daily forex signals

Daily Outlook: A solid week for us as our primary EU short was triggered yesterday at 1.3178 (email sent out to PRO users) and quickly dropped to hit all of our targets for +80. We are closing out our GU trade for -10 and our AU trade at break even (current prices) to enter Friday and the weekend flat. As usual we do not trade Fridays as they tend to be more volatile due to the lower volume. We will be updating all pairs (including EU below) with aggressive swing trading signals:

Markets have basically ranged all week as a Eurozone/Greece debt deal has weighed heavy over market participants. If the deal hits today expect a big move on the thin volume. We could see the move going either way but we are biased short due to a) the technical congestion we’ve seen this week and b) experience tells that markets like to buy the rumor and sell the news.

Trading Idea: We are tracking a falling trend resistance that, if we were trading today, we would look to get long on a break of with targets at 20/20/20/20 for 80 pips profit. Even though we are not trading today email alerts will still be sent out.

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Daily Outlook: It has been a solid week for our swing trading with another 135+ pip day yesterday, bringing our weekly total to +395 pips. Our short yesterday (primary trade) got +20 into the profit before reversing and stopping us out at -40 when the pair broke the falling resistance we mentioned as our secondary trade, which opened up our long. Our long rallied strongly and hit all targets rather quickly for +105.  The other 70 pips came from our UsdChf trade which hit +90 (5 pips short of our last target) before slowing down and hitting our SL at the third target for +70.

Trend is turning short-term bearish at the moment after a new low was put in early yesterday, though bulls still appear to be holding on to hope of  a Greek debt deal. We believe a Greek debt deal is very likely to occur soon, however the terms of the deal (especially whether or not Greece will have to give up fiscal sovereignty) will heavily impact how the markets react to the deal. We are always weary of the “buy the rumor, sell the news” aspect of the markets.

Trading Idea: Primary trade is a break of aggressive rising trend support we are tracking as the last blue line on the chart (currently at 3150 and falling – Pro users will be sent email on break) with targets at 20/20/20/20 for 80 pips profit.

We will also be adding a resistance line at 3220 that we will look to get long on a topside break with targets at 20/25/25/30 for 100 pips profit.

Safe pipping today!

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Daily Outlook: Another successful swing trade as yesterday’s primary trade hit all targets for +80 (much more if you let your profits run), and another great day for swing trading in general as trades for all pairs were at +120.

Overall trend is still slightly bullish but momentum is shifting as the price has stalled out over the past few days, and the pair now appears to be making a lower low after putting in a lower high. It did appear to make a sloppy Head and Shoulders, but ideally in that pattern the right shoulder would be lower than the left and in this case it was higher. We did get in a short at current levels (3040 – pro users received S/R email) on the support/neckline break.

Trading Idea: Targets for our short from 3040 are 20/20/30/30 for 100 pips profit. We do have an aggressive falling resistance as well (top blue line) and will look to close our short and get long on a break with targets at 20/25/30/30 for 105 pips profit.

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Daily Outlook: We are closing our long from yesterday’s primary trade (break of falling resistance) at current price for +50 pips, capping a 140+ pip day for our swing trading in PRO. The email alert for PRO users went out at 1.3133. We are tracking a new rising support today:

And we will look to get short on a break of the rising support – but with a tight trailing stop as the primary trend is still extremely bullish. It is hard to not feel like the markets are “buying the rumor” of a Greece debt deal at the moment (which has still not been reached but is expected by week’s end) and then will “sell the news” once the deal finally hits the wire. Either way we stick to the technicals – which are bearish with an opportunity for a short.

Trading Idea: Primary trade is a short on a break of rising trend support (currently at 3150 and rising – emails will be sent to PRO users) with targets at 20/20/20/20 for 80 pips. Tight targets and tight SL as trend is bullish at the moment.

We will look to get long when the primary finally hits and a new falling resistance is formed and broken – emails will be sent to PRO users for this too.

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Daily Outlook: The EU uptrend remains intact with price making steady higher highs and higher lows since early last week. Price is currently dropping underneath a nice and clean falling trend resistance line:

Markets may be reacting a bit to more rhetoric out of Berlin about Greece basically giving up its fiscal sovereignty in order to receive another bailout which, in some analysts view, would be nothing short of the annexation of Greece by Germany. Interesting times. Whether that is true or not we find the falling resistance technically credible and will look to get long on a break above it.

Trading Idea: Primary trade is a long on a break above the falling resistance (currently at ~3135 and falling fast) – Pro users will receive email alerts – with targets at 20/20/25/30 for 95 pips profit.

We don’t have a secondary trade currently (we will wait for a rising support to form for our secondary) but aggressive shorts could be taken underneath the resistance line. Volume could be on the light side today as it is moth end but we expect volume to return to normal tomorrow.

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Daily Outlook: EU has entered a very tight consolidation entering the weekend after a very bullish week during which the pair has risen almost 550 pips. I guess we can all agree that the weekend gap was definitely closed from this Monday :).

The tight consolidation is between 1.3120 and 1.3070 (50 pip range) and, if we were trading today, we would look to take a breakout in either direction. More European bailouts appear to be on the horizon, even if the IMF is currently under pressure from taxpayers across the globe – next week should be interesting to watch.

Trading Idea: We are not trading today due to our Friday rule (low volume creates higher volatility). If we were we would look to trade a breakout from our tight range in either direction with targets at 20/20/30/30 pips for 100 pips profit.

Have a good weekend and answer the poll!

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 Oops, almost forgot – we came out with an updated strategy guide today where we discuss 7 advanced but straightforward and profitable trading strategies. They can be used with or without CandlePRO (it’s just a whole heck of a lot easier with CP) if you are knowledgeable in candlesticks.

Check out the new strategy guide here.

Tomorrow we will release the swing trading strategy, which is the strategy we mainly use for the daily analysis (e.g. short on a break of support, long on a break of resistance).

Cheers! – PipHut Team

Daily Outlook: Yesterday we were looking to get long two different support levels with good confirmation and we got it around 1:00p yesterday when the 12:00 1h candle closed as a bullish doji. We didn’t enter right away – instead we followed CP’s Backtester and set our entry 36 pips below the bullish doji (a “pullback”), which was the most profitable trade over the past several years:

 All targets were hit on yesterday’s trade for 95 pips profit (those were the targets we gave in yesterday’s free analysis – if you only followed CP’s Backtester to the letter than you *only* walked away with 72 pips).

Today the pair is currently consolidating into a tight ascending wedge:

We will look to trade a breakout of the wedge in either direction, though our first preference is to the upside as the pair has shown much bullish strength this week. Either way we will keep our SL tight!

Trading Idea: Primary trade is a short on a break below rising support, currently at 1.30 and rising, with targets at 20/20/30/30 for 100 pips profit.

We will also trade a topside breakout of 1.3070 with targets at 20/20/30/30 for 100 pips.

Happy Pipping! Don’t forget to answer today’s poll:

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Daily Outlook: All targets were hit on our long yesterday for +95 pips – more if you let your trade run past the last target. And, once again, the weekend gap was closed the following day! If anyone has been counting we’d be curious to know what the success rate with that has been recently – 8/8? Higher?

After the large bullish break yesterday the rising support (right yellow line) continues to lift the price, however with the break of psychologically important 1.30 we are now watching a horizontal support near 1.2985 that connects this morning’s lows with January 20th’s highs. We think there is still plenty of bullish upside left and will be primarily looking for reasons to get long today.

Trading Idea: Primary trade is a long near rising support (currently at 2950 and rising) with good confirmation, or near 2990 with great candlestick confirmation. For either trade we will target 15/20/30/30 for 95 pips profit, moving our SL at each target to reduce risk.

We will look to get short on a break below 2985 with targets at 15/20/25/30 for 90 pips profit,  and will look to close out and get long around 2950 for the primary if price stalls or a bullish candlestick appears.

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PRO Note: New training materials and trade examples will be out tomorrow (January 24th) – thanks for being patient as we upgrade the system!

Daily Outlook: Price opened with a 40 pip gap on our price feeds – just above the blue rising support on our chart below:

We can’t remember the last time a weekend gap was not closed on the same day so, if history holds true, then odds are price will hit at least 1.2930 today (where price closed at Friday of last week). As such we’ve taken an aggressive single-lot long near current price (2885) with targets at 2930 and a stop below our rising support.

The main question going into the week is will this be a risk-on week, or a risk-off week? As always news out of Europe is mixed, with the latest bailout of-the-day always teetering on the brink of falling apart, as is news out of the US. The US dollar though is still seen as a “safer” currency to hold than the Euro when risk is off. We are looking at last week’s rally as a technical correction (consolidation pattern) that will break to the downside once again.

Trading Idea: Targets for our long are 2905, 2925, 2950 and 2980 for 95 pips profit. If price continues to drop below our rising support we will stop and get short on the break with targets at 20/20/25/30 for 95 pips profit.

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Daily Outlook: Tough day for our EU swing trades yesterday as the pair seemed to retrace every time an S/R was broken promptly kicking us out of our positions. We have been doing this for long enough, however, to know that losing trades are just as big a part of the game as winning trades (probably bigger) and we still have full confidence in our system for EU.

EU continued its bullish march yesterday, pushing to the underbelly of 2900 where price currently is. We are still short term bullish on the pair and primarily looking for reasons to buy up to 1.30, however we will also take short-term shorts to take advantage of the overbought pair.

Trading Idea: Primary short is on a break of blue rising support (last blue line on chart above – emails will be sent out to PRO users on the break entry) with targets at 20/20/25/25 for 90 pips profit.

We will also continue to look/wait for a good resistance to form for us to get long off of. 1h candlesticks performed VERY well yesterday.

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