Browse Symbol Stacks: EURUSD: Blanks of the trader

Last week proved to be full of events when volatility increased across major instruments in FX space. That was mainly to do with fundamental events coming from US, but perhaps technical traders were not really concerned with it, as price formation on the charts was reflecting enough in order to be able to make up traders mind. Out of 3 setups last week, only GBP/USD came into play, having said that it was a big one depending on the entry, netting about +250 pips so far. Option space on FX side was favoring PUT's on USD denominated pairs, particularly EUR/USD shoot to the moon by the end of the week, hedging nicely any longs that traders may have expecting much more modest pullback than the hammering that took place last week.

Coming week looks much more moderate, as it is very likely that some contraction will take place in terms of price action. I have only one setup under my radar that will need more confirmation in order to be taken more seriously onboard in my book. EUR/USD came very close to 1.3470 area where regardless of overall long term direction of this market some pullback north is very likely.

It appears to be very dry week coming ahead of us for long term moves, perhaps some traders will be looking at the lower time frames to catch more short-term moves. Alternatively it may be good time to take some perspective and get a good read while waiting for the new setups to occur. Scroll up if you fancy some reads in a meantime.

Have a good one traders!