Archive For "September, 2009"

Page 3 of 3
September 2, 2009
Forex Signals – ...

9-02-09

14:26 GMT – The signal is a little bit later than usual today, thanks for waiting. I hope everyone caught the massive break out of the triangular consolidation pattern from yesterday’s signals that sent the pair down over 150 pips. The pair stalled just long enough at trend resistance at 1.4356 for a short to be entered, then continued upward making me fear it was break to the upside, but didn’t trip a tight stop at 30 pips and then broke back down. Signals aren’t as clear today as the pair hovers around support at 1.4200, so far limited both to the upside and downside of this support. I am more biased to the downside at this point with two days of lower lows and lower highs, but I expect the pair to range between 1.4180-1.42550 for the most of the day, unless the US stocks make a large move one way or another.

Trading Idea: Aggressive traders could scalp around 1.4180 and 1.4250, hourly traders should look to sell near resistance, right now above 1.4255 and 1.4300. Short targets down to 1.4215 and 1.4175, 1.4125.

(click to enlarge)
eu9209

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day trading, EUR/USD, technical analysis, trading ideas
daily forex signals, Technical Analysis
September 1, 2009
Forex Signals – ...

9-01-09

4:21a GMT – Happy September! If you have survived this long life can’t be all that bad, right? Yesterday’s signals were dead-on as the EUR/USD skimmed support at 1.4250 and then jumped up over 100 pips in just a few hours. Since then it has stalled around 1.4360, forming a triangular consolidation pattern (yellow lines below) on the charts. 60M chart is shown but it is even more pronounced on the 4h chart. This leaves us with a few trading strategies for tomorrow, including catching range pips between the trend support/resistance and also catching a breakout on either side for a good run. I’m still partial to Euro strength but yesterday’s lower high coupled with a few other other currencies are expected to be weak against the dollar tomorrow and we might see a bull run on the US dollar.

Trading Idea: look to scalp some range pips between the trend resistance (1.4350) and support (1.4275). Tight stops as a break to the upside will target 1.4400 and1.4535, while a break below support will target 1.4215.

(click to enlarge)
eu9109rangetrade

Click here to receive my free forex signals via email
Click here for more info on how to use my free forex signals
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5 Comments
day trading, EUR/USD, technical analysis, trading ideas
daily forex signals, Technical Analysis
Page 3 of 3

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