Forex Trader

The Euro extended its gains breaking the major resistance at 1.2660, establishing the daily highs at 1.2700 yesterday. Resistance at 1.2730, 1.2770 and 1.2830. Interim support is at 1.2685. Other resistance is at 1.2660 ,1.2640 and 1.2600. Bullish sentiment is seen on the daily studies while the hourlies are neutral at this time. Look for a retracement before another move up.

Recommended trades:
Short in the 1.2710 area, stop above 1.2740, target at and below 1.2660. Extended target may aim towards 1.2600 if it breaks 1.2660. Good luck trading.

The Euro rallied on yesterday as a result of the FOMC meeting, resuming the rise during today Asian session. The break of the 1.2600 resistance confirmed the bullish momentum on the daily charts. Resistance is now formed by 1.2640 which is being tested at the time of this writing and 1.2660 higher. Resistance also emerges at 1.2700. The downward trendline resistance formed on the daily charts is now seen around 1.2650. Support is formed by 1.2600 on first place, backed by 1.2575 and 1.2525. The Euro should face a solid barrier at 1.2660.
Recommended trade
Short in the 1.2660 area, stop above 1.2690, target at and below 1.2600. Good luck trading!!!

The Euro moved higher Vs the US dollar yesterday but couldn't break the resistance at 1.2575 where it established the daily high then declined to 1.2555 where it found intraday support. Higher volatility is expected today due the FOMC meeting in the US and also some european events. Support backs 1.2555 at 1.2540 and 1.2525. Lower, key support is formed by 1.2480. Resistance emerges at 1.2575, 1.2600 and 1.2640. Both daily and hourly momentum are slightly bullish. We will look forward for potential tests of the 1.26 resistance, later.

Recommended trades:
Long in the 1.2540 area, stop below 1.2510, target at and above 1.2600.

The Euro declined yesterday giving away most of its previous week gains. Support was found at 1.2540 but if it breaks then expect 1.2480 to be tested soon. Major medium term support is formed by this 1.2480 and it won't be an easy for the US dollar to break it. Resistance is currently formed by 1.2575, 1.2600 and 1.2640. Daily momentum lost strength while the hourly is neutral. Good luck trading!

Recommended trade:

Short in the 1.2570 area, stop above 1.2600, target 1.2520.

Hello all,
After the Euro rally on Thursday, the pair entered a consolidation cycle on Friday and traded in a narrow range of 45 pips. Support is formed by the 1.2600 mark backed by 1.2560, 1.2525 and 1.2480. Resistance is formed by 1.2640 followed by 1.2660, 1.2700 and 1.2730.I expect the Euro to face a decent barrier into the mid 1.26 area due the downtrend channel formed on the daily charts, its resistance being seen around 1.2660 now. Another good reason to believe that the said resistance may be a strong one, is the 50 fib retracement of the 1.2830-1.2480 move, seen in the same 1.2660 area. Daily sentiment is bullish while the hourly is neutral. Range trading is likely to continue due the lack of major economical events today. Good luck trading all.

Trade recommendation

Short in the 1.2635 area, stop above 1.2665, objectives at and below 1.2590. Long in the 1.2575 area, stop below 1.2545, objectives at and above 1.2625.

Hello all,
I will be posting information related to the Forex market. I am a trader who mainly trades the longer-term. I mainly use 60 min charts to determine entry. I will be posting my trades on this blog and updating with good information. Hope you all will enjoy. Feel free to ask questions and post relevant material. I will start soon.
Pipman