The EURUSD had a significant bullish momentum this week. Started the week with strong bullish momentum that violated the bearish channel on Monday, price hit 1.3893 and closed at 1.3877 on Friday. As you can see on my daily chart below, price seems ready to test a key long term resistance/psychological level 1.4000 which is also the 61.8% Fibonacci retracement of 1.4530 – 1.3145. A clear break and daily close above 1.4000 could trigger further bullish scenario testing 1.4150, 1.4280 even 1.4530. On the downside, only a clear break and daily close back below 1.3670 area (38.2% Fibo) could be a threat to the current strong bullish phase, testing 1.3500 area, probably lower.
Have a great weekend and see you guys next week.
- Technical Analysis
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- EUR/USD and USD/CHF- Trades Executed on October 5, 2011
EUR/USD and USD/CHF- Trades Executed on October 5, 2011
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- 05 October 2011 2:06 PM GMT
Trades Placed by optionFair
EUR/USD
The strength of the USD creates an investment opportunity in the following positions: “Low” or “Below”, “Touch Down” or “No Touch” on the EUR/USD. With optionFair™ binary options trading platform, I traded $1,000 on the “Touch Down” instrument. This kind of option has a return of 77% if the option touches the strike price prior to expiry, which means that if the signal is correct, I could get a return of $770 on my investment. The market price for EUR/USD at the buying time (12:29) was 1.3351 and the target price was 1.3341. The EUR/USD price hit
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USD/CAD: 4-hour
Sometimes, when you’re dealing with market moves THIS strong, it’s better to go with the flow! What better way to do so than to catch the pair on a retracement! USD/CAD is now deep in bull territory, but it looks as though it may be gearing up for a pullback. If you want to catch it on the ride up, you may want to consider going long on one of the Fibonacci retracement levels. The 61.8% Fib looks most tempting because it lines up perfectly with parity. Of course, it’s always best to wait for confirmation from Stochastic and candlesticks before pulling the trigger. Good luck, playas!
EUR/GBP: Daily
If you’re a fan of channels, here’s a sweet setup on EUR/GBP! The pair has been trading within a descending channel for quite some time now, and is currently testing the falling resistance line.
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Should you get out your training course DVD’s again? One user did and now he is just taking 2-3 trades a week and making more than double the pi he was making when he was taking 10-15 trades a week. ( I suspect he will be taking up fly fishing soon)
I know I have mentioned this before in other posts but it is worth mentioning again. The intent blocks show us great intent, but they also show us great deliberate manipulation before normally substantial moves.
We make money from intent, we make money from manipulation. To me that has to be a win win.
When you see opposing intent blocks in the 60 min chart this is more often than not the precursor to significant market moves. S
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1,200 Reasons To Be Confused There are times when the market is in such a strong trend that even Stevie Wonder could see which direction to trade. Currently, however, the markets area is acting like a conundrum wrapped in a riddle. There are just as many reasons to be bullish as there are to be bearish.
And even the most sophomoric of market technicians is aware of the “magic” Standard and Poors 500 major technical number resting at 1,200. The problem is that, since this time last month, the market has crossed over and under SPX 1,200 a dozen times, confusing both bulls and bears alike.
QUESTION: So what do you trade when you are confused about what the future holds? ANSWER: The Broken-Wing Butterfly (a.k.a. BWB Read more…
September 26th, 2011 in
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Fundamental Headlines
European Session Summary
For the third consecutive day, commentary out of the Euro-zone guided global markets. Higher yielding and riskier assets, such as the Australian Dollar and the Euro, continued to find higher bids on Tuesday, well-supported throughout the Asian and European sessions following developments surrounding European sovereign debt woes yesterday. The two highest yielding currencies, the Aussie and the New Zealand Dollar, were the best two performing major currencies against the U.S. Dollar, up 1.10 and 1.41 percent respectively, at the time this report was written. The higher yielding assets have continued their rebound after their sharp sell-off last week, when the Federal Reserve announced it would not inject any new funds into the financial markets.
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