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
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
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
EURUSD Trading strategy: short at 1.3000, stop at 1.3070(1% risk), objective at 1.2860 Bulls’ optimism fades away as the euro could not sustain gains into the 1.3 region yesterday and dropped to Friday’s levels, filling the opening gap. 1.2700 provides a minor support now that earlier established support around 1.2740 formed by the 61.8% of Read More
- Continue reading: Daily analysis and trading strategies 5-11-10
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: 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: long at 1.4765, initial stop at 1.4715, objective at 1.4850. Adjust stop to breakeven on +30 pips (at 1.4795) if reached. Stronger than expected U.S. GDP lifts the euro to session highs against the dollar. The euro is currently pushing on the interim resistance around 1.4800 and hourly studies are positive, favoring Read More
[poll id="3"] EURUSD Trading strategy: long at 1.4850 on break of 1.4845/50 (hourly bar close above 1.4845), initial stop at 1.4790, objective at 1.4940. Adjust stop to breakeven on +30 pips (at 1.4880) if reached. Euro’s sell-off continued on yesterday as a result of equities pulling back from recent top sides. Support has been found Read More
- Continue reading: Daily analysis and trading strategies 10-28-09
Please vote in the following poll regarding the upcoming trading webinar. If you would like to participate on a different date/time, let me know. [poll id="3"] EURUSD Trading strategy: stand aside Yesterday’s losses in equities caused the euro’s decline into the key support zone into the 1.4820/50 region. Former resistance around 1.4830 which is the Read More
- Continue reading: Daily analysis and trading strategies 10-27-09
EURUSD Trading strategy: long at 1.5050 on break of 1.5045 (hourly close above 1.5045), initial stop at 1.4990, objective at 1.5130. Adjust stop to breakeven on +30 pips (at 1.5080) if reached Resistance into the 1.5045/50 region is intact and couldn’t be broken yet although it’s been tested several times. Upside remains favored as long Read More
- Continue reading: Daily analysis and trading strategies 10-26-09
EURUSD Trading strategy: long at 1.5050 on break of 1.5045 (hourly close above 1.5045), initial stop at 1.4990, objective at 1.5130. Adjust stop to breakeven on +30 pips (at 1.5080) if reached The euro remains bid and upside pressure is quite high as the pair has reached a fresh high at 1.5060. Yesterday’s recovery in Read More
- Continue reading: Daily analysis and trading strategies 10-23-09
EURUSD Trading strategy: long at 1.4930, initial stop at 1.4870, objective at 1.5010. Adjust stop to breakeven on +30 pips (at 1.4960) if reached Yesterday’s rally to 1.5045 opens the 1.5 territory and current pullback seem corrective, most likely caused by the session’s end losses in the equity markets. If the current pullback continues, intra-day Read More
- Continue reading: Daily analysis and trading strategies 10-22-09
EURUSD Trading strategy: short at 1.5020, initial stop at 1.5070, objective at 1.4920. Adjust stop to breakeven on +30 pips (at 1.4990) if reached The support zone around 1.4840 has provided a stable reversal point so far and the upward channel formed on the 4-hrs chart, as seen below, is intact – the lower band Read More
- Continue reading: Daily analysis and trading strategies 10-19-09
EURUSD Trading strategy: stand aside Intra-day sentiment is slightly bearish after the 2nd failed attempt to reach 1.5000. Yesterday’s relatively fast recovery from 1.4840, which is also the 61.8% retracement ratio of 1.4760-1.4965, suggests that uptrend is very strong and pullbacks are grabbing bids from below 1.4900, for a potential break out above 1.5000 on Read More
- Continue reading: Daily analysis and trading strategies 10-16-09
EURUSD Trading strategy: short at 1.5010, initial stop at 1.5065, objective at 1.4910. Adjust stop to breakeven on +30 pips (at 1.4980) if reached The rise continued and the euro currently trades into a fresh multi-month high territory – near the psychological barrier 1.5, also right on the upper band of the upward trend channel Read More
- Continue reading: Daily analysis and trading strategies 10-15-09
EURUSD Trading strategy: long at 1.4805 on break of 1.4800 (hourly bar/candle close above 1.4800), initial stop at 1.4745, objective at 1.4895. Friday’s losses have been recovered on yesterday and the upside is under pressure once again, first intra-day barrier being formed by the 1.4800 handle. Today’s ZEW Economic Sentiment report released in Germany may Read More
- Continue reading: Daily analysis and trading strategies 10-13-09
EURUSD Trading strategy: long at 1.4670, initial stop at 1.4620, objective at 1.4750. Adjust stop to breakeven on +30 pips (at 1.4700) if reached The euro recovered on yesterday and continued to climb higher during today’s Asian trading session. Upside remains favored and a daily close above 1.4700 would confirm the end of the corrective Read More
- Continue reading: Daily analysis and trading strategies 10-06-09
EURUSD Trading strategy: stand aside A fresh ytd high has been reached on yesterday at 1.4765 and the euro holds steady above the 1.4700 handle, being well supported by the rising trend line seen on the 4-hrs chart attached below. While above the said support, intra-day sentiment will remain positive, favoring further upside action towards Read More
- Continue reading: Daily analysis and trading strategies 09-18-09
EURUSD Trading strategy: short at 1.4845, initial stop at 1.4905, objective 1.4760. Adjust stop to breakeven on +30 pips (at 1.4815) if reached Support has been found at 1.4650 on yesterday’s minor pullback and upside is under renewed pressure, the euro trading around 1.4730 while writing this report. Uptrend is very strong and the daily Read More
- Continue reading: Daily analysis and trading strategies 09-17-09
EURUSD Trading strategy: stand aside The euro maintains its bid tone against the dollar, orbiting around the recent multi-month high reached on yesterday at 1.4685. First resistance is emerging at 1.4720 – the top of December 2008, and a break above that level will open 1.5. Both short-term and intra-day studies are positive and the Read More
- Continue reading: Daily analysis and trading strategies 09-16-09
EURUSD Trading strategy: stand aside Yesterday’s recovery from 1.4515 renews upside pressure as the euro has reached a fresh ytd high at 1.4650. Although I am bullish on EUR, I believe that current uptrend is due for correction. However, yesterday’s recovery confirms how strong current uptrend is therefore each minor pullback could be a fresh Read More
- Continue reading: Daily analysis and trading strategies 09-15-09
EURUSD Trading strategy: stand aside The euro holds gains against the dollar not far below the 1.4600 handle, the new YTD high which has been reached on yesterday. Upside remains favored and potential pullbacks should face support into the 1.4500/30 region then lower, at 1.4430/50 where a more notable support is formed. On the upside, Read More
- Continue reading: Daily analysis and trading strategies 09-10-09
EURUSD Trading strategy: stand aside Downside is under pressure after the NFP release which came slightly better than expected – at -216k vs consensus of -220k. Price action suggests more downside action since forming the lower highs covered by the falling trend line seen on the 4 hrs chart below. 1.4200 provides the first intra-day Read More
- Continue reading: Intra-day update on EURUSD and USDJPY 09-04-09
EURUSD Trading strategy: stand aside The retracement started on Friday near the 1.4400 handle is currently extending below 1.4300 to as low as 1.4280 at the time of writing this. Intra-day sentiment is bearish and a break above 1.4325 is required to signal uptrend’s resumption. Support formed by the 61.8% of last up leg from Read More
- Continue reading: Daily outlook and trading strategies 08-31-09
EURUSD Trading strategy: stand aside Yesterday’s gains have been capped on the 1.4400 mark but upside remains under pressure as the euro holds steady, conserving gains into the 1.4350 region. As noted on the chart below, the descendant trend line coming from 1.4445 to 1.4330 now may provide a minor support. Below 1.4330, 1.4290-1.4315 could Read More
- Continue reading: Daily outlook and trading strategies 08-28-09
EURUSD Trading strategy: stand aside or long at 1.4210 if we get there, initial stop at 1.4160, objective at 1.4300. Adjust stop to breakeven on +30 pips (at 1.4240) if reached The euro has been relatively quiet against the dollar on yesterday, its rally from the 1.4250 region has been capped at 1.4360 and the Read More
- Continue reading: Daily outlook and trading strategies 08-26-09
EURUSD Trading strategy: long at 1.4205, initial stop at 1.4145, objective at 1.4275. Adjust stop to breakeven on +30 pips (at 1.4235) if reached The euro continues to orbit around the 1.4300 handle so far being supported into the 1.4275/80 zone. Intra-day charts show some signs of downside action as a descending triangle has been Read More
- Continue reading: Daily outlook and trading strategies 08-25-09
EURUSD Trading strategy: long at 1.4265, initial stop at 1.4215, objective at 1.4345. Adjust stop to breakeven on +30 pips (at 1.4295) if reached The trend line barrier into the 1.4230 region has been breached on Friday and the dollar fell to 1.4375 per euro, confirming that the correction from 1.4445 is finished and uptrend Read More
- Continue reading: Daily outlook and trading strategies 08-24-09
EURUSD Trading strategy: stand aside The Euro managed to overcome the 1.4230-1.4275 zone after orbiting around the 1.4230 trend line resistance in a prolonged consolidation range of 60 points. Resistance formed by the previous top-side into the 1.4330 region is under pressure at the time of writing this and next upside objective is seen at Read More
- Continue reading: US session update on EURUSD and USDJPY 08-21-09
EURUSD Trading strategy: stand aside or eventually attempt small long at 1.4160 if we get there, initial stop at 1.4110, objective at 1.4230 – adjusting stop to breakeven on +30 pips (at 1.4190) Yesterday’s rally into the 1.4230/50 resistance zone occurred as anticipated and the said resistance is still valid. The euro holds steady, consolidating Read More
- Continue reading: Trading strategies and daily outlook 08-20-09
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