Today’s Potential New Breakout Signals
Today we highlight five potential breakouts in progress that could maintain interest into today’s close of trade. Of these, USDRUB is actively in breakout if it closes at the current level, as is GBPAUD, which has poked to new lows intraday. EURSEK is also close to a breakout level and USDCHF likewise. It is worth noting that US markets are closed today, so volatility may edge lower toward the end of the European session today.
Table: Five potential breakouts today and methods for trading
Note that the stops for the example entry levels are a bit more than 1 ATR from the example entry level (trade size or stop level may need adjusting depending on entry level to reduce risk). These are not trade recommendations, rather examples for how to trade the breakouts. Exit date is simply nine days after trade entry, but 7-9 days is a rule of thumb for holding period and can be shorter still as stops should be partially trailed once a trade moves significantly into profit.