daily forex signals

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Daily Outlook: Currencies continue to fluctuate with relatively little direction in the new year as we are now getting back to the early January prices. We took the short on the support break at 1.2730 (yesterday’s primary signal) and are still in the trade after our SL just barely survived the bullish onslaught. The trade is now at -30.

While we still have our short opened (SL now at 2780) our short-term outlook is still short-term bullish as we believe the beginning of the year will bring a slow return to risky assets (EU positive). This early indecision of 2012 contrasts with the latter months of 2011 where all you had to do was sell – signaling that bulls may finally be calling a bottom.

Trading Idea: We are currently short and will ride out the trade to its end (SL at 2780 now) with targets at 2710, 2690, 2660 and 2630 for 100 pips profit.

Our secondary trade is a long on a break above topside falling trend resistance (top blue line) with targets at 15 (tight!)/20/25/30 for 90 pips profit. We will move our SL to break even on target 1 to reduce risk in these indecisive markets.

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Daily Outlook: We are licking our wounds from yesterday after the bull kicked us free of our positions not once, but twice. The first long was activated as the primary position, which we closed and went short off of when the new rising support was formed and broken (bottom yellow line). The first position was closed for a small loss and the second for -50 pips. We can’t help but think it serves us right for going against one of our (few) rules of trading – not to trade on thin volume days like bank holidays.

Our overall forecast from yesterday’s siganl for the week’s beginning was more than accurate: “On a larger daily timeframe the pair is at the bottom of its downward range (connect the highs of December 20th with the high of January 12th to see the top of this resistance channel) so the pair has some definite bullish potential as we enter the week.”

Today we are keeping a tight leash on another rising trend support that we will look to short off of a break below. Short-term momentum is now bullish though medium term outlook is turning bearish as we reach the weekly falling resistance (top blue line).

Trading Idea: Primary trade is a short on a break below our rising support (currently at 2750 and rising fast) with targets at 20/20/30/30 for 100 pips profit. We will look to move our SL early and often.

We are waiting for a better support line to form before looking to get short to have a clearer entry point. S/R charts will be updated in Pro Dash and email alerts sent out for this.

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Daily Outlook: Welcome to another week PipHutters! This week’s trading opened with a 45 pip bearish gap that has yet to be closed. Gaps do not always close right away, but traders who have been around for awhile know that they definitely tend to over the course of 24-48 hours.

Right in the middle of this gap is the resistance we are currently watching as our pivot for the day right around 1.2655 and we are short-term bearish below it and bullish above it. On a larger daily timeframe the pair is at the bottom of its downward range (connect the highs of December 20th with the high of January 12th to see the top of this resistance channel) so the pair has some definite bullish potential as we enter the week.

Trading Idea: Primary trade is a long on a topside break of our resistance (currently at 2660) with targets at 20/25/25/25 for 95 pips profit.

We are waiting for a better support line to form before looking to get short to have a clearer entry point. S/R charts will be updated in Pro Dash and email alerts sent out for this.

Do you think today’s gap will be closed? Answer below:

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Daily Outlook: ”Friggatriskaidekaphobia” is a superstitious fear of Friday the 13th - while we don’t quite rise to that level it is still Friday and we will not be trading today as usual due to Friday’s traditionally low volume levels. No trade was triggered yesterday as price rose off of our rising support without ever making a break to the downside (the reason why we wait for breaks in the first place before entering!).

IN general we are short-term bullish on the pair after a good flag pole and a higher high yesterday. The medium term outlook, however, is still bearish as a series of lower lows and lower highs on the dailies all point downward in the long run.

Trading Idea: While we are not trading today if we were we would be looking to primarily get long near current price level (2840) as we just recently had a resistance break (top blue line on chart) with targets at 20/20/25/25 for 90 pips profit.

Have a good weekend everyone and happy pipping today!

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Daily Outlook: Price got within 10 pips of 2800 yesterday before another good plunge as the pair continues to slowly carve out lower lows in these slow markets. None of our trades were triggered yesterday as the price never got high enough to trip any entries.

We are still bearish as the pair continues to make lower lows and lower highs, but a bit weary that bears have not been able to make a more sustained downside break so far and hat each downside break is extremely short lived at the moment – a sign bulls may be gathering steam at these levels. We are tracking an agressive rising trend support (bottom blue line) that we will look to get short on a break below.

Trading Idea: Primary trade is a short on a break below the bottom blue rising support, currently at 2700 and rising, with targets at 20/20/25/25 for 90 pips profit.

There is no secondary trade at the moment, however we will look for a new falling resistance to form on activation of the primary trade and then get long on a break of that (will be updated in PRO Dashboard).

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Daily Outlook: Markets continue to be choppy on extremely low beginning-of-the-year volume while traders and banks still try and sort out their forecasts for the year ahead. Our primary short was activated yesterday as our rising support was broken at 1.2769 (email sent out to PRO users) and the price promptly dropped in our direction for +40 before turning around and stopping us out at break even.

We are flat at the moment and waiting for a potential play off of the horizontal resistance at 1.2805, where we will look to short below this level on a bounce and get long on a break above.

Trading Idea: On a break above 1.2805 we will look to get long with targets at 20/20/25/30 for 95 pips profit, tightening our SL to lock in profit as we go. If we see a bounce off of the 1.2800 resistance we will look to get short with targets at 20/20/20/20 for 80 pips profit.

Good pipping today and same poll as yesterday as neither S/R was hit!

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Daily Outlook: GM hutters and welcome back for another week. Last week we saw a lot of bearish movement with the EU as the dollar made gains against most major currencies. This week opened with a 25 pips downside gap (which as already been closed) followed by a quick rise as Euro bulls have come out early:

We don’t expect the Euro bullishness to last for too long as our primary forecast is for the dollar to continue to gain against other currencies. We will, as always, continue to trade what the charts give us and that starts with an aggressive rising trend support that has developed on the 4h charts since market open, shown on the chart above as the bottom blue line. On a downside break to this support we will look to get short on the pair until a new falling resistance forms and is broken. The biggest threat to our bearish outlook at the moment, from a technical standpoint, is the oversold nature of the pair after last week’s drops.

Trading Idea: Primary trade is a short on a downside break of blue rising support (currently at 2720 and rising) with targets at 20/25/25/30 for 95 pips profit. Emails will be sent out to Pro subscribers on the break.

Our secondary trade has yet to develop, but will be a break of falling trend resistance after the primary trade occurs.

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Daily Outlook: We don’t normally trade on Fridays… and today is no exception, especially with a full day of news capped off with the first NFP employment data of 2012 due out around 13:30 UTC today.

Non-farm payroll data, which many traders look to as an indication of how well the overall economy is doing (the more jobs that are being added the better the economy is doing) is forecast to come in at 150k, an increase of 30k over the last report. Despite this slight increase in job creation unemployment is forecast to slip to 8.7% from 8.6% as overall cuts in employment outpace the job creation process.

Trading Idea: We normally don’t trade on Fridays, and with the first NFP of 2012 due out today we consider any trading to be extremely aggresive and will sit today out. CandlePRO and Swing signals will continue to function as normal for PRO members.

Have a great weekend all and we will see you again Monday!

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Daily Outlook: Our primary trade was activated from yesterday’s signal as the rising trend support we were watching was broken at 1.2962 (email alert was sent out at 1.2952 which is about where we entered). Trade is currently +25 in the profit and has gotten up to +50 in the profit. We have moved our SL to break even and will look to close out and go long if our secondary trade is triggered today.

We are tracking a new rising trend support (bottom blue line) that we are short-term bullish above (though we still have our short from yesterday open). Price has not moved much so far this week and, in fact, is back at its starting point from the 2012 open. It appears bulls and bears are still testing each other out in this thin still-close-to-the-holidays volume.

Trading Idea: Primary trade is a short on a break below our new rising trend support (currently a 1.29 and rising) with targets at 20/20/25/30 for 95 pips profit. We will keep our current short open for these targets unless the secondary trade is triggered.

Our secondary trade is a long on another failure above 1.2900 with targets at 20/20/20/20 for 80 pips profit. We will be looking for another reason to close and get short on this trade, though, most likely a new rising trend support that forms and is broken.

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Daily Outlook: No trade taken yesterday as bulls came out swinging in 2012, pushing price off support which means that our entry signals (yesterday’s primary signal was a short on a break below rising blue trend support) were not triggered. Today we are looking for more of the same but are also now tracking a key resistance level above price around 1.31.

Trading Idea: Our primary trade will be to get short off a break of the rising trend support (currently at 1.2950 and rising) with targets at 20/25/25/25 for 95 pips profit. Pro users will receive email notifications when the break occurs.

We will also look to get long on a topside break of 1.31 with targets at 20/20/30/30 for 100 pips profit.

PRO users will receive email alerts when Support and Resistance levels are broken.

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