August 3, 2009 04:49

Forex Signals – EUR/USD Mixed Signals

By:

8-3-09

5:41a GMT – Friday’s entry signal was tripped at 1.4150 and hit the first target at 1.4105 for 45 pips but then quickly reversed and stopped out at break-even. Shortly after we saw a massive jump in Euro strength to around 1.4275 – since then we have seen both highs and lows above and below this number. Slow stoch is giving a buy signal on 60 min charts and a sell signal on 4h. RSI is overbought on both charts and daily has the price action at major trendline resistance dating back to 2008. If this resistance is broken it will open up the way for a restest of 1.4700.

Trading Idea: My inclination would be to sell at 1.4300, which is major resistance, but markets are mixed and direction is not clear. I will wait for a more clear signal.

(click to enlarge)
eu8309selling

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2 Comments on "Forex Signals – EUR/USD Mixed Signals"
  1. Reply
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    Comment left on:
    August 3, 2009 at 14:55
    vincent says:

    4300 is blowed out. we should all have been long long ago

  2. Reply
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    Comment left on:
    August 4, 2009 at 05:49
    edwin says:

    if you look a time frame 1wk theres a triangle break out have to close about 1.4262 if it does i go long till 1.47@@@.. not bad if you take some small ride from 1.4356

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