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Eurusdbuy

EURUSD BUY Trade Update First Target Yippy :)Just a quick update on the EURUSD trade that triggered last week we have hit the 1.00 level which was my fist target as explained in the last post so have closed 50% of the position and moved stop loss to entry price. The next target is the previous Monthly support around 1.03 and then the monthly SUPPLY/SELL zone higher up. If you read the related posts you will learn the importance of knowing what is going on in the HTF charts and then using lower timeframes for pinpointing entries, also keeping your trading as simple as possible is the key.
Long
by TheFxAce
4
Update On EURUSD BUY Idea Trade Triggered Just a quick update on the EURUSD BUY trade idea I posted last week were I wrote that I was waiting for my indicator to give me a BUY signal as we entered the 2001 DEMAND/BUY zone you can read the full idea in related ideas below. We can see it spiked down below the area at the beginning of the week likely there was a lot of liquidty under the level and we closed the week/month back up inside this zone with my indicator giving me DAILY BUY signal which is what I was looking for. I will hold this position up until the previous SUPPORT level around 1.03 and will close 50% of my postion around the 1 level and move stop to breakeven this could turn into a great long position so will eventually trail the position as it moves along. I did say only a Monthly close under 0.96 would invalidate this trade we got a break below followed by a sharp reversal and close back inside which gives me confidence in this position read the related post to understand why I entered at this level.
Long
by TheFxAce
Time To BUY EURUSD Correction to 1.03 -1.06??? Today's analysis is based of the HFT WEEKLY and MONTHLY charts with emphasis on the daily and 4hr charts were we can see evidence of a support being formed around the 0.99 area. As you can see on the WEEKLY chart my custom indictar gives very accurate signals when used on the weekly charts and especially around key price areas like we are at now. The EURO is very weak and the DOLLAR is very strong though nothing ever goes straight down this pair may very well drop alot lower in the long term though for that to happen we will see a correction is that now the signal says YES. A short term correction up towards the newly created weekly and monthly SUPPLY/SELL zones is were we should head before moving back down in the long term (may not happen) I have entered LONG @ 0.997 with a stop under 0.98 you can see my targets in the image. The idea is based on price action soley and fundamentals can invallidate this move though using the HTF charts increases probability that the idea will work ouut.
Long
by TheFxAce
EURUSD BUY TRADE THIS WEEKHI Team My last trade on this pair - yet again - hit our TP level as expected, and if you were holding it would have made even greater profits! Fundamentals: As EU countries rally successfully to mitigate rising wholesale energy costs, their economic manufacturing output looks to be in a better position than most, making a rally for EU more likely. Despite several recent strengthening measures implemented by the FED, we are seeing USD markets starting to slide again. Gains above 1.0 will be difficult to maintain, but we don't need it to stay up - we just need it to *go* up. Chart Analysis We are running a 1H 30 pip wide channel at major support for this pair, which coincides with the end stage of an AE elliott wave correction on the larger time frame. At the very least we can use this reliable pair to hit the top of the established channel - if it breaks up then we can expect a rise at least to recent highs. NEWS Tuesday 30th - Business climate and consumer confidence data: This is moderate impact, but we are not expecting a huge change from previous. - 1815 - High Impact - Harmonised index of consumer prices (YOY). Summarily this indicates price stability in the union. I am anticipating a slight rise in this value, which should see the EUR rally. Wednesday 31st - 1215 - multiple Housing data releases. We can expect further housing market instability currently - this should be a good motivator to break out. - 0900 - German unemployment rate. This is likely to increase slightly, and as the biggest player in the union, may be what sees us stuck at the local channel resistance. - 1215 - ADP Employment rate (US). IF see a value higher than consensus, it's bullish for USD and will see us struggle to break out. Opposite is true if lower than consensus. Thursday 1st - 0600 - Eur Retail sales. We are expecting Germany to have an improved retail sector on the back of increased energy security. IF as expected, will see EUR rally. - 0900 - EUR unemployment rate. Higher is bullish for USD in this pair. - 1215 - Multiple outlet USD news (moderate). These are mostly relating to jobs acquisitions and I do not think it is going to impact the market until fully assessed after the weekend. Friday 2nd - 1215 - Non - Farm Payroll (NFP). This is always the chaos box. I may post something closer to the time, but general consensus is that the jobs market cannot keep up with the bumper of the last presser. I expect strong panicky market response to see this pair shoot up at least in the short term. Summary: Anything beyond the short term outlook carries too much uncertainty. Trading against the world reserve currency also carries with it complications that aren't always easy to spot. Take each day as it comes, and come Friday establish whether trades are worth staying out of, or riding the coat tails of expected usd weakness. This is a very high RR of 12:1 trade. The invalidation below support is very clear. Like what I do? Please comment, follow, like and share. I am a real-life Doctor, and it really takes a lot of time and energy to do these analyses when I'm not in the hospital! Good luck, Trade safe DrBear
Long
by DrBear