Scalping the EUR at the European open

Monday 9th July at 06:15, there is synchronicity between EUR/USD and EUR/JPY for a continuation of the bull move to break out of the sideways channel, but the opposite story for Aussie and the Kiwi. This suggests a lack of synchronicity across all pairs and therefore not an ideal set up for this strategy. However, risk takers my consider placing a buy stop order above the USD and JPY pairs to catch a spike if the bull move continues.



Here is the result of buy stop orders placed on those two pairs. Each made a profit but failed to reach a 25 pip target, so, we can give today's trades two out of four

Tues 10th July at 06:00 shows lack of uniformity in the trends of these four EUR pairs. The first two indicators for our strategy are not met today, so following the rules we are advised to stay out of the market.

Similar story today on Weds 11th July. EUR pairs are scattered up and down the strength table and lacking uniformity in their trends. EUR is trending down against USD and JPY and up against Aussie and Kiwi. So according to the strategic rules we steer clear of trading these pairs this morning. Advice for risk-takers - .

Friday 13th July at 06:00. No synchronicity with EUR pairs spread out on the strength table. No trade today .

Tuesday 17th July saw EUR/USD and EUR/JPY in a bullish trend with AUD and NZD in a bearish move following the overnight news from the Aussie bank. Placing buy stop orders above the pullacks triggered long positions on all pairs with the 7 am candle. The end result shows four good trades and how EUR/USD and EUR/NZD reached their 25 pip targets.

Fri 20th July - just for educational purposes, the charts below provide an excellent example of when NOT to trade. None of the strategic rules have been met from the outset, i.e. EUR pairs are scattered throughout the strength table and there is conflict between EUR/USD and EUR/JPY on the two charts to the left with a strong AUD and NZD forcing EUR down on those pairs to the right. When we see EUR move in opposite directions simultaneously on the 7 am candle then that is a sure sign to keep out. For risk takers this morning the result would have been four bad trades .

Tuesday 24th July sees synchronicity between USD and JPY pairs but sideways channel for AUD and NZD. So, momentum indicated on the EUR/USD was exploited by reaching its support. Two good trades EUR/USD and EUR/JPY with EUR/USD reaching its support target .