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
Wednesday 04-08-2009
EURUSD Trading strategy: small long at 1.2965, initial stop at 1.2920, objective at 1.3065. Adjust stop to breakeven on +30 pips (at 1.2995) if reached. The euro dropped below the 1.3200 mark and is currently approaching the key support at 1.3100 – formed by the 50% retracement of the 1.2455-1.3737 move. If it holds, a Read More
Monday 04-06-2009
EURUSD Trading strategy: stand aside The euro has tested bids at 1.3365 on Friday, after the NFP data release – reading in line with consensus expectations – but managed to recover, climbing above the 1.3500 mark. First resistance is formed at 1.3590 – 50% retracement of the 1.4720-1.2455 decline. Notable resistance is seen higher, formed Read More
Friday 04.03.2009
EURUSD Trading strategy: small long at 1.3385, initial stop at 1.3335, objective at 1.3515. Adjust stop to breakeven on +30 pips (at 1.3415) if reached. The euro rallied on yesterday to as high as 1.3515 as a result of the ECB’s surprising rate cut of 25-bp instead of the widely expected cut of 50-bp. The Read More
Thursday 04.02.2009
EURUSD Trading strategy: stand aside The euro is pushing higher this morning, trading around the 1.3300 mark. Above 1.3300, first resistance is seen at 1.3330/50 then a more notable barrier at 1.3400/15 – former support that may limit the upside for now on extended gains. Daily momentum is slightly bearish and a break above 1.3400 Read More
Wednesday 04.01.2009
EURUSD Trading strategy: small short at 1.3415, initial stop at 1.3455, objective at 1.3330. Adjust stop to breakeven on +30 pips (at 1.3385) if reached Resistance at 1.3330 could not be breached on yesterday and the euro is back below the 1.3200 mark, currently testing bids around yesterday’s opening price. Daily sentiment remains slightly bearish Read More
Tuesday 03.31.2009
EURUSD Trading strategy: small short at 1.3405, initial stop at 1.3445, objective at 1.3330. Adjust stop to breakeven on +30 pips (at 1.3375) if reached. Euro’s decline continued on yesterday and bids near key support at 1.3100 have been tested, before recovering to 1.3273, erasing yesterday’s losses of 170 points. Minor resistance is emerging at Read More
Monday 03.30.2009
EURUSD Trading strategy: small long at 1.3075, initial stop at 1.3035, objective at 1.3175. Adjust stop to breakeven on +30 pips (at 1.3105) if reached. Downside is under pressure today after the euro lost 330 points against the dollar on Friday, extending losses today to as low as 1.3180. Next important support is seen at Read More
Friday 03.27.2009
EURUSD Trading strategy: stand aside The Euro lacks direction and continues to consolidate below the 1.36 mark after another failed attempt to stabilize higher on yesterday. First intra-day support is seen at 1.3500/05 – 61.8% retracement of Wednesday’s trading range – confirmed on yesterday’s pullback from 1.3640 topside. Below 1.3500/05, other barriers are noticed at 1.3415/30 Read More
Thursday 03.26.2009
EURUSD Trading strategy: small long at 1.3620, initial stop at 1.3580, objective at 1.3720. Adjust stop to breakeven on +30 pips (at 1.3650) if reached. The support into the 1.3420 zone has proved to be stable and the Euro recovered on yesterday, surmounting the intra-day resistance on the 1.3600 mark to as high as 1.3650 which Read More
Wednesday 03.25.2009
EURUSD Trading strategy: small long at 1.3245, initial stop at 1.3205, objective at 1.3345. Adjust stop to breakeven on +30 pips (at 1.3275) if reached. The Euro continued to retrace on yesterday, testing bids into the 1.3430 zone, switching focus towards bearish objective at 1.3330. Minor support is formed into the 1.3415/30 zone backed by the Read More
Tuesday 03.24.2009
EURUSD Trading strategy: small short at 1.3885, initial stop at 1.3925, objective at 1.3785. Adjust stop to breakeven on +30 pips (at 1.3855) if reached. The Euro continues to consolidate below the 1.3740/50 resistance, testing bids on the downside to as low as 1.3485 on yesterday. The drop is over as the Euro recovered to 1.3670 Read More
Monday 03.23.2009
EURUSD Trading strategy: small short at 1.3850, initial stop at 1.3890, objective at 1.3750. Adjust stop to breakeven on +30 pips (at 1.3820) if reached. Upside is under renewed pressure as the Euro opened higher today, after pulling back to 1.3515 on Friday. First support level is seen at 1.3600 backed by Friday’s low at Read More
Friday 03.20.2009
EURUSD Trading strategy: small long at 1.3700, initial stop at 1.3660, objective at 1.3800. Adjust stop to breakeven on +30 pips (at 1.3730) if reached. Dollar’s weakness intensifies across the board and the Euro gained 320 points on yesterday, breaking above resistance at 1.3590 – median retracement level of the 1.4720-1.2455 move. Near term resistance is Read More
Thursday 03.19.2009
EURUSD Trading strategy: small long at 1.3260, initial stop at 1.3220, objective at 1.3360. Adjust stop to breakeven on +30 pips (at 1.3290) if reached. The Euro has reached the 1.35 zone earlier than expected, on yesterday’s 540 points rally. Key resistance formed by the median retracement of the large 1.4720-1.2455 move comes at 1.3590, Read More
Wednesday 03.18.2009
EURUSD Trading strategy: stand aside The euro maintains its bid tone against the dollar ahead of the Fed’s Interest Rate Decision later today, which is widely expected to hold the benchmark interest rate steady at 0.25%. Yesterday’s close above the 1.3 handle may stimulate further upside action, aiming towards first important resistance at 1.3070/90. Other Read More
Tuesday 03.17.2009
EURUSD Trading strategy: stand aside Holding steady against the greenback, the Euro seem ready to overcome the resistance formed into the 1.3080/90 region by February’s high. Above the said level, renewed gains will probably extend towards a minor top of January around 1.3330 and maybe to 1.3590 within the current month. Key medium term resistance Read More
Monday 03.16.2009
EURUSD Trading strategy: small short at 1.3100, initial stop at 1.3140, objective at 1.3010. Adjust stop to breakeven on +30 pips (at 1.3070) if reached. The Euro consolidates gains above 1.2850 since Thursday, trading near important resistance at 1.2990 at the time of this writing. The daily momentum is bullish and a potential break above Read More
Friday 03.13.2009
EURUSD Trading strategy: stand aside The Euro holds steady near the 1.3000 mark, keeping the upside under pressure. Important short-term resistance levels are formed at 1.2990/00 followed by 1.3090, highs of February. Above the said levels, the Euro may accelerate gains towards 1.3590, median resistance of last downleg from 1.4720 to 1.2455.The daily studies are Read More
Warning: All the information on this site is provided "as is" for INFORMATIONAL AND EDUCATIONAL PURPOSES ONLY, not intended for trading purposes or advice.
Bear in mind that you are the only one responsible for your own trades. If you follow anyone else expecting to replicate his results, then you are doing something wrong.
Forex Trading is speculative, involves significant risk of loss and is not suitable for everyone (Full Disclaimer) - (Terms of Use)
This work by innerfx.com is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.
Permissions beyond the scope of this license may be available at http://www.innerfx.com/terms-of-use.