FX CHART OF THE DAY: EURUSD BREAKOUT TRADE
EURUSD breaks out of 1st standard deviation from weekly (120-h) mean after failing to reach the mean itself.
Expanding volatility (measured by 3.2 st deviations from weekly mean) hints at a possible leg of uptrend from here on.
Traders an take long positions close to the upper 1st standard deviation (1.1205) and stop at the weekly mean (1.1165)
No significant news event are incoming through the rest of the week, so unexpected volatility risks are small
Expanding volatility (measured by 3.2 st deviations from weekly mean) hints at a possible leg of uptrend from here on.
Traders an take long positions close to the upper 1st standard deviation (1.1205) and stop at the weekly mean (1.1165)
No significant news event are incoming through the rest of the week, so unexpected volatility risks are small
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