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Trade Idea Wrap-up: EUR/USD – Hold long entered 1.3020

admin — Sat, 31 Jul 2010 10:22:29 +0000

Failure to extend intra-day rebound from 1.2980 suggests further consolidation would be seen and indicated minor support at 1.2977-80 must hold for prospect of another bounce to 1.3055/60, then towards yesterday’s high at 1.3107, however, break there is needed to signal recent upmove has resumed and extend towards 1.3145/50 but reckon 1.3170/75 (1.618 times projection of 1.2732 to 1.2966 measuring from 1.2794 as well as 50% projection of 1.2151 to 1.3029 measuring from 1.2732) would limit upside.

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Eur/Usd: A Critical Day

admin — Fri, 23 Jul 2010 08:05:12 +0000

We will see today who is going to win, bulls or bears. Mysteries of stress tests are going to end today. Briefly markets have carried a positive atmosphere till today .The parity is still under very strong and serried resistance levels. While the parity shows upward desire by getting firmly View full post on Technical Analysis

IMM Positioning – Positioning Risk On EUR/USD Eases

admin — Mon, 12 Jul 2010 18:03:49 +0000

During the week covered by the latest IMM positioning data, USD has weakened more than 2% in effective terms, with EUR/USD breaking well above 1.26 in summer-thin trading and with USD/JPY dropping below 87. The broad-based USD weakening has coincided with speculative investors trimming their net long USD positions, primarily View full post on Technical Analysis

EURUSD Set To Trade Further Higher

admin — Sun, 11 Jul 2010 14:46:53 +0000

As the pair followed through higher the past week on the back of its previous week bullish run, further bull pressure is set to recapture the 1.2671 level, its May 21′10 high and the 1.2721 level, its July 09′10 high. These two key resistance levels must give in to set View full post on Technical Analysis

Trade Idea Update: EUR/USD – Buy at 1.2555

admin — Sat, 10 Jul 2010 11:33:43 +0000

Euro’s retreat after intra-day marginal rise to 1.2723 suggests a minor top has been formed and consolidation below there would be seen with mild downside bias for retracement to 1.2600, however, renewed buying interest should emerge around previous support at 1.2553 and bring another upmove.

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Trade Idea Wrap-up: EUR/USD – Buy at 1.2505

admin — Fri, 09 Jul 2010 19:14:03 +0000

Despite intra-day marginal rise to 1.2723, the subsequent sharp retreat signals a temporary top has been formed and retracement to 1.2553 support cannot be ruled out, however, renewed buying interest should emerge around 1.2500/05 (38.2% Fibonacci retracement of 1.2151 to 1.2723) and bring another upmove later.

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EUR/USD Showing First Signs of Reversal

admin — Fri, 09 Jul 2010 19:14:02 +0000

The EUR/USD was in a diagonal triangle according to the 7.8.2010 update. The market did not reach 1.2740, but was held at 1.2720. Then there was a sharp slide in the European session until the start of the US session, when the decline paused. I would like to see a View full post on Technical Analysis

Trade Idea Wrap-up: EUR/USD – Buy at 1.2555

admin — Fri, 09 Jul 2010 02:54:30 +0000

As the single currency has maintained a firm undertone partly due to cross-buying against Japanese yen, suggesting recent upmove remains in progress and gain towards 1.2739 (61.8% projection 1.2193-1.2613 measuring from 1.2479) is likely, however, loss of upward momentum should prevent sharp move beyond there and reckon 1.2784 (50% Fibonacci retracement of 1.3692 to 1.1876) would hold from here, bring correction later.

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EUR/USD in a Wave 5 Diagonal Triangle?

admin — Fri, 09 Jul 2010 02:09:06 +0000

Following the EUR/USD as it rallies towards 1.2750 as posted in the previous update. The market is indeed rallyign towards 1.2740/50, however the momentum is slowing, as we see a lengthy bearish divergence forming. The pattern of the rally that started near 1.21 suggests an impulse wave. In the bigger View full post on Technical Analysis

Eur/Usd: Raise Above 1.2554

admin — Thu, 08 Jul 2010 10:42:32 +0000

We have mentioned a few times last week that our main target is 1,2762 just over 1,2456 .The movements are still on the same way.We are able to say that 1,2552 didn’t break yesterday and has gained strenght at that point in terms of bullish trend. Today we are expecting View full post on Technical Analysis