Archive For "May, 2009"

Page 1 of 2
May 27, 2009
Forex Signal – E...

5-27-09

6:21a GMT – Pair did bounce off support yesterday (netting us some pips) which technically puts the charts in a more bullish light for the short and mid-term. Fundamentally it seems that as news and leading indicators on the US economy improve people are removing their money from the relative safety of US dollars and seeking riskier investment vehicles (such as stocks, carry trades, etc.). This is why we are seeing such a solid rise in the EUR vs. the USD.

Trading Idea: To capitalize on the uptrend we will look to buy on bounces of support closest and strongest is above 1.3850, though I will be watching the 60M charts for bullish candlestick signals for entry points as well. Targets at 1.3895, 1.3930 and 1.3995. Smart stops as pair is still teetering on overbought.

(click to enlarge)
eu52709buying

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2 Comments
day trading, EUR/USD, technical analysis, trading ideas
daily forex signals, Technical Analysis
May 26, 2009
Forex Signal – E...

5-26-09

6:26a GMT – Overbought levels appear to be causing the EUR/USD to stall out on the charts after the Memorial Day holiday in the States on Monday. On the daily the price action is just below 70 on the RSI and on the 4-hour it has just dipped below 70. Either way the pair has been pushing overbought all last week and is due for some consolidation so I will be looking to buy bounces off of support.

Trading Idea:  Nearest support is at 1.3895, however use extremely tight stops if you trade this level as a break below could spell much more significant drops. A more conservative support zone is around 1.3800 with targets at 1.3845, 1.3895 and 1.3935.

(click to enlarge)
eu526mixed

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No Comments
day trading, EUR/USD, technical analysis, trading ideas
daily forex signals, Technical Analysis
May 22, 2009
Forex Signal – E...

5-22-09

6:11a GMT – Booked good pips yesterday off the 1.3720 bounce, looking to reset on a dip before the weekend if possible. Volatility overall in the forex markets has been coming down in recent weeks and months as big money becomes more comfortable with the level of risk the carry trade offers. As a result I expect the Euro to continue to gain strength as its interest rate is more attractive. However, deteriorating fundamental conditions in eurozone threaten to derail the carry trade. Technically the pair is overbought right now so I will look to buy near support on a dip.

Trading Idea: Nearest support is at 1.3720, will look to reset on a bounce there with tight stops. Targets at 1.3775, 1.3825 and 1.3895.

(click to enlarge)
52209buying

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day trading, EUR/USD, technical analysis, trading ideas
daily forex signals, Technical Analysis
May 21, 2009
Forex Signal – E...

5-21-09

5:15a GMT – EUR/USD crashed through resistance yesterday and never looked back, busting upwards almost 150 pips at its peak. With the fresh higher higher and higher low we are again looking at a steady uptrend and buying opportunities. Hourlies are close to overbought territory – which is normal in a strong trend – but we will look for dips to buy as those levels cool off. Nearest support levels are at 1.3720 and 1.3665.

Trading Idea: Looking to buy a bounce off of 1.3720, tight stops, targets at 1.3775 and 1.3830.

(click to enlarge)
eu52109buying

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day trading, EUR/USD, technical analysis, trading ideas
daily forex signals, Technical Analysis
May 20, 2009
Forex Signal – E...

5-20-09

6:40a GMT – EUR/USD continued to consolidate yesterday after making an early dive and booking us some pips it then rose back up to resistance at 1.3665. Overall technical signals are mixed after the pair failed to clear 1.3720 last week on the bearish side, with a clear uptrend and overbought levels cooled off on the bull side. In the short to mid-term I will look to sell another failure of 1.3665 resistance.

Trading Idea: Tight stops on mixed signals. Looking to sell a failure of 1.3665 with targets at 1.3595, 1.3530, and 1.3490.

(click to enlarge)
eu52009selling

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day trading, EUR/USD, technical analysis, trading ideas
daily forex signals, Technical Analysis
May 18, 2009
Forex Signal – E...

5-18-09

5:26a GMT – Hello PipHutters! I haven’t sent out any signals over the past few days as I’ve been pretty busy but I’m back on top of it now. Technically we’ve had a significant stall underneath 1.3730 over the past week after a major rise the 3 weeks before, so in the short to mid-term I am looking for selling opportunities on breaks and stalls off rallies.

Trading Idea: Nearest resistance at 1.3495 and 1.3555, where I will look to sell stalls off of rallies. Tight stops, targets down to 1.3450, 1.3410, 1.3355.

(click to enlarge)
eu51809selling

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No Comments
day trading, EUR/USD, technical analysis, trading ideas
daily forex signals, Technical Analysis
May 13, 2009
Forex Signal – E...

5-13-09

3:25a GMT – Buy signal at support was never hit yesterday so no trade was entered. Pair is currently struggling to get above resistance at 1.3725 as the pair is heavily overbought and searching for momentum. Same as yesterday I will wait for these overbought levels to cool off and buy on dips. I would consider selling another failure of 1.3725 or 1.3700.

Trading Idea: Looking to buy on bounces off of support at 1.3475, but would also consider a good bounce off of 1.3550. Targets at 1.3545, 1.3595, 1.3650 and 1.3725.

(click to enlarge)
eu51309buying

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1 Comment
day trading, EUR/USD, technical analysis, trading ideas
daily forex signals, Technical Analysis
May 12, 2009
Forex Signal – E...

5-12-09

4:26a GMT – EUR/USD is making a strong move for the bulls on all charts 1 hour and above, with the euro having gained roughly 700 pips in the past few weeks. Technically I am bullish on the pair in the mid-term but it is very overbought in the short-term. Pair cooled off a little bit yesterday as traders consolidated their positions overall but still has room to drop so I will be looking to buy on dips.

Trading Idea:  A bounce off support near 1.3475 would provide a good opportunity to reset longs. Tight stops, targets at 1.3530, 1.3595 and 1.3645.

(click to enlarge)
eu51209buying

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No Comments
day trading, EUR/USD, technical analysis, trading ideas
daily forex signals, Technical Analysis
May 7, 2009
Forex Signal – E...

5-6-09

6:26a GMT – The EUR/USD did very little yesterday, though our first two targets were hit for 90 pips, refusing to make any progress in any direction. It actually formed a doji on the daily chart – but  a useless doji as it was not confirmed by the previous candlesticks. Given the indecision in the market I am looking to sell near resistance and buy near support with the right entry signals (stalls, candlesticks, RSI).

Trading Idea: Selling near resistance at 1.3380, buying near support at 1.3200 on confirmation signals. Tight stops, targets at 1.3300 and then other support/resistance (1.3200/1.3380).

(click to enlarge)
eu5609ranging

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2 Comments
day trading, EUR/USD, technical analysis, trading ideas
daily forex signals, Technical Analysis
May 6, 2009
Forex Signal – E...

5-05-09

4:28a GMT – Happy Cinco de Mayo! I’m long on EU pair off of the bounce at 1.3250. 20 pips in the profit right now with extremely tight stops as support at 1.3200 is stronger. Pair was overall bearish yesterday however it failed to make a lower low so the uptrend is still intact and, in general, I support buying the euro in the short- to mid-term.

Trading Idea: I will ride the bounce off of 1.3250 with a tight stop to targets at 1.3295, 1.3340, and 1.3395. If it goes south I will look to reset around support at 1.3200.

(click to enlarge)
eu5509buying

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No Comments
day trading, EUR/USD, technical analysis, trading ideas
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