Forex Signals – EURUSD Support Break
Site Update! We hope everyone had a nice long weekend with Columbus Day closing down the US banks yesterday. As we promised before the weekend we put up a new interactive tour for PRO this weekend. You should check it out here – you just might learn something you didn’t know! If you have any questions the best way to reach us is to email support@piphut.com, of course :)
Recap: No trades taken last Friday to report on, as promised, though it would have been a 160 pip day if we were in the market as both our GU and AU setups were triggered and appeared to run for full profit. That’s the last time our Chief Strategist gets a day off :)
EU continues bouncing on top of long-term rising support (bottom yellow line on today’s chart – connect the lows of August with October’s lows to see it on your chart).
We see that support as a key level in the medium term: if price remains above it we are bullish and if we see a break below then we are bearish as it immediately opens up 1.25 for a re-challenge.
Today’s Important News Events:
| Date | Time (UTC) | Event | Forecast | Previous |
|---|---|---|---|---|
| Tue Oct 9 |
14:00 | GBP NIESR Gross Domestic Product Estimate (SEP) | 0.2% | |
| *To see a more extensive list of news events (not just those we consider important), visit our Forex Calendar. | ||||
Trading Idea: We had a support break 10 minutes ago at 1.2943 and we will take a short at current price (1.2939) with a TP of 1.2860 (79 pips) and a SL of 1.2989 (50 pips).
If a falling resistance forms and breaks we will close and get long with targets at 80 pips.
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smile
October 9, 2012 at 10:47Thanks @Mark for the new signal
PipHut Team
October 9, 2012 at 15:40You are very welcome @smile
unamed
October 9, 2012 at 11:00Hi mark.. thanks for signal..
Still hold my sell from 1.2981..
andi
October 9, 2012 at 11:17Good day everyone, thanks @mark for new analyze and signal, finally we have some new comments :-) nice, as per my comment from today early morning I did closed my short @2915 and went long from that level till 2938 now waiting for confirmation to jump again over 2951 for nice higher targets like 72,86,95 and final 3012, but if the pair manage to have a closing under 2915 and second line 2885 then no more break for bears, all in all consolidation between 2915 and 3017 would be seen today but upper and lower levels from these points C and GL
Comment left on:
October 9, 2012 at 06:34
andi says:
Good Morning @smile, good Morning @fred, @sharaview, it seems there are no more other people in this forum or maybe piphut has a new chat room or services which we do not know? however wish all of you a good day and nice trading and profit taking , some information about today trade, under 2950-60 or above 1.3000 , these are the directions and lowest level seen for today 2915 and higher level 3070 .TC and GL
Fred
October 9, 2012 at 13:25thanks andi, i need all the advice i can get
PipHut Team
October 9, 2012 at 15:41Markets always seem to slow down as we approach the end of the year, plus with the holiday yesterday.. Lets hope it’s temporary :).
Ronam Evseev
October 9, 2012 at 12:48hi 2 all! But I didn’t see that price for GU in terminal! Only 1,6 is today’s high
Ronam Evseev
October 9, 2012 at 12:49sorry – today’s low
sahara
October 9, 2012 at 13:50a quick hi for all
sahara
October 9, 2012 at 13:591770 grrrrrrrrrrrrrrrrrrrrrrrrr
andi
October 9, 2012 at 14:45a quick hi also from me, @saharview, nice to see you again, @fred, hope all ok with trade, well I made a second round like morning time and closed this time earlier but I am waiting to find a good support line to buy again , let’s see if 2901 will hold also this time if so again back and I will buy again for same targets GL
andi
October 9, 2012 at 15:02ok it seems the second support was a good barrier but still danger for more downside, will open a long if back over 2900 like 2905-10 area for quick 20,20,30 pips
Looi Hong Ling
October 9, 2012 at 15:08Hi piphut,
Why is there a sustained break (resistance – buy) trade still running and there is a new support break – short trade signal sent out?
Can you please clarify how should i trade?
1 BUY and 1 SELL doesn’t make sense.
Looi Hong Ling
October 9, 2012 at 15:09Above was referring to USDJPY trade.
PipHut Team
October 9, 2012 at 15:43Sustained breaks and false breaks are only determined on the entry candle, so the entry candle can close as a sustained break and then the subsequent candles can cross back over the support and trigger another support break. Does that make sense?
Looi Hong Ling
October 10, 2012 at 04:21What I meant is you asked to sell Usd jpy on support break
Then it is confirmed as a sustained break so I should hold the trade
Then while the trade is running and in negative p/l.. Another resistance
break signal came in ask to buy.. So? Should I close my sell trade?
smile
October 9, 2012 at 15:102876 is key level for now. If broke it will more down till 2810 if not back to go up
andi
October 9, 2012 at 15:51@piphut, thanks for signal and good analyze today, got my profit from piphut order, well the second barrier was not strong enough 2885 and now we are facing 2840 but any backup over 85 will make the 2900 friends happy again which is right now not a simple case with this Merkel’s Market
PipHut Team
October 9, 2012 at 16:16Nice work @andi. A lot of weakness on the charts right now but the price is stalling around intraday support above 1.2850. Lets see.
sahara
October 9, 2012 at 15:541770 hahahha!!
sahara
October 9, 2012 at 15:56wii be here in a few time ### child from school !!!
andi
October 9, 2012 at 16:06hello my friend, was 1770 sell or long? it was the best Goldi Day today again no passanger or crew :-(
sahara
October 9, 2012 at 16:14hahahha !!! and 2990 area too !! did you remember friday target !! (2880!!
sahara
October 9, 2012 at 16:16was red today but i think gold can kiss 1740 ??
sahara
October 9, 2012 at 16:21was afraid with 1770!! will hold or not
andi
October 9, 2012 at 16:08the line from here to 2910 seems not bad but again 2885 should be taken, after that 2940 now barrier on the top
unamed
October 9, 2012 at 16:18Enough for today hit my tp
Need go to sleep for asian trader like me..huhu..
Thanks mark for the great signal..
sahara
October 9, 2012 at 16:19good night and congrats friend
smile
October 9, 2012 at 16:21Congrats @unnamed
andi
October 9, 2012 at 16:52@saharawiew, yes my friend I remember that, perfectly played and all in the right time, as you know the rally should start again sooner or later because of Election in US and then we will see some how the target 1.3500 before any drop to 1.2500 for year end, but who knows what they decide now to clear the line or play it again up to 2990??? will now more about it tomorrow
sahara
October 9, 2012 at 16:56a littel free free tomorrow !! was not follw gold all tp was 1740 area but closed 1764 !! only one small lot open 1775 will let it running if gold want to bless me again §!!!!!!
sahara
October 9, 2012 at 16:58even eu a few lots best hit 2913 ! that s all was away can not follow !!
sahara
October 9, 2012 at 16:59all entry was 2990 area !
sahara
October 9, 2012 at 17:12i read this in a daily analysis (pro pair signal !!)…………our Chief Strategist was on vacation. That’s the last time he ever gets time off :)……………………. grrrrrrrrrrrr chief !! vacation is healthhhhhhhhhhhhh !!! dont care !!
PipHut Team
October 9, 2012 at 17:25:) agreed!
sahara
October 9, 2012 at 17:25like yesterday i knocked abd no one behind door !! grrrrrrrrrr alone !!
sahara
October 9, 2012 at 17:32@andi !!!!!!!!!!!!! forexitis ! doc !!!! more than that i have camelis !! i neeeeeeeed vacation !!(do not care i will shut down more than a pc hahahahah !!!!
andi
October 9, 2012 at 17:37@saharaview, :-) yes my friend that is what we have all to do, get tired, have some visitor and will shut down , c u all tomorrow, take care and have good night
sahara
October 9, 2012 at 17:39you are in treatment !!!! nice : sleep my friend do not forget food !!! am in area for a few time again !! good night @andi
Fran
October 9, 2012 at 20:08Hi piphut, thanks for your signal euro/dolar.
PipHut Team
October 9, 2012 at 21:21You are very welcome @fran, glad it was useful!
Dean
October 9, 2012 at 22:37I see medium term target at 1.2470 for now.
Looi Hong Ling
October 10, 2012 at 04:22What I meant is you asked to sell Usd jpy on support break
Then it is confirmed as a sustained break so I should hold the trade
Then while the trade is running and in negative p/l.. Another resistance
break signal came in ask to buy.. So? Should I close my sell trade?
PipHut Team
October 10, 2012 at 07:25Unfortuantely we weren’t trading UJ yesterday so we can’t tell you what we did, but I don’t see any resistance breaks at all that occurred yesterday… are you talking about earlier in the week or possibly a different pair?
sahara
October 10, 2012 at 05:40gm all
smile
October 10, 2012 at 05:56GM @Saharaview
sahara
October 10, 2012 at 06:37hi @smile how are you my friend !! so busy in this momet that s why amawy eu ?? seems building 2890 before a drop??
smile
October 10, 2012 at 06:52Good. And how about you? yes it will build 2890/2910 area
smile
October 10, 2012 at 06:53Now trading aud/usd long position
sahara
October 10, 2012 at 06:56it seems playing inside 0230 0170 !!!! to fly have to broke 0256 area !!! A QUICK VIEW have not follow!!