EURUSD Trading strategy: small short at 1.2720, stop at 1.2780(0.5% risk), objective at 1.2620 Support at 1.2650 is again under pressure as the euro failed to maintain its course, erasing most of last week’s gains. Next downside barrier comes below 1.2650 at 1.2590/05 which is also the 50% retracement of 1.1875-1.3335. Short-term studies are bearish Read More
- Continue reading: Daily analysis and trading strategies 8-31-10
EURUSD Trading strategy: standing aside Euro’s consolidation above 1.2700 continues but its recovery is still modest, upside being capped by 1.2770 – following the EURJPY which is facing resistance around former support zone, at 109.25. Short-term studies are bearish while the pair is trading below 1.2900 and its recovery being weak. Interim support is seen Read More
- Continue reading: Daily analysis and trading strategies 8-30-10
EURUSD Trading strategy: small long at 1.2750, stop at 1.2680 (0.5% risk), objective at 1.2850 Euro’s minor recovery continues after testing support around 1.2660 yesterday. However, upside was capped at 1.2760. Upside is slightly favored at the time of writing but short-term bias remains bearish as long as 1.2900 is still “far” from current trading Read More
- Continue reading: Daily analysis and trading strategies 8-27-10
Quote of the day: Success isn’t permanent, and failure isn’t fatal. — Mike Ditka EURUSD Trading strategy: small long at 1.2730 on hourly close above 1.2720, stop at 1.2660 (0.5% risk), objective at 1.2850 The euro recovered after another dip towards 1.2600 from 1.2720 which still provides intra-day resistance, for the 4th day. Although short-term Read More
- Continue reading: Daily analysis and trading strategies 8-26-10
Quote of the day: What’s the difference between Investment Bankers and London Pigeons? The Pigeons are still capable of making deposits on new BMW’s — Rob, a trader from the U.K. EURUSD Trading strategy: small short at 1.2590, stop at 1.2660 (0.5% risk), objective at 1.2490 Not much is new under the sun since yesterday Read More
- Continue reading: Daily analysis and trading strategies 8-25-10
Quote of the day: The best minds are not in government. If any were, business would hire them away. — Ronald Reagan EURUSD Trading strategy: small short at 1.2730, stop at 1.2790(0.5% risk), objective at 1.2610 The euro fell for 4th day against the dollar, approaching the median retracement of last upward swing from 1.1875 Read More
- Continue reading: Daily analysis and trading strategies 8-24-10
Quote of the day: Patience and perseverance have a magical effect before which difficulties disappear and obstacles vanish. — John Quincy Adams EURUSD Trading strategy: small short at 1.2770, stop at 1.2840(0.5% risk), objective at 1.2650 The euro weakened across the board and breached below the bear flag formation against the dollar – printing a Read More
- Continue reading: Daily analysis and trading strategies 8-23-10
EURUSD Trading strategy: standing aside The euro failed once again to take out the 1.2900 barrier yesterday, so the range bound action continues between 1.2780/00 and 1.2900. As we can see in the chart below, we have a bear flag formation and its lower limit is again under pressure at the time of writing. Downside Read More
- Continue reading: Daily analysis and trading strategies 8-20-10
EURUSD Trading strategy: standing aside Another failed attempt to break above 1.2900 occurred yesterday although the euro rallied to as high as 1.2920 before weakening throughout the US trading session. The appreciation to 1.2920 was a result of following the Pound which rallied coming behind the BoE minutes. As I said yesterday – I’d prefer Read More
- Continue reading: Daily analysis and trading strategies 8-19-10
Quote of the day: Information is the currency of democracy. — Thomas Jefferson EURUSD Trading strategy: standing aside 1.2900 provided resistance once again yesterday and the euro failed to climb higher, despite several attempts. Intra-day sentiment is currently bearish although the pair trades around same levels as yesterday’s morning, but downside pressure seems higher. Unless Read More
- Continue reading: Daily analysis and trading strategies 8-18-10
EURUSD Trading strategy: small long at 1.2910 on break on hourly bar closed above 1.2900, stop at 1.2840(0.5% risk), objective at 1.3030 Although yesterday’s attempt to reach 1.2900 was limited by 1.2870, the euro maintains its bid tone hovering near 1.2850 ahead of today’s German ZEW Economic Sentiment which is the most notable event in Read More
- Continue reading: Daily analysis and trading strategies 8-17-10
Quote of the day: Earth provides enough to satisfy every man’s need, but not every man’s greed — Mahatma Gandhi EURUSD Trading strategy: small short at 1.2880, stop at 1.2960(0.5% risk), objective at 1.2730 Euro’s recovery on Friday was again limited by 1.2900 and the 3 weeks gains were cut in a single week as Read More
- Continue reading: Daily analysis and trading strategies 8-16-10
Quote of the day: Money will come when you are doing the right thing. — Mike Phillips EURUSD Trading strategy: small short at 1.3030, stop at 1.3090 (0.5% risk), objective at 1.2930 The euro found support at 1.2800 after the free fall from 1.3300 but the ongoing recovery is not convincing. Former support at 1.3000 Read More
- Continue reading: Daily analysis and trading strategies 8-13-10
EURUSD Trading strategy: small short at 1.3030, stop at 1.3090 (0.5% risk), objective at 1.2930 Euro’s decline accelerated after breaking below 1.3100 and 1.3000 yesterday, printing a session low at 1.2830 – which was 350 points down from the daily open. Dollar’s appreciation across the board comes after the Fed said that the U.S. economic Read More
- Continue reading: Daily analysis and trading strategies 8-12-10
Quote of the day: There are 10^11 stars in the galaxy. That used to be a huge number. But it’s only a hundred billion. It’s less than the national deficit! We used to call them astronomical numbers. Now we should call them economical numbers. — Richard Feynman EURUSD Trading strategy: small short at 1.3160, stop Read More
- Continue reading: Daily analysis and trading strategies 8-11-10
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