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
Dollar’s weakness continues
Quote of the day: A bank is a place that will lend you money if you prove that you don’t need it. — Bob Hope EURUSD Trading strategy: long at 1.3330, stop at 1.3260(0.5% risk), 1st objective at 1.3380, 2nd objective at 1.3460 Dollar’s weakness continues as the euro hits a 5-month top at 1.3440 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
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 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 9-10-10
Quote of the day: Good judgment comes from experience and experience comes from bad judgment. — Fred Brooks Are you on Facebook? If so, you can join innerfx there EURUSD Trading strategy: short at 1.2660, stop at 1.2720(0.5% risk), 1st objective at 1.2610, 2nd objective at 1.2560 The upside barrier around 1.2770 was retested yesterday Read More
- Continue reading: Daily forex analysis and strategies 9-10-10
Daily forex analysis and strategies 9-9-10
Quote of the day: It has become appallingly obvious that our technology has exceeded our humanity. — Albert Einstein EURUSD Trading strategy: short at 1.2675 on hourly close below 1.2670, stop at 1.2735(0.5% risk), 1st objective at 1.2625, 2nd objective at 1.2550 Former support around 1.2770 was tested and held, as I was expecting in Read More
- Continue reading: Daily forex analysis and strategies 9-9-10
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 9-7-10
Quote of the day: Democracy is being allowed to vote for the candidate you dislike least. — Robert Byrne EURUSD Trading strategy: small short at 1.2850, stop at 1.2910(0.5% risk), 1st objective at 1.2800, 2nd objective at 1.2750 The euro changed direction, revisiting the downside near support at 1.2770 after an industry group said Germany’s Read More
- Continue reading: Daily analysis and trading strategies 9-7-10
Daily analysis and trading strategies 9-1-10
EURUSD Trading strategy: standing aside Range-bound trading continues as the upside was capped by 1.2740 yesterday but support around 1.2650 was also stable. Recent euro’s losses against the Swiss franc and the yen are contributing to its weakness against the dollar, too – and current EURCHF and EURJPY studies don’t look too good to those Read More
- Continue reading: Daily analysis and trading strategies 9-1-10
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 8-27-10
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
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 8-25-10
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
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 8-23-10
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
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 8-19-10
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
Daily analysis and trading strategies 8-17-10
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
Daily analysis and trading strategies 8-16-10
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
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 8-10-10
Quote of the day: Debts and lies are generally mixed together — Francois Rabelais EURUSD Trading strategy: standing aside The euro is having a break and pulls back from recent top as the dollar strengthened on concern that the global economic recovery is stalling boosted demand for safer assets, such as the Yen. Euro’s decline Read More
- Continue reading: Daily analysis and trading strategies 8-10-10
Daily analysis and trading strategies 8-9-10
EURUSD Trading strategy: small long at 1.3210, stop at 1.3140(0.5% risk), objective at 1.3350 The dollar is weaker across the board after the Nonfarm payrolls shed 131,000 jobs last month, compared to a consensus of 70k. Dollar’s weakness is likely to continue as economic data shows that the U.S. recovery is stalling and may need Read More
- Continue reading: Daily analysis and trading strategies 8-9-10
Daily analysis and trading strategies 8-2-10
Quote of the day: The only sure thing about luck is that it will change. — Wilson Mizner EURUSD Trading strategy: standing aside Friday’s pullback towards the 1.2970 support zone was short-lived – once again confirming current uptrend’s strength on a short-term basis. More range-bound action is likely while 1.3100 caps the upside and potential Read More
- Continue reading: Daily analysis and trading strategies 8-2-10
Daily analysis and trading strategies 7-29-10
EURUSD Trading strategy: small long at 1.3050 on hourly close above 1.3045, stop at 1.2980 (0.5% risk), 1st objective at 1.3100, 2nd objective at 1.3200 The euro continues to consolidate into a narrow range around the 1.300 level, therefore the upside remains favored for now but a bullish close above 1.3050 has yet to be Read More
- Continue reading: Daily analysis and trading strategies 7-29-10
Daily analysis and trading strategies 7-28-10
EURUSD Trading strategy: small long at 1.3050 on hourly close above 1.3045, stop at 1.2980 (0.5% risk), 1st objective at 1.3100, 2nd objective at 1.3200 The euro continues to orbit around 1.3000 and yesterday’s dip to 1.2950 was short-lived, therefore the upside remains in focus for now as most signs are pointing North. Potential pullbacks Read More
- Continue reading: Daily analysis and trading strategies 7-28-10
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