EURUSD Trading strategy: small short at 1.5555, initial stop at 1.5585, objective at 1.5465. Adjust stop to breakeven on +30 pips (at 1.5525) if reached. The greenback recovery continued on yesterday, recovereing its recent losses. Fibonacci support at 1.5490 managed to halt the Euro decline for now but it feels heavy and the support may Read More
Thursday 05.29.2008
EURUSD Trading strategy: small long at 1.5495, stop at 1.5460, objective at 1.5555. Adjust stop to breakeven on +30 pips (at 1.5525) if reached. The sell-off brought the Euro into support zone below 1.5650 on yesterday. The decline is not over as the pair is currently testing support into the 1.5580 region. Although the daily Read More
Wednesday 05.28.2008
EURUSD Trading strategy: stand aside The Euro is trading with a well bid tone this morning, recovering after yesterday’s pullback into the 1.5660 zone. Strong support is formed at 1.5650 and while it remains intact, the short-term bullish structure will stay intact and the Euro may advance higher towards the 1.5940-1.6 region. On near term, Read More
Tuesday 05.27.2008
EURUSD Trading strategy: small long at 1.5802, stop at 1.5772, objective at 1.5882. Adjust stop to breakeven on +30 pips (at 1.5832) if reached. The Euro is orbiting around the 1.5800 mark this morning, suggesting that a rally towards the 1.59 zone is near. Intra-day support is formed at 1.5740 backed by 1.5695 and 1.5650. Read More
Monday 05.26.2008
EURUSD Trading strategy: stand aside The greenback continued to stay under pressure while commodities climbed higher along with the Euro which now trades comfortably into the 1.57 zone being well supported into the 1.5690-1.5700 zone. Current consolidation within the 100 points range helps the Euro to gather momentum for a break of 1.5800. The daily Read More
Friday 05.23.2008
EURUSD Trading strategy: small short at 1.5865, initial stop at 1.5905, objective at 1.5805. Adjust stop to breakeven on +30 pips if reached. The Euro pulled back on yesterday but stable support has been confirmed at 1.5700. If it holds, a test of the near resistance zone at 1.5800-13 is possible. Intra-day sentiment is neutral Read More
Thursday 05.22.2008
EURUSD Trading strategy: small long at 1.5725, initial stop at 1.5690, objective at 1.5800. Adjust stop to breakeven at +35 pips if reached. The 1.6 zone comes closer as the Euro skyrocketed towards 1.58 by more than 150 points a day during the last 48 hours. Yesterday’s resistance zone of 1.5720-1.5740 has been broken and Read More
Wednesday 05.21.2008
EURUSD Trading strategy: small long at 1.5580, stop at 1.5545, objective at 1.5645. Adjust stop to breakeven on +35 pips if reached. Short-term bullish structure is now confirmed by yesterday’s break of the fib resistance level at 1.5650. Another set of resistance levels are emerging into the 1.57 area at 1.5720 then 1.5740 which is Read More
Tuesday 05.20.2008
EURUSD Trading strategy: stand aside The Euro failed to hold its gains above the 1.5600 mark and declined into the 1.5490 zone on yesterday. The failed attempt to remain above the previous week’s established resistance zone around 1.5550 suggest that range trading may continue and lower bids into the mid 1.54 zone and below could Read More
Monday 05.19.2008
EURUSD Trading strategy: Small long at 1.5480, stop at 1.5440, objective at 1.5545. The rally into the second half of the 1.55 area seen on Friday favors the upside now on short and medium term basis and while support at 1.5550-60 and lower at 1.5500 holds, the Euro may extend its gains towards 1.5650 where Read More
Friday 05.16.2008
EURUSD Trading strategy: stand aside The Euro continues to look for direction into rangebound configuration. A break above 1.5595 preferably 1.5650 is needed to confirm a resume of the uptrend while the downside should extend below 1.5360 to re-establish bearish structure on short-term studies. Intra-day support is seen at 1.5435, 1.5400 and 1.5365 while resistance Read More
Thursday 05.15.2008
EURUSD Trading strategy: small long in the 1.5515 on break of 1.5500, initial stop at 1.5480, objective at 1.5590. Adjust stop to breakeven on +30 pips if reached The dollar made some minor gains Vs EUR on yesterday but they were short-lived and the Euro recovered after testing support into the 1.5395-1.5420 zone. The short-term Read More
Wednesday 05.14.2008
EURUSD Trading strategy: small short at 1.5420 on break of 1.5435, stop at 1.5455, objective at 1.5370. Yesterday’s pullback into the mid 1.54 zone suggests that more rangebound action is likely to be seen into the 1.5450-1.5550 zone. Downside risk remains high since the dollar bulls are back and only above the 1.5595-1.5650 resistance levels Read More
Tuesday 05.13.2008
EURUSD Trading strategy: small long at 1.5585 on break of 1.5570, stop at 1.5545, objective at 1.5635. Positive momentum starts developing on the daily studies as yesterday’s break through the 1.5490-1.5515 resistance zone suggests that a mid-term bottom may be formed at 1.5285. Although the daily studies seem to favor a climb higher towards the Read More
Monday 05.12.2008
EURUSD Trading strategy: stand aside Not much happened on Friday as the EURUSD remained trapped inside the 1.5420-1.5490 range. The Euro has failed to climb past the 1.5500 level although the dollar has been weak across the board and the surging oil price was favoring such a move. The Asian session’s decline below the intra-day Read More
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