Quote of the day: The modern banking system manufactures money out of nothing. — Josiah Stamp EURUSD Trading strategy: small long at 1.2330, stop at 1.2260 (0.5% risk), 1st objective at 1.2380, 2nd objective at 1.2450 The euro found support around 1.2250 again and rallied to as high as 1.2415, breaking the 61.8% retracement level Read More
- Continue reading: Daily analysis and trading strategies 6-18-10
Quote of the day: You cannot simultaneously prevent and prepare for war. — Albert Einstein EURUSD Trading strategy: standing aside The dollar recovered Friday’s losses against the euro after South Korea said it will halt trade with its northern neighbor and seek United Nations Security Council action over the sinking of a warship last month. Read More
- Continue reading: Daily analysis and trading strategies 5-24-10
Quote of the day: It takes as much imagination to create debt as to create income. — Leonard Orr EURUSD Trading strategy: looking to sell at 1.2350, stop at 1.2420 (1% risk), objective at 1.2200 After a second round of testing the intra-day resistance region between 1.2415-1.2450, the euro failed to hold above support at Read More
- Continue reading: Daily analysis and trading strategies 5-19-10
Quote of the day: If we did go into a recession, something that’s always possible for the U.S. or Europe, we could lower interest rates and expand the money supply without worrying about the price of gold. — Jeffrey Sachs EURUSD Trading strategy: looking to sell at 1.2500, stop at 1.2570 (1% risk), objective at Read More
- Continue reading: Daily analysis and trading strategies 5-18-10
Quote of the day: Debt is the fatal disease of republics, the first thing and the mightiest to undermine governments and corrupt the people — Wendell Phillips EURUSD Trading strategy: standing aside The euro trades around levels of 2006 as the decline continues on concern European measures to reduce fiscal deficits will undermine the Euro-zone’s Read More
- Continue reading: Daily analysis and trading strategies 5-17-10
EURUSD Trading strategy: short around 1.2510 on hourly close below 1.2515, stop at 1.2570 (1% risk), objective at 1.2410 Risk still lies to the downside as the euro continues its bearish trajectory, retesting last week’s bottom at 1.2520. The said support holds for now and a correction might be underway, but playing from short side Read More
- Continue reading: Daily analysis and trading strategies 5-14-10
Quote of the day: Every wave, regardless of how high and forceful it crests, must eventually collapse within itself. — Stefan Zweig EURUSD Trading strategy: standing aside Another day, another leg down – the euro reached a fresh 15-month low at 1.2763 at time of writing, bringing the long-term support trend line from 1.1640 in Read More
- Continue reading: Daily analysis and trading strategies 5-6-10
Quote of the day: The only certain thing about the future is that it will surprise even those who have seen furthest into it. — Eric Hobsbawm EURUSD Trading strategy: standing aside The euro flirts with the recent top side at $1.38, reaching some fresh highs, as the dollar was weaker across the board yesterday, Read More
- Continue reading: Daily analysis and trading strategies 3-17-10
Quote of the day: It is impossible for a man to learn what he thinks he already knows. — Epictetus EURUSD Trading strategy: holding yesterday’s long @1.3655; will close at breakeven if downtrend resumes 1.3700 provides intra-day resistance on current recovery from 1.3640 – 61.8% of last week’s up leg, intra-day sentiment being slightly bullish Read More
- Continue reading: Daily analysis and trading strategies 3-16-10
EURUSD Currently sitting on the former resistance trend line coming from 1.3840 of February 9, the euro shows some uptrend perspective on a short term basis, but still being under selling pressure. Last week’s recovery along with the recent failed attempts on breaking lower below the 1.3450-1.3500 region suggest that a bottom might be in Read More
- Continue reading: EURUSD, USDJPY and NZDUSD short term outlook 3-15-10
Quote of the day: Failure is the condiment that gives success its flavor — Truman Capote EURUSD Trading strategy: small long at 1.3675, stop at 1.3615 (0.5% risk), objective at 1.3785 A break above 1.3680/90 – the trend line resistance extended from 1.3840 – shows up. Some resistance layers are seen above current trading zone Read More
- Continue reading: Daily analysis and trading strategies 3-12-10
EURUSD Trading strategy: waiting for potential break above 1.3700 to consider a long position The euro is approaching the trend line resistance extended from 1.3840, now around 1.3690. Yesterday’s gains were limited ahead of the said resistance level but the euro is conserving recent gains above 1.3600 so a new test is likely. To the Read More
- Continue reading: Daily analysis and trading strategies 3-11-10
Quote of the day: Insanity is doing the same thing over and over again and expecting a different result. — Albert Einstein EURUSD Trading strategy: waiting for a break above 1.3700 to consider a long position Support on the 61.8% of 1.3435-1.3735 at 1.3550 remains intact after the 2nd test but the euro’s recovery is Read More
- Continue reading: Daily analysis and trading strategies 3-10-10
Quote of the day: Good ideas are not adopted automatically. They must be driven into practice with courageous patience. — Hyman Rickover EURUSD The downward trend line coming from 1.3840, now around 1.3700 – provided an intra-day reversal point again, limiting gains on last euro’s attempt to climb higher. Support on the 1.3600 mark has Read More
- Continue reading: Daily analysis and trading strategies 3-9-10
Quote of the day: We must believe in luck. For how else can we explain the success of those we don’t like? — Jean Cocteau EURUSD Another week passed and the euro remains into the 1.3450-1.3730 range, upside being capped around the falling trend line coming from 1.3840. However, as I wrote in my last Read More
- Continue reading: Daily analysis and trading strategies 3-8-10
EURUSD Trading strategy: stand aside Downside comes under renewed pressure as support around 1.3650 formed by the descending trend line coming from 1.3840 along with last week’s top side failed to hold. As the pair continues to bounce off support zone around 1.3450 but fall back from resistance region around 1.3700 too in a ping-pong Read More
- Continue reading: Daily analysis and trading strategies 3-5-10
EURUSD Trading stratetgy: looking to sell at 1.3795, stop at 1.3855(1% risk), objective at 1.3675. Yesterday’s close above last week’s top and above the falling trend line coming from 1.3840 was an upside confirmation and support may be found now into the 1.3625/50 region. There are several important events today such as the ECB Interest Read More
- Continue reading: Daily analysis and trading strategies 3-4-10
Quote of the day: Some rise by sin, and some by virtue fall. — William Shakespeare EURUSD Trading strategy: stand aside Lower region of 1.3440-1.3500 is again under pressure as the euro couldn’t hold gains above the 1.36 mark, being hit by cable’s weakness. Resistance formed by the trend line joining recent weekly highs, coming Read More
- Continue reading: Daily analysis and trading strategies 3-2-10
Quote of the day: Never confuse motion with action. — Benjamin Franklin EURUSD Trading strategy: stand aside Despite recent selling pressure ahead of $1.37 – upside seems slightly favored and last recoveries from 1.3450 are suggesting that a temporary bottom has been formed, initiating a short-term trend reversal. A proper confirmation would occur if the Read More
- Continue reading: Daily analysis and trading strategies 03-01-10
EURUSD Trading strategy: stand aside Yesterday’s recovery continued through today’s Asian session and 1.3600 is under pressure at the time of writing this article. My yesterday’s small short at 1.3560 was triggered and is still in play. Short-term sentiment remains unchanged as there’s enough room to the upside up to 1.3850/60, where a sustained break would Read More
- Continue reading: Daily analysis and trading strategies 2-26-10
Quote of the day: A great truth is a truth whose opposite is also a truth. — Thomas Mann EURUSD Trading strategy: small short at 1.3655, stop at 1.3695(0.5% risk), objective at 1.3575 Yesterday’s rally went out of steam ahead of 1.3700 where resistance is formed by the downward trend line coming from 1.4025 (February Read More
- Continue reading: Daily analysis and trading strategies 2-24-10
Quote of the day: He that can have patience can have what he will. — Benjamin Franklin EURUSD Trading strategy: stand aside Still trading in a narrow range but holding up above the 1.3600 mark, below yesterday’s top at 1.3655 – 61.8% of last down leg from 1.3790 to 1.3445. Break above the intra-day resistance Read More
- Continue reading: Daily analysis and trading strategies 2-23-10
Quote of the day: What we anticipate seldom occurs; what we least expected generally happens — Benjamin Disraeli EURUSD Trading strategy: long at 1.3565, stop at 1.3505(1% risk), 1st objective at 1.3625, 2nd objective at 1.3700 Last week’s losses against the U.S. dollar have been lower comparing to the weeks of January and extended corrections Read More
- Continue reading: Daily analysis and trading strategies 2-22-10
Quote of the day: Common sense ain’t common. — Will Rogers EURUSD Trading strategy: stand aside The euro comes under high pressure once again against the dollar, eroding the recent bottom into the 1.3530/50 region as the Fed chose to bump up the discount lending rate by one-quarter point to 0.75 percent. Yesterday’s initial gains Read More
- Continue reading: Daily analysis and trading strategies 2-19-10
Quote of the day: From error to error, one discovers a new error. — Trader friend from Singapore (in reply to Nietzsche’s “From error to error, one discovers the entire truth” quote, but more trading related) EURUSD Trading strategy: stand aside The euro declined back into the $1.35 region, giving back Tuesday’s gains so the Read More
- Continue reading: Daily analysis and trading strategies 2-18-10
Quote of the day: The world is wrong side up. It needs to be turned upside down in order to be right side up. — Billy Sunday EURUSD Trading strategy: long at 1.3690, stop at 1.3630(1% risk), 1st objective at 1.3750, 2nd objective at 1.3810 The euro performed well yesterday, rallying out of the downtrend Read More
- Continue reading: Daily analysis and trading strategies 2-17-10
Quote of the day: Time is what we want most, but what we use worst. — William Penn EURUSD Trading strategy: stand aside Yesterday’s trading has been quiet due to the President’s Day holiday in the U.S. as well as waiting for any decision about Greece. The EU states have given Greece one month to Read More
- Continue reading: Daily analysis and trading strategies 2-16-10
Quote of the day: A second reason why science cannot replace judgement is the behavior of financial markets. – Martin Feldstein EURUSD Trading strategy: small short at 1.3770, stop at 1.3820(0.5% risk), objective at 1.3710 The euro missed its chance to breach above the $1.38 handle and collapsed, re-testing the 1.3585/00 support region. Although it Read More
- Continue reading: Daily analysis and trading strategies 2-12-10
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
Quote of the day: A rumor without a leg to stand on will get around some other way. – John Tudor EURUSD Trading strategy: holding yesterday’s short at 1.3825 with stop at breakeven, objective at 1.3725. The euro recovered up to 1.3840 session’s high yesterday due to news of Eurozone deciding to aid Greece. The Read More
- Continue reading: Daily analysis and trading strategies 2-10-10
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