EUR USD Traders Beware of the Possible Friday Pullback

The Friday pullback is a possibility given that the EUR/USD currency pair has clime to above the 1.2500 level topping off at around the 1.2540 level earlier this morning and has pullback to the low 1.2400s. At the writing of this post, about 1:41 pm Eastern Standard Time, Febuary 2, 2018, the world's most popular and most traded currency pair have picked up the pace again, hovering around the 1.2483 level. There is a possibility that the pair could pull back to the high 1.2300s, somewhere near the 1.2380-1.2394 area in an extreme dose of retraction.

The pair could also pull back to the low 1.2400s around the 1.2416 level. There is also the chance that the pair could go back above the 1.2500 level and end the day around the low to mid 1.2500s. With all this said, there is a strong likelihood that the pair would end the day around the low to mid 1.2400s (1.2416-1.2435). Again, we don't have a crystal ball, so no one including the BlockchainStar knows for sure what the EUR/USD market is exactly going to do. We can only make educated guesses as to what is most likely to happen. We still maintain an overall bullish bias on the pair with regards to whatever happens the rest of the day.

Whatever you do as a trader today, don't get caught in the possible Friday pullback. The Trailing stop at 10 pips is a good idea.

Disclaimer: This is not investment advice, so don't assume it is. This is just our honest opinions as publishers; everyone is entitled to an opinion.