Eurodollar is doing a spas-mic Trend inside of an ending diagonal into a Shoulder level. The pattern & target projections are very similar to these previously shown on Sterling dollar.
Prudent money management would dictate a different strategy however.
If the Sterling dollar is to be regularly and continually day traded / or intra-week traded on higher exposure to risk & short term yields. (it is usually the more volatile of the two). A more suitable strategy for the Euro dollar would be to incrementally "park" money into the position (say 7% of account size), by parking 1-1.5% incrementally every 20 pips between <1.0870 1.10>
by seizing opportunities on retractions out of ending diagonal shown.
The whole accumulation can then be held to 1.15 over a 3Mn (1 QR) duration. This will be a (-ve) swap trade, and therefore there will be carry costs incurred.
Profitable Trading
Summeset
Prudent money management would dictate a different strategy however.
If the Sterling dollar is to be regularly and continually day traded / or intra-week traded on higher exposure to risk & short term yields. (it is usually the more volatile of the two). A more suitable strategy for the Euro dollar would be to incrementally "park" money into the position (say 7% of account size), by parking 1-1.5% incrementally every 20 pips between <1.0870 1.10>
by seizing opportunities on retractions out of ending diagonal shown.
The whole accumulation can then be held to 1.15 over a 3Mn (1 QR) duration. This will be a (-ve) swap trade, and therefore there will be carry costs incurred.
Profitable Trading
Summeset