EURUSD. Trend is downwards on the daily chart. A pair is consolidating in the range (1.3601- 1.3694). You can try to put buy stop order on the 1.3694 level, put stop-loss order just below  1.3601 in this case. You can try to put sell stop order on the 1.3601 level, put stop-loss order above 1.3694 in this case. There are many false alarms possible during consolidation. It makes trading difficult. I recommend to use the tactic of re-entry.


GBPUSD. Trend is downwards on the daily chart. A pair is consolidating in the range (1.4961- 1.5137). You can try to put sell stop order on the 1.4961 level, put stop-loss order above 1.5137 in this case. You can try to put buy stop order on the 1.5137 level, put stop-loss order just below  1.4961 in this case. There are many false alarms possible during consolidation. It makes trading difficult. I recommend to use the tactic of re-entry.

 
Elena Chernaya, Chief Currency Strategist
ELAN Investment Solutions

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