MY SQUEEZE PLAY: EUR/USD TODAY 08 MAY

I’m not sure if I’m superstitious but I generally stay away from the markets on Friday’s. I take a chill pill and enjoy my wonderful pips gained during the week. However today is an exception.....it’s looking like a near nothing week and I fill restless. PA has been all over the place, but really; ‘What did you expect?’

We’ve had the stress test results (World’s worst kept secret), ECB and BOE rate decision and Non Farm payrolls due 13:30 BST today. Oh baby…that should be fun. If we see USD get stronger before Non-Farm is released (HINT), we could see EURO explode after the news. I think the numbers should be better than expected. A strong USD should give me that opportunity to enter into a long EURO trade.

Here’s my squeeze play: I’ve been long EUR/USD and I’m looking to add to my position. I’m expecting PA to test the 1.3310 zone. If it holds I’m buying. SL @ 1.3250 TP @ 1.3460.


Got a better play? …let me know.

Happy Pippin.



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