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
Euro consolidating above support at 1.3040
Quote of the day: If a man does his best, what else is there? — General George S. Patton EURUSD Trading strategy: standing aside The euro pulled back from recent top at 1.3160 on Friday but it found support around former resistance at 1.3040. Although it maintains gains, we should keep an eye on the Read More
- Continue reading: Euro consolidating above support at 1.3040
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 and strategies 9-13-10
Quote of the day: There is no worse lie than a truth misunderstood by those who hear it. — William James EURUSD Trading strategy: long at 1.2750, stop at 1.2680 (0.5% risk), 1st objective at 1.2800, 2nd objective at 1.2900 Some more upside action is possible now that the consolidation between 1.2660 and 1.2760 is Read More
- Continue reading: Daily forex analysis and strategies 9-13-10
Daily forex analysis and strategies 9-8-10
Quote of the day: Leadership is a privilege to better the lives of others. It is not an opportunity to satisfy personal greed. — Mwai Kibaki EURUSD Trading strategy: short at 1.2780, stop at 1.2850(0.5% risk), 1st objective at 1.2730, 2nd objective at 1.2650 The euro is approaching last week’s bottom as intra-day support failed Read More
- Continue reading: Daily forex analysis and strategies 9-8-10
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 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 8-18-10
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
Daily analysis and trading strategies 8-12-10
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
Daily analysis and trading strategies 8-11-10
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
Daily analysis and trading strategies 7-30-10
EURUSD Trading strategy: standing aside The euro holds steady above former intra-day resistance at 1.3050 after reaching a fresh multi-week high at 1.3105 yesterday. Current recovery is likely to continue and next upside objective is seen at 1.3250/90. Today’s most important event in the economic calendar is the US GDP data release at 13:30 GMT. Read More
- Continue reading: Daily analysis and trading strategies 7-30-10
Daily analysis and trading strategies 7-23-10
EURUSD Trading strategy: standing aside The euro switched course after flirting with 1.2750 and was back around Friday’s closing level at 1.2915 30 minutes ago. The break above interim resistance region between 1.2860 and 1.2900 confirms that uptrend resumes but we have to keep an eye on the 1.2850/60 region as it is under pressure Read More
- Continue reading: Daily analysis and trading strategies 7-23-10
Daily analysis and trading strategies 7-21-10
Quote of the day: If you want to have a better performance than the crowd, you must do things differently from the crowd. — Sir John Templeton EURUSD Trading strategy: standing aside The euro pulled back once again after testing 1.3 but the upside remains favored, although current slide may extend lower towards 1.2770 where Read More
- Continue reading: Daily analysis and trading strategies 7-21-10
Daily analysis and trading strategies 7-2-10
Quote of the day: No man can think clearly when his fists are clenched. — George Jean Nathan EURUSD Trading strategy: small long at 1.2400, stop at 1.2330 (0.5% risk), 1st objective at 1.2450, 2nd objective at 1.2500 Yesterday’s large recovery confirmed that the move to 1.2150 was corrective and short-term sentiment remains bullish – Read More
- Continue reading: Daily analysis and trading strategies 7-2-10
Daily analysis and trading strategies 6-23-10
EURUSD Trading strategy: small short at 1.2235, stop at 1.2305 (0.5% risk), 1st objective at 1.2155, 2nd objective at 1.2035 Intra-day support has been found around 1.2250, protecting the more notable downside barrier at 1.2150 which served as stable support for 3 weeks before breaking lower to 1.1875. Short-term sentiment will remain slightly positive as Read More
- Continue reading: Daily analysis and trading strategies 6-23-10
Daily analysis and trading strategies 6-17-10
Quote of the day: Time is what we want most, but what we use worst. — William Penn EURUSD Trading strategy: standing aside The euro is trading lower against the U.S. dollar since yesterday morning – even though it managed to recover after yesterday’s dive to as low as 1.2255 where it found support formed Read More
- Continue reading: Daily analysis and trading strategies 6-17-10
Daily analysis and trading strategies 6-16-10
Quote of the day: The place where optimism flourishes most is the lunatic asylum. — Havelock Ellis EURUSD Trading strategy: standing aside The euro is well bid, holding gains near the 1.2365 resistance formed by the 61.8% retracement of 1.2670-1.1875. Short-term sentiment remains bullish and more upside action seems likely and support could limit losses Read More
- Continue reading: Daily analysis and trading strategies 6-16-10
Daily analysis and trading strategies 6-15-10
EURUSD Trading strategy: short at 1.2330, stop at 1.2390 (1% risk), objective at 1.2230 The euro pulled back from $1.2300 but maintains a bid tone – so far being supported into the 1.2200 region – backed by 1.2150 and 1.2100, lower. Short-term sentiment remains slightly bullish while trading above 1.2150 but extended gains above yesterday’s Read More
- Continue reading: Daily analysis and trading strategies 6-15-10
EURUSD, GBPUSD, AUDUSD, EURGBP and Gold outlook 6/14/10
EURUSD – 1.2287 The euro is rebounding as no news is good news in Europe – as the risk meters aren’t flashing red the way they were earlier this month. Therefore, current euro recovery is not driven by good news but rather by the absence of bad news, so caution is advised for those buying Read More
- Continue reading: EURUSD, GBPUSD, AUDUSD, EURGBP and Gold outlook 6/14/10
Daily analysis and trading strategies 6-10-10
Quote of the day: Bad politicians are sent to Washington by good people who don’t vote. — William E. Simon EURUSD Trading strategy: standing aside Yesterday’s top side is again under pressure as the euro recovered in overnight trading, following the NZD and AUD which rallied as New Zealand raised interest rate and Australia’s jobless Read More
- Continue reading: Daily analysis and trading strategies 6-10-10
Daily analysis and trading strategies 6-3-10
Quote of the day: Every day I get up and look through the Forbes list of the richest people in America. If I’m not there, I go to work. — Robert Orben EURUSD Trading strategy: small long at 1.2270, stop at 1.2210 (0.5% risk), objective at 1.2420 The euro recovered some ground and breached the Read More
- Continue reading: Daily analysis and trading strategies 6-3-10
Daily analysis and trading strategies 5-28-10
EURUSD Trading strategy: small short at 1.2450, stop at 1.2510(0.5% risk), objective at 1.2350 Yesterday’s recovery was capped at 1.2400 but upside is favored for now, an uptrend being formed on the hourly chart. A trend line resistance is currently seen into the 1.2370 region, coming from 1.3095 of May 10, extended through last week’s Read More
- Continue reading: Daily analysis and trading strategies 5-28-10
Daily analysis and trading strategies 5-26-10
Quote of the day: Some people use one half their ingenuity to get into debt, and the other half to avoid paying it. — George Prentice EURUSD Trading strategy: small short at 1.2470, stop at 1.2520 (0.5% risk), objective at 1.2370. The euro fell to as low as 1.2177, erasing most of last week’s gains. Read More
- Continue reading: Daily analysis and trading strategies 5-26-10
Daily analysis and trading strategies 5-10-10
EURUSD Trading strategy: standing aside The euro opened higher, recovering some losses as European policy makers put together a loan package worth nearly $1 trillion to support euro’s stability. The euro trades currently near 1.300, almost 500 points above Thursday’s low and 360 points below this month’s open at 1.3360. The recovery may continue but Read More
- Continue reading: Daily analysis and trading strategies 5-10-10
Daily analysis and trading strategies 5-4-10
EURUSD Trading strategy: standing aside The euro lost more than 1% against the dollar yesterday and the opening gap at 1.3360 was a good opportunity for sellers to initiate their positions again. 1.3200/10 provides intra-day resistance after holding for few hours, as support. In case of a bounce 1.3260/80 might be the first region where Read More
- Continue reading: Daily analysis and trading strategies 5-4-10
Daily analysis and trading strategies 2-11-10
Quote of the day: The only summit meeting that can succeed is the one that does not take place. — Barry M. Goldwater EURUSD Trading strategy: stand aside Yesterday’s trading sessions have been mixed – euro falling after a failed attempt to breach above 1.3800, but found support on the 61.8% of the recently developed Read More
- Continue reading: Daily analysis and trading strategies 2-11-10
Daily analysis and trading strategies 01-29-10
Quote of the day: It is better to fail in originality than to succeed in imitation. — Herman Melville EURUSD Trading strategy: small short at 1.4050, stop at 1.4110 (0.5% risk), 1st objective at 1.4000, 2nd objective at 1.3950 The euro remains under pressure since weak rallies are finding resistance and it couldn’t hold pullback Read More
- Continue reading: Daily analysis and trading strategies 01-29-10
NFP printing -85k, dollar bearish sentiment increased
Today’s NFP data release printed -85k – a disappointing figure compared to the wide expectations of a positive (or neutral) one. Although it’s been testing the lower territory during the European trading session, the euro recovered most of yesterday’s losses which were likely influenced by a priced-in positive NFP figure. On a short-term basis, we’re Read More
- Continue reading: NFP printing -85k, dollar bearish sentiment increased
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