End Of Week Brief-EUR/USD Trade Management, WTI Crude Setups And More!

Posted Friday, September 29, 2017 by
Shain Vernier • 2 min read

It has been a solid week here at FX Leaders, with many signals and recommendations trading deep into the green. We have talked about a wide variety of asset classes, from cryptocurrencies to crude oil futures. If there was an opportunity in the markets over the last five days, we broke it down and sent it your way.

As the U.S. session close nears, there are a few open trades to update and a couple of ideas for the road. Time to get to it!


EUR/USD: Open Trade, Management Ideas

Earlier in the session, I outlined a short for the EUR/USD.

EUR/USD DailyEUR/USD Daily Chart

This trade is off and running, here are the high points since election:

  • EUR/USD has traded down to a low of 1.1792, +34 pips.

  • Currently, the EUR/USD is trading around 1.1800, +26 pips.

  • Intraday timeframes are compressed, leaning to the bear.

Bottom Line: For the rest of today’s session there are no data releases to drive volatility. After the close, China releases economic statistics. Monday’s European session includes the Markit Manufacturing numbers facing the EUR and PMI numbers for the USD.

Here are the options to manage this trade:

  • Close the trade out at the end of today’s session.

  • Let it ride into Sunday’s open.

Personally, I plan to evaluate where we are at going into the close. If the trade is in the +50 pip range, I will take the payoff. If not, I will move the stop above today’s high +10 pips and leave it active for Sunday’s open.

Either way is sound strategy as the liability is protected.


Late Session WTI Crude Oil Short Scalps

So far, WTI crude has traded in a tight range. Late day extension to the bear is the best scenario to make a few bucks for the weekend.

CL Daily ChartNovember WTI Crude Oil Futures, Daily Chart


All of the previously outlined scalps are still on the board. Now, we can add a late session position trade:

  • Short from $51.21

  • Profit Target at $50.75

  • Stop loss above compression level of $51.75

Active management is big for this trade. Price should run directionally under Thursday’s low, making for a great scalp. The position trade must be managed tightly if it runs to the resistance level of $50.93. At that point, move the stop loss to breakeven.

With a bit of luck, we will get our washout under $51.21 late in the session.

Overview: Sunday’s open will bring great opportunity to trade the Australian and Asian markets. My colleagues Rowan and Arslan will bring analysis and trade ideas in real-time to the action.

As the European and U.S. session comes online, my colleague Skerdian and I will be ready to deliver trade ideas and analysis.

In addition, be sure to check out FX Leaders signals for live trading opportunities.

Next week will be a big week for the markets. Get your rest and come back ready to capitalize on the action!

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