scalping is widely used trading technique. most of auto trading systems work on scalping strategies. According to my experience scalping is more profitable and we can grab some profit in all market situations with both high and low volatility. In this technique we work for 5 to 15 pips in a trade and even for less than 5 pips. While having a big investment, brokers mostly offer account types that allows us to trade with small fix spread and such accounts are best for scalping.
This is our latest strategy for today and Monday - start of the new week.
Trading Strategy for EURUSD ahead of U.S. Holiday on Monday.
There remains little more than 24-hours to complete this week's trading. EURUSD in this second week of February is currently trading at about +90 pips from the start of the week. The lossing process of the Dollar continues. In the next trading hours EURUSD may make some recovery based on technical indicators from 1.2137 now to levels below 1.2100. You can find the bottom at 1.2100 or 1.2073. World-Signals.com recommend to use the level of 1.2073 as the possible bottom of trading and use this level of few pips below as a stop. So the trading strategy in the last day ahead of the U.S. Holiday on Monday (U.S. President's Day) is to try entry into a long position with stop below 1.2073 and wait for a new target up above 1.2150 that may happen in the rest Monday or during the Tuesday Asia session.
The Dollar recovery may continue a couple of hours ahead.
EURUSD hit the top of 1.2169 as this level was a signal for the selling process. The Dollar recovered from the high of 1.2169 a level reached on January 26th 2021. The recovery is already generated of 70 pips. The tendency for continued recovery remains for the next couple of hours.
The fundamental focus comes for tomorrow the key data for the U.S. Retail Sales and FOMC Minutes. The investors predict a positive Retail Sales report that is already generated by the market.
The forex market is also moved by the last records in Bitcoin - ever time high over $50000 and also the record Oil price since December 2019.
All these events may continue to support the Dollar in the next couple of hours. The tendency for Dollar recovery may stop on Wednesday (Feb 17th 2021) when World-Signals.com plans to start into long positions with a new target of 50-80 pips above or close to today's pick at 1.2169.
There are four main types of forex trading strategies: scalping, day trading, swing trading and position trading. Different trading styles depend on the timeframe and length of period the trade is open for.
How U.S. citizens will use helicopter money and how they will lose these money?
Each American citizen is on the way to receive $1200. How will they spend the money?
The question of how it is planned to order the use of the money from the helicopter, 37% of the surveyed applications, is sought in order to collect shares on the stock market.
The inflation of the stock market will continue. We can see the Dow Jones Index over 35000 and at the same time S&P close to 4200. The new investors may see the light and continue with investments. But this scenario is well known to the big fish.
World-Signals.com warn these new and old investors that it is too risky.
These people are on the way to lose the money because all these predictions and plans are already in the stock market bubble. After the spending of these money many new investors will start to lose as the shares are on the way to collapse. Dow Jones is 100% sure that will go back below 28000 while S&P may lose down to 3300. If you invest in Stock Markets our idea is that it is too late to make a good profit. Don't waste these money in Stocks it is better to use another market like investment in Metals.
EURUSD Trading strategy this week.
The strong data for U.S. ISM Services today for March of 63.7 very higher than the key border of 50.00 do not help the Dollar. ISM Services consensus expectation was 58.5 also higher than one month earlier of 55.3. The potential of the Dollar ends at levels below 1.17 and many investors open long positions with expectations to hold EURUSD long above 1.20.
Tomorrow (Tuesday 6th) is expecting EuroZone Unemployment Rate for February as the consensus and prior month report are equal to 8.1%.
EURUSD found very strong support at 1.1704 and 1.1748. World-Signals.com recommends to hold long positions and use the level below 1.1748 for stop. The target is a long-term of 1.20 and may happen in the mid of April 2021.