Game Plan:11/16/12

Market:  Eurex EURO STOXX 50 Index Futures, $FESX_F

Trading Levels:  2430/2480

Target:  2390/2510

Since yesterday's Game Plan has been published the situation from a market perspective didn't change much, we are “stuck” in this 80/40 range whose breakout can lead to quite interesting trading scenarios.

The support breakout at 2430 will lead to a 40 points move straight to test the 2390 first and 2360, while the breakout of the resistance level at 2480 could drive the market to test the 2520 and 2560 later.

The breakout has to be driven by the $EURUSD whose bounce since 1.2665$ did not lead us to trade the short side of the market in these days.  If the common currency will trade above the 1.2780$ mark we will go for long setups below the 1.2700$ we will look at short ones, where our bias is pointing out.

 

Originally posted at www.77sigmatrading.com

Posted In: NewsForexGlobalMarketsTrading Ideas
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