Hi, I'm Chris Capre, founder of 2ndSkiesForex. I'm a verified profitable trader and trading mentor. As a professional trader, I specialize in trading Price Action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18 years of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.
Today’s Forex Signal July 15th
EURUSD – 1st Time in a Year
For the first time since late last year, the EURUSD has broken above the daily Kumo and it did so with style closing up super strong and towards the highs of the day. Now that it has broken above, what is next for the pair?
Generally there are two scenarios that play out with flat top Kumo Breaks;
1) the pair goes on for a huge runner and never comes back
2) the pair retraces back to the flat top
If the 2nd scenario happens and the pair uses it as support, we suspect the next upside target is 1.2975 which is the 61.8% fib of the 1.3675 – 1.1875 downmove. A daily close above this obviously tests 1.3000 but then has room up to 1.3150 and beyond.
The trend has changed for the pair for sure so short and medium term plays have to be looking north. Once a daily close above the 61.8% fib happens, then we have to look at the fib pullbacks from the high of 2009 to the low of 2010 for levels to watch.
If you would like to find simple high-probability trades using pivots and price action only, you can check out the Advanced Price Action or the ProForex Course which will teach you rule-based proprietary systems to trade these profitable setups.
If you have any questions about our courses, feel free to email me via the Contact Page and make sure to comment below!
Want More? My private members get all my trade ideas & market commentary 4x per week. Click here to become a member.