EURUSD Trading strategy: stand aside Euro’s recovery against the US dollar on yesterday fails to suggest much and a clear breach above 1.4045/50 is required to signal a resume of the uptrend. Current pullback to 1.3970 at the time of this writing seem corrective and support at 1.3950 or lower, at 1.3900/25 should hold in Read More
Thursday 07-09-2009
EURUSD Trading strategy: small long at 1.3940, initial stop at 1.3890, objective at 1.4040. Adjust stop to breakeven on +30 pips (at 1.3970) if reached Intra-day resistance is being tested at 1.3935/50 and a breach above should open the 1.4000 handle for a later test. Daily sentiment remains slightly bearish and a break of 1.4050 Read More
Wednesday 07-08-2009
EURUSD Trading strategy: stand aside The euro pulled back to 1.3900 after the modest test against the 1.4030/50 resistance zone. A potential breakout of the said resistance could have signaled a resume of the uptrend but downside pressure in crude and equities favour the selling on rallies to/above the 1.4000 handle. Current move is most Read More
Tuesday 07-07-2009
EURUSD Trading strategy: stand aside The euro managed to close 20 points higher on yesterday, after sliding to as low as 1.3877 before the US trading session open. Intra-day resistance is formed on the 1.4000 handle, followed by another barrier a few points above, into the 1.4030/50 region. On a sustained breach above 1.4030/50, the Read More
Monday 07-06-2009
EURUSD Trading strategy: stand aside Support into the 1.3950 region is formed by a rising trend line started at 1.3425 on May 18, extended through June’s lows. The euro currently tries to push on the upside, testing the intra-day resistance on the 1.4000 handle. Downside pressure is high since the euro failed to overcome the Read More
Friday 07-03-2009
EURUSD Trading strategy: stand aside Intra-day support on the 1.4100 failed to hold on yesterday and the pullback extended in the overnight trading to 1.2930, before recovering to 1.4000 at the time of this writing. Minor resistance is formed by the 1.4 handle and a breach above would open the more notable barrier at 1.4050/65 Read More
Thursday 07-02-2009
EURUSD Trading strategy: long at 1.3985, initial stop at 1.3935, objective at 1.4055. Adjust stop to breakeven on +30 pips (at 1.4015) if reached. Alternative idea: long at 1.4160 on the break of 1.4150, initial stop at 1.4110, objective at 1.4240. Adjust stop to breakeven on +30 pips (at 1.4190) if reached Yesterday’s boost to Read More
Wednesday 07-01-2009
EURUSD Trading strategy: stand aside The euro lost some ground on yesterday as it failed to hold gains above the 1.4100 handle, and closed lower – therefore affecting the monthly bar that has been closed by 110 points below the open price of 1.4145 which provided the turning point resistance on yesterday’s initial rally. Although Read More
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