Forex Market Insight
For Monday 22nd July 2019
EUR/USD Market Outlook for Today
This video gives you more clarity on today's trade signal. Right now that pair is in a channel we are not sure of how long that will take but for now, we can see it's trapped between 1.13093 and 1.11955.
The most realistic thing to do is just to take 50 pips profit and leave an allowance of 30 pips for the market to dance around. Anything beyond 30 pips, the trade no longer makes any sense again as a bullish trade.
AUD/USD Market Outlook for Today
AUD/USD on the other hand is counting an elliot wave pattern. By the time I'm typing this market report, the 4hour candle that's supposed to confirm the trend as a wave 4 eventually closed as a doji candle. The trend is still going down so for now the best option is to look and see what happens next.
Nothing much is going on as an economic news release this week. You can check the Forex trading calendar, set you timezone and have a view of what is going on with the Major Pairs.
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