The daily chart shows that the reversal divergence of the price and the oscillator remains. Marlin continued to move down, trying to get out of the growth zone. The downside target at 1.2040 that was formed by the price channel line is still present. However, there is a possibility of forming a double divergence. At the same time, the price will try to rush to the target level of 1.2330, and only then will it reverse into a medium-term decline.

The four-hour chart shows that the price fell below the MACD line, then went back above it, and is currently preparing to move below it. Also, the Marlin oscillator, after the signal line went into the negative area, returned to the growth area, and intends to fall again. The condition for accomplishing this move is for the price to fall below the MACD line, under 1.2205. If this condition is not met, then the double divergence option is implemented.

As you can see the signals from the Tools Trades website have worked!

The promo code that you see on the screen will give you more trading signals if you use them on the Tools Trades website.

Be sure to watch my other videos on the channel and read the blog page so you learn more. If you want more videos like this be sure to like and subscribe. May the Forex be with you.