Archive For "January, 2009"

1-12-09

6:26a GMT – EUR/USD in agreement with last week’s signals took a nice drop on Friday that I expect to continue into this week as technical indicators point to more downside loss for the EUR. I will also be keeping a close eye on the US stock market though as I expect the dollar and the US stocks to have an inverse relationship (e.g. if stocks go up then dollar will go down).

Trading Idea: Looking to sell rallies particularly around resistance. Nearest resistance is at 1.3550 and 1.3650. Look for bearish candlestick signals around those areas with shorts favored for a return to 1.3375 and eventually 1.3250.

(click to enlarge)

Click here to receive my free forex signals via email
Click here for more info on how to use my free forex signals
Click here to learn how much you can earn with our Forex Income Calculator
Discuss this signal with me and fellow traders at the new Forex Discussion Groups

1-10-09

6:26a GMT – Pair did rise to just above the 1.3765 level before dropping back down to 1.3650 level but signals remain mixed. The dip yesterday from 1.3775 to 1.3650 is looking suspiciously like a consolidation pattern (signaling additional gains for the EUR) however overall I am still bearish on the pair and looking to sell resistance on bearish candlestick signals around 1.3765.

Trading Idea: look for selling opportunities around 1.3765. Tight stops recommended as a sustained break above 1.3785 could signal further gains (possibly to 1.3900). Short targets at 1.3650, 1.3550 and eventually 1.3375.

(click to enlarge)

Click here to receive my free forex signals via email
Click here for more info on how to use my free forex signals
Click here to learn how much you can earn with our Forex Income Calculator
Discuss this signal with me and fellow traders at the new Forex Discussion Groups

1-8-09

5:26a GMT – Yesterday we saw the EUR/USD clear some of the oversold levels as it rose to 1.3750 and then fell back down to 1.3550. Signals from the charts show the market is looking for direction at the moment and when the market is aimless I like to sell the range until a breakout occurs. In this case I am looking to sell the resistance at 1.3750.

Trading Idea: Shorts preferred on bearish candlestick signals around 1.3750 resistance. Short targets down to 1.3550, and 1.3375

(click to enlarge)

Click here to receive my free forex signals via email
Click here for more info on how to use my free forex signals
Click here to learn how much you can earn with our Forex Income Calculator
Discuss this signal with me and fellow traders at the new Forex Discussion Groups

1-7-09

5:26a GMT – The EUR/USD continued its downtrend yesterday to just above 1.3300 before beginning a correction back above 1.3500 early today. Overall signals are still bearish and I am looking to sell near resistance at 1.3555.

Trading Idea: Look for bearish reversal signals on the 60M charts near 1.3555, with short targets favored back down to 1.3250 in the mid-term. On a sustained break of 1.3555 look for a re-challenge of resistance at 1.3650.

(click to enlarge)

Click here to receive my free forex signals via email
Click here for more info on how to use my free forex signals
Click here to learn how much you can earn with our Forex Income Calculator
Discuss this signal with me and fellow traders at the new Forex Discussion Groups

1/6/2009

5:51a GMT – Happy New Year! I hope you all had a good break, time with family, etc. Back to forex signals! Over the past week or so (it seems like it has been awhile since the last signals) the EUR/USD has begun a significant correction from its December rise. The pair has made lower lows and lower highs (confirming the downtrend) and has broken through important daily support at 1.3824.

I expect the downtrend to continue in the mid-term and I am looking to sell rallies near resistance. Markets are, as always recently, choppy and volatile so tight stops are recommended.

Trading Idea: Nearest resistance is around 1.3655. I am looking to sell rallies near this point on bearish reversal signals (candlesticks preferred). Keep stops tight as the pair is close to being oversold (RSI touching 30 on the 4-hour charts).

(click to enlarge)

Click here to receive my free forex signals via email
Click here for more info on how to use my free forex signals
Click here to learn how much you can earn with our Forex Income Calculator
Discuss this signal with me and fellow traders at the new Forex Discussion Groups

No forex signals until Monday 1/5/09 as banks are closed to bring in the New Year.

I hope you have a wonderful 2009 from PipHut!