Forex Signals – Bulls Unable to Lift Price
Recap: Our short was triggered very early this morning (03:56 UTC) and then closed at break even as the entry candle closed right on top of our entry price – 1.2282. We are still bearish on the pair though and will be re-opening a short at current price (1.2285).
Overall the pair has made some extremely bearish moves over the past week, dropping well over 400 pips since July opened just under 1.27. Since yesterday’s open the pair has shown some bullish consolidation but we are still treating it as just that – consolidation – that will eventually give way to another bearish drop. We will maintain this view until the charts give us evidence of something different.
Today’s Important News Events:
| Date | Time (UTC) | Event | Forecast | Previous |
|---|---|---|---|---|
| Tue Jul 10 |
14:00 | GBP NIESR Gross Domestic Product Estimate (JUN) | 0.1% | |
| *To see a more extensive list of news events (not just those we consider important), visit our Forex Calendar. | ||||
Trading Idea: As mentioned above we are opening a short at current price, 1.2285, with targets down to 1.2205 for 80 pips profit.
* * * PipHut PRO* * *
Get alert when daily signal comes out
READ ME: How to trade PipHut’s Daily Signal
Read more about swing trading
Forex Income Calculator
Forex Market Hours
Forums
Maria
July 10, 2012 at 18:15Haha, I just had a reaaallly blond moment. PipHut has a twitter account for our comments, now I get what the deal is with the @ in the Hut. -.-”””
Maria
July 10, 2012 at 18:19What’s foggy, Johnny?
Appie P
July 10, 2012 at 18:26http://twitter.com/PipHut since 3 Jan no tweets
@maria good idea to activate it with our comments.
Yes you have your blond moments :-) @johnny monkey moments?
Maria
July 10, 2012 at 18:36But it would only make sense if we would use the same aliases here that we use on twitter, no?
@piphut maybe Mark could create some twitter – piphut link where we could link the users?
Maria
July 10, 2012 at 18:38No appie the account I’m talking about is @PipHutComments
Appie P
July 10, 2012 at 18:55Ok thanks @maria
Maria
July 10, 2012 at 18:34Very nice Sahara
Comment left on:
July 10, 2012 at 18:11
saharaview says:
not bad camel sell 2 was outside from yesterday !!! all tp hit!!
Johnny
July 10, 2012 at 18:42@Maria Foggy in my head :-)
Its all tumbling down now Oil Gold….Where s the end ?
2150 here I come, make sure you have a strong one ready for me when I get there :-)
Johnny
July 10, 2012 at 18:45How bizarre….
Johnny
July 10, 2012 at 18:54FXLive:
With The Euro At A Two-Year Low, Are There Any Optimists Left?
If you want to trade on fundamentals, you have to keep an open mind. I once believed in the euro but now I just don’t see a way out of the crisis with the current framework.
There is too much debt, unemployment and bureaucracy for the periphery to grow at a sustainable pace.
Most of all, I’m not convinced that politicians get it. When Monti blames ‘negative comments’ for Italian yields at 6% on the same day the IMF hikes its Italian deficit forecast, how can anyone have confidence in his leadership?
The euro puts all member nations on a level playing field and the South just can’t compete with the North. The productive capacity of Germany is already built up and entrenched. To overcome that, you need to match the productivity and offer some other type of advantage to make a move worthwhile.
When one country has grown accustomed to la dolce vida and another says that work makes life sweet, I can’t see a euro comeback.
Last week’s CFTC numbers showed a measly 9% cutback in euro shorts — which are at an extreme level — in spite of a nearly 300-pip squeeze. That tells me that shorts are supremely confident; even moreso now that they’ve been rewarded.
Watch out for bounces, but recognize that they’re selling opportunities.
Johnny
July 10, 2012 at 18:57@Mary – Can you wake up Mark at that @Piphutcomments???? He s probably in a deep sleep???? How bizarre …. the master leaving his diciples all alone the whole day :-)
sahara
July 10, 2012 at 19:02i have a problem with my tamtam overseas !!!! tok tok tok tak tak tok tok tok !!!!!
Maria
July 10, 2012 at 19:02I gave it my best try, Johnny.
But guys, if you want to reach me from piphut then I will only get a trigger on my mobile twitter account when you post your comments @mariapapli
I won’t see any @mary/tiger/maria’s when I’m away.
Kay
July 10, 2012 at 19:08thanks for the update, when do u start your new short buildup? and congrats for the harvest of the week so far
Kay
July 10, 2012 at 19:06Maria u mean:) pls remind me the relationship btw Gold and fiber. I forget their relationship
Johnny
July 10, 2012 at 19:10Mary is her real (?) name in the language of her beautiful country @Kayus….
@mariapapli –
http://www.google.nl/url?sa=t&rct=j&q=love+hurts+nazareth&source=web&cd=1&ved=0CFIQtwIwAA&url=http%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DsoDZBW-1P04&ei=3X38T-LIKMaIhQe5y6G1Cw&usg=AFQjCNFp_R173FI4CAWPP1HAi7EXgbDQnw
Maria
July 10, 2012 at 19:19Not quite Johnny, Estonian would be Maarja.
Kayus, I don’t know if you saw my comment on the previous page, I’m in the middle of build, so 3 still running active from 1.23 areas and replacements and previous orders that never got triggered start at 1.233. The set is max 30 trades for full position now, sustain over 1.25-1.255 invalidates.
Maria
July 10, 2012 at 19:20and yes of course Maria is my real name.
Johnny
July 10, 2012 at 19:13Not always…But they use to get along on a travel north/south sometimes @Kayus
Fyi:
MAY 08, 2012
Gold Prices Drop as Euro Losses Weigh
Euro down in forex trading
Gold prices often move with euro prices, showing an inverse relationship to the US dollar. With the euro dropping, then, it is little surprise that gold prices are falling as well. Indeed, the euro has slipped below the 1.30 level today — and gold prices are approaching $1,600 an ounce, and could very well fall below that level.
Commodities are struggling today as dollar strength improves on safe haven demand. With the US economic recovery offering a stark contrast to possible recession in the eurozone, as well as an alternative to a wobbling euro, it is little surprise that commodities are having a difficult time.
With what has been happening in Greece and France, it is little surprise that the US dollar is preferred. With all the uncertainty, the stability of the US dollar is being sought, and gold prices are following the euro lower.
Kay
July 10, 2012 at 19:35but i just saw int he TV now the Eur finance minister to conclude on loan to Spain, will that drag us further down or give us some reason to jump?
sahara
July 10, 2012 at 19:22@kayus you have a chart here in piphut (gold oik eu !! More Free Tools
Forex News
Oil v. Gold v. EURUSD chart
Pivot Point Calculator
Johnny
July 10, 2012 at 19:07Monkeys are in the area again…..Jumpin around like crazy :-(
Kay
July 10, 2012 at 19:31what do u think the planeed $37million loan to spain cause in here or it is even billion?
Johnny
July 10, 2012 at 19:19Seems the Big Dogs are playing a dirty game??? We may be heading for a fall??? Just me thinking! Lets see?
Johnny
July 10, 2012 at 19:21Fall as in Trap….Not Fall is in falling further down (On the contrary!) :-)
Johnny
July 10, 2012 at 19:21Is=As
Johnny
July 10, 2012 at 19:25@Maria – My grey hair suddenly turns into Blond :-) How could I be so wrong :-) Maarja…Howdy and how nice :-) But then again….Mary sounds nice to me too….
Maria
July 10, 2012 at 19:31yes I know, I’m infecting people here, sorry
Maria
July 10, 2012 at 19:29http://youtu.be/ByN1oHmRVrU
Johnny
July 10, 2012 at 19:31Evening Star on M15 and the fat Bear on the weekly still is all we have….We need to breach something down soon as otherwise I m afraid we will be trapped into Manipulation again. My view :-)
sahara
July 10, 2012 at 19:35if barclays is in area yes !!!
Johnny
July 10, 2012 at 19:33Good ole Jimi and his poor guitar….How well and gentle could he handle that piece :-) Great prefomer/artist…..Tnx
Johnny
July 10, 2012 at 19:34@Mary – Whatever it is you’re holding under your skin….You may infect me day and night :-)
Kay
July 10, 2012 at 19:42here is forex trading community not flirting room:0 dont let our Tigress run away pls
Johnny
July 10, 2012 at 19:40@Kayus – As been said many times in here (Not just by me but also by Mark and others) there aint no News that the Big Dogs aren t aware of unless its real fresh news (A sudden event for example)
Im sure the Spanish loan was already spiced/baked into the daily bread :-) You knmow we have wikileaks and all that Jazz….There arent any sexrest anymore these days (To bad, cause I loved to keep a secret, but nowadays even my neighbour lady found out my own little secret :-))
Kay
July 10, 2012 at 19:44haha
Johnny
July 10, 2012 at 19:42sexrest ??? I did I type that word??? Dont even know it or can find it in the dictionary…
Sexrest=Secret !!!
Johnny
July 10, 2012 at 19:44She wont @Kayus…..She s a real tiger and she will respond directly to me if she thinks I go to far….Which I am not :-) Dont worry…Maria is tough enough and I having no meanings whatsoever….just joking to loosen the tense, since I am in waiting of a breeach up/down afore I will go off to bed….GL to you
Maria
July 10, 2012 at 19:54That’s true Johnny, I would respond directly to you or to anyone else for that matter, joke or no joke.
But thank you Kayus, I appreciate it :)
Johnny
July 10, 2012 at 20:01And this piece of article I do believe :-)
BofA: Weaker Euro Only Way To Preserve Union
Strategists at Bank of America say the loss of competitiveness in the periphery due to the euro could be reversed by a 20% decline of EUR/USD. They say that would reduce about half of Italy’s loss of competitiveness since the introduction of the currency.
BofA has a near-term 1.20 target in EUR/USD but analysts say downside risks are increasing. They see value in buying a 1.10 EUR/USD 6-month one-touch option that pays 5-to-1.
Maria
July 10, 2012 at 20:04BTW where’s friend Doc gone?
Johnny
July 10, 2012 at 20:05Gone to see the Doctor !
Maria
July 10, 2012 at 20:12We miss you Doc, come back!
John R
July 10, 2012 at 20:15Yeah Doc!
Maria needs your attention now!
Johnny
July 10, 2012 at 20:21What kinda a Doc is Doc anyway @JohnR????
Johnny
July 10, 2012 at 20:08I am getting a strange feeling over this…..It seems to consolidate and asian may shoot it up???
As said above, its taking to long for a breach down….Are we witnessing the birth of a rebound to levels above 2350 ???
Strange, very….. Lets see if Ive to close my short out afore going to sleep?
Johnny
July 10, 2012 at 20:10She moves in mysterious ways as you all know! (No, not Maria, but the Market)
Maria
July 10, 2012 at 20:11Johnny why exactly would we need to keep going down between markets with nothing on the wires? We’re at difficult levels here, it’s going to take time. Let it breathe.
Good night all, take care
Johnny
July 10, 2012 at 20:13Likewise!
Johnny
July 10, 2012 at 21:10Off to bed now…But have shifted gears (Which I may regret? But have my own idea about it)
Closed Short from 2275 and done Long @2250 aiming 2350/2400.
Lets see it all tomorrow.
GN
Chip
July 11, 2012 at 05:53Good morning!
I see that @Johnny likes juggling with knives. Do you like the adrenaline rush @Johnny?
Like I said yesterday, 1.24 would make sense this week especially with the big banks from the US reporting (they could cause a small rally), but I wouldn’t risk my equity on longs any more as I think next week we shall be knocking on 1.20 level’s door.
I wish you all a wonderful day!
Appie P
July 11, 2012 at 06:19Good Morning @Chip @All
E/U M15 Current Trend UP.
Zeeshan Anjum
July 11, 2012 at 07:07took a short here at 2268… aiming 1.2210…