EURUSD Jan 26-30

Weekly

O: 1.33490 H: 1.33830 L: 1.27654 C: 1.29842
QQE: 42.115
Daily

• On the daily chart, we can see that this pair is slowly squeezing into a narrow channel.
• The movements are rather wide and support and resistances are important at this juncture.
• Look at how the week ended with a huge rejection at the bottom, leading upwards to breaking the resistance on top at 1.31160.
• If this breaks above that number, expect to see 1.35 but always keep tight stop losses and trade what you see, not what you think you want to see.
• I think we will be in for a volatile week and Monday US is already opening up with important news at 11pm which may weaken the dollar for a while.
• Expect very big swings on Thursday morning.

Hourly

• Looks like another wave down.
• We will probably see a test to the 1.3 level but the long will be rather short lived.
• Longs should be kept with tight stop losses.
• As for shorts, it may be good to bank half the trade and then let the other half ride for a mid term trade.