Quote of the day: A lie can travel halfway around the world while the truth is putting on its shoes. – Mark Twain EURUSD Trading strategy: standing aside Euro’s collapse continue amid fears that more countries in Europe will join Ireland and Greece. The tension between North and South Korea is also fueling current decline Read More
1.3300 breach imminent?
Quote of the day: People rarely succeed unless they have fun in what they are doing. – Andrew Carnegie EURUSD Trading strategy: standing aside EUR/USD is little changes since yesterday morning as the shy attempt to recover was capped by 1.3385/00. Pressure is again high on the 1.3300 support as the pair feels heavy and Read More
Euro gains on Irish bailout
Quote of the day: The best way to keep loyalty in a man’s heart is to keep money in his purse. – Irish proverb EURUSD Trading strategy: looking to buy at 1.3700, stop at 1.3630, 1st objective at 1.3750, 2nd objective at 1.3850 The euro rose across the board after Ireland, IMF and the EU Read More
Euro recovers some losses; 1.3750 resistance in focus
Quote of the day: He who is not courageous enough to take risks will accomplish nothing in life. – Muhammad Ali EURUSD Trading strategy: standing aside The euro holds above 1.3600 and is currently facing intraday resistance around 1.3650, after it climbed yesterday on Ireland optimism. Next resistance region comes around 1.3750 which served both Read More
- Continue reading: Euro recovers some losses; 1.3750 resistance in focus
Euro recovers some ground but remains vulnerable
Quote of the day: Folks who don’t know why America is the Land of Promise should be here during an election campaign. – Milton Berle EURUSD Trading strategy: standing aside Tested yesterday – 1.3570 provided intraday resistance but was breached during today’s Asian session, following Gold which bounced off support region around 1330, reaching session Read More
- Continue reading: Euro recovers some ground but remains vulnerable
Euro drops further amid Irish bailout talk
Quote of the day: I’ve abandoned free market principles to save the free market system. – George W. Bush EURUSD Trading strategy: looking to sell at 1.3570, stop at 1.3640, 1st objective at 1.3520, 2nd objective at 1.3440 1.3570 was breached yesterday as the euro is once again in free-fall mode, bringing the 50% retramcement Read More
- Continue reading: Euro drops further amid Irish bailout talk
Euro down as debt worries resurface
Quote of the day: Things do not change; we change. – Henry David EURUSD Trading strategy: standing aside The euro trades down around last week’s open price as eurozone debt worries resurface. Dollar’s short covering post QE2 announcement is also helping the buck to gain some ground – recovering 360 points in the last two Read More
Risk on
Quote of the day: The best way to appreciate your job is to imagine yourself without one. – Oscar Wilde EURUSD Trading strategy: long at 1.4160 on potential pullback, stop at 1.4090 (0.5% risk), 1st objective at 1.4210, 2nd objective at 1.4260 Another resistance point has been breached yesterday as the euro rallied past 1.4150/60 Read More
Dollar continues to slide on QE2 announcement
Quote of the day: The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some Read More
- Continue reading: Dollar continues to slide on QE2 announcement
Dollar continues to recover
Quote of the day: We have the best government that money can buy. – Mark Twain EURUSD Trading strategy: short at 1.3870, stop at 1.3920, 1st objective at 1.3820, 2nd objective at 1.3750 Last attempt to breach 1.400 was indeed corrective, as it looked yesterday, before resuming the euro’s sell-off. Well, I guess that after Read More
Euro’s recovery not convincing
Quote of the day: In truth, the gold standard is already a barbarous relic. – John Maynard Keynes EURUSD Trading strategy: standing aside Although it recovered some lost ground yesterday, the euro found resistance at 1.400 and was sold-off, the scenario repeating in today’s Asian session. Speaking of intra-day conditions – main question now is Read More
Euro conserving gains near recent top
Quote of the day: The trees that are slow to grow bear the best fruit. – Moliere EURUSD Trading strategy: long at 1.3680, stop at 1.3620 (0.5% risk), 1st objective at 1.3730, 2nd objective at 1.3800. Other plan would be to look for buying opportunities on pullback to 1.3550, stop at 1.3480 (0.5% risk), 1st Read More
Correction likely?
Quote of the day: To avoid criticism do nothing, say nothing, be nothing. — Elbert Hubbard EURUSD Trading strategy: long at 1.3480, stop at 1.3410(0.5% risk), 1st objective at 1.3530, 2nd objective at 1.3640 Yesterday’s bottom around 1.3570 is under pressure at time of writing as the euro is pulling back from 5-month high reached Read More
Trading setups to consider next week
Quote of the day: As long as people believe in absurdities they will continue to commit atrocities. — Voltaire EURUSD The euro had a good run against the dollar in the last 2 weeks, gaining 450 pips per week – being up 6.4% this month. Or I rather say “the dollar is down 6.4% against Read More
Modest correction underway
Quote of the day: Fall seven times, stand up eight. — Japanese Proverb EURUSD Trading strategy: long at 1.3370, stop at 1.3310 (0.5% risk), 1st objective at 1.3420, 2nd objective at 1.3500 The euro is giving back some gains and reached a session low at 1.3285 in Asian session – downside being limited by former Read More
Euro rallies to 1.330 and Gold approaches 1300
Quote of the day: Continuous effort, not strength or intelligence, is the key to unlocking our potential. — Winston Churchill EURUSD Trading strategy: long at 1.3200, stop at 1.3170(0.5% risk), 1st objective at 1.3250, 2nd objective at 1.3330 The greenback fell against its major counterparts after Fed said yesterday that it “will provide additional accommodation Read More
- Continue reading: Euro rallies to 1.330 and Gold approaches 1300
Dollar under pressure ahead of FOMC
Quote of the day: I find that the harder I work, the more luck I seem to have. — Thomas Jefferson EURUSD Trading strategy: long at 1.3120, stop at 1.3060 (0.5% risk), 1st objective at 1.3170, 2nd objective at 1.3250 The dollar is weaker ahead of FOMC Interest Rate decision on concern the Fed will Read More
Some setups to consider next week
EURUSD The euro was one of the main pairs to benefit from dollar’s weakness across the board lately – so it is currently up 400 pips from the bottom reached two weeks ago – around 1.2645. Recent break above 1.2900 is suggesting further upside action as the short-term studies became bullish, hence the whole decline Read More
Dollar extending losses
Quote of the day: You don’t get anything clean without getting something else dirty. — Cecil Baxter EURUSD Trading strategy: standing aside Another week is almost over and the euro is up more than 3% against the U.S. dollar and it is currently flirting with 1.3150. The break above 1.2900 few days ago suggested further Read More
Daily forex analysis: the consolidation continues
Quote of the day: The pure and simple truth is rarely pure and never simple. — Oscar Wilde EURUSD Trading strategy: long at 1.2930, stop at 1.2860 (0.5% risk), 1st objective at 1.2970, 2nd objective at 1.3080 The euro is consolidating into a tight range around 1.2990 – upside being capped by 1.3030. Upside is Read More
- Continue reading: Daily forex analysis: the consolidation continues
Daily forex analysis: EURUSD’s short-term bias turning bullish
Quote of the day: Enjoy your achievements as well as your plans. – Max Ehrmann EURUSD Trading strategy: long at 1.2940, stop at 1.2870 (0.5% risk), 1st objective at 1.32990, 2nd objective at 1.3080 The euro extended its gains and breached above 1.2900 — thus confirming uptrend’s continuation. Now that the short-term studies are bullish Read More
- Continue reading: Daily forex analysis: EURUSD’s short-term bias turning bullish
Daily analysis: Euro ready to break above 1.29
Quote of the day: In the beginner’s mind there are many possibilities, but in the expert’s mind there are few — Shunryu Suzuki EURUSD Trading strategy: long at 1.2905 on hourly bar closed above 1.2900, stop at 1.2830(0.5% risk), 1st objective at 1.2955, 2nd objective at 1.3005 The 1.2900 interim barrier comes under pressure as Read More
- Continue reading: Daily analysis: Euro ready to break above 1.29
Daily analysis and trading strategies 9-3-10
EURUSD Trading strategy: small long at 1.2780, stop at 1.2720(0.5% risk), 1st objective at 1.2830, 2nd objective at 1.2900 The euro is relatively quiet since yesterday, trading in a narrow range of 70 points, but holding gains above 1.2800. Upside is slightly favored and a pullback may provide a buying opportunity if former resistance at Read More
- Continue reading: Daily analysis and trading strategies 9-3-10
Daily analysis and trading strategies 9-2-10
Quote of the day: A deception that elevates us is dearer than a host of low truths. — Marina Tsvetaeva EURUSD Trading strategy: small long at 1.2740, stop at 1.2680 (0.5% risk), objective at 1.2900 The euro recovered some losses, breaking above the 1.2750 resistance region, following the risk pairs which rallied yesterday. Euro’s recovery Read More
- Continue reading: Daily analysis and trading strategies 9-2-10
Daily analysis and trading strategies 8-31-10
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
Daily analysis and trading strategies 8-30-10
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
Daily analysis and trading strategies 8-26-10
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
Daily analysis and trading strategies 8-24-10
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
Daily analysis and trading strategies 8-20-10
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
Daily analysis and trading strategies 8-13-10
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
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