EURUSD Trading strategy: stand aside The euro continued to advance higher on yesterday and gained 220 points, testing offers around 1.3335. Upside is under pressure as the euro manages to maintain a bid tone against the greenback, trading into the 1.3320 region at the time of this writing. While first intra-day support at 1.3220 remains Read More
Wednesday 04-29-2009
EURUSD Trading strategy: short at 1.3380, initial stop at 1.3430, objective at 1.3280. Adjust stop to breakeven on +30 pips (at 1.3350) if reached. The euro recovered most its Monday losses against the dollar and the upside is under pressure ahead of the Fed Interest Rate Decision later today. Two short-term barriers are seen a Read More
Tuesday 04-28-2009
EURUSD Trading strategy: stand aside Downside is under pressure as the euro failed to hold recent gains and declined, erasing most of last week’s gains. Minor support is formed around the 1.3000 mark, backed by more relevant barriers at 1.2950 – 61.8% of the 1.2455-1.3735 upward move – then 1.2885 – monthly bottom. Both intra-day Read More
Monday 04-27-2009
EURUSD Trading strategy: long at 1.3085, initial stop at 1.3035, objective at 1.3185. Adjust stop to breakeven on +30 pips (at 1.3115) if reached. The decline initiated at 1.3300 continues to pressure the downside and Friday’s gains from 1.3110 th 1.3300 are almost cleared out as the euro is currently testing bids at 1.3145. If Read More
Friday 04-24-2009
EURUSD Trading strategy: stand aside The euro advanced higher against the dollar and easily breached the resistance at 1.3140, currently aiming the 1.3200 one – formed by the 61.8% retracement of the 1.3390-1.2885 down leg. Upside should remain favored now, while intra-day support levels at 1.3140 and 1.3050 will hold on potential pullbacks. Next bullish Read More
Thursday 04-23-2009
EURUSD Trading strategy: short at 1.3140, initial stop at 1.3190, objective at 1.3040. Adjust stop to breakeven on +30 pips (at 1.3110) if reached. Although it managed to breach above the 1.3 mark on yesterday, the euro had a hard time approaching the 1.3050 zone, intra-day resistance formed around 1.3035 being stable enough to hold Read More
Wednesday 04-22-2009
EURUSD Trading strategy: long at 1.2960, initial stop at 1.2910, objective at 1.3085. Adjust stop to breakeven on +30 pips (at 1.2990) if reached. Minor intra-day support is formed around 1.2915 by a rising trend line started at 1.2885 on Monday, extended through yesterday’s lows. On a potential recovery, the euro will face interim resistance Read More
Tuesday 04-21-2009
EURUSD Trading strategy: stand aside The euro is currently recovering some of its losses after losing another 130 points on yesterday, reaching lows into the 1.2885 area. Downside is likely to remain under pressure and extended rallies will probably be limited by upside barriers into the 1.3020 zone then higher, at 1.3100. Current exchange rate Read More
Monday 04-20-2009
EURUSD Trading strategy: short at 1.3115, stop at 1.3165, objective at 1.3015. Adjust stop to breakeven on +30 pips (at 1.3085) if reached. Downside remains under pressure as the important support at 1.3100 couldn’t hold. The decline below 1.3100 has extended to as low as 1.2965 earlier today, only 20 points away from the next Read More
Friday 04-17-2009
EURUSD Trading strategy: short at 1.3170, initial stop at 1.3220, objective at 1.3070. Adjust stop to breakeven on +30 pips (at 1.3140) if reached. The euro continued to pull down against the greenback and the support at 1.3100 is under heavy pressure at the time of this writing. A break below 1.3100 will probably open Read More
Thursday 04-16-2009
EURUSD Trading strategy: stand aside Downside is under pressure as the euro failed to breach above 1.3300 on yesterday. The rising trendline support started at 1.2455 extended through 1.3090 is being tested at the time of this writing and a break below the 1.3150/65 support region may favor further losses toward key support on the Read More
Wednesday 04-15-2009
EURUSD Trading strategy: stand aside Weakening into the lower half of the 1.32 area, the euro maintains the heavy condition after yesterday’s failed attempt on advancing back into the 1.33 area. However, while support at 1.3240 – 50% of the last upward move from 1.3090 to 1.3390 – holds, a recovery should begin, aiming toward Read More
Tuesday 04-14-2009
EURUSD Trading strategy: small long at 1.3240, initial stop at 1.3190, objective at 1.3340. Adjust stop to breakeven on +30 pips (at 1.3270) if reached. The euro bounced on the 1.3095/00 support formed by the 50% retracement of the 1.2455-1.3735 move, forming a double bottom along with 30 March low. The 265 points rally on Read More
Friday 04-10-2009
EURUSD Trading strategy: stand aside Key support on the 1.3100 mark has been reached on yesterday’s decline as the euro failed to climb past resistance of 1.3330. A quiet day is expected due to the long Easter weekend. The euro should remain heavy while holding below 1.3330/35 and a break above 1.3400 is needed to Read More
Thursday 04-09-2009
EURUSD Trading strategy: small long at 1.3315, initial stop at 1.3265, objective at 1.3395. Adjust stop to breakeven on +30 pips (at 1.3345) if reached. The euro recovered some lost ground on yesterday and managed to close into the 1.3250 zone. Hourly sentiment is bullish and the recovery may continue towards important upside barriers emerging Read More
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