EUR/USD

The EURUSD had another indecisive movement yesterday. There are no changes in my technical outlook. The bias remains bullish in nearest term testing 1.1470. Immediate support remains around 1.1285. A clear break and daily close below that area would be a threat to the bullish scenario retesting the lower line of the bullish channel but overall I still prefer a bullish scenario at this phase and any downside pullback should be seen as a good opportunity to buy.for more details visit my profile.

The dollar was the main loser in the last day in relatively quiet trading session. The single currency ended the day almost unchanged. The currency pair EUR/USD traded in range between 1.1338 and 1.1380 is completed day at 1.1357.

The dollar hit a new four-week low against a basket of major currencies on Wednesday. The dollar index, which tracks the US currency against a basket of six major rivals, fell 0.05 percent to 93.779 after falling up to 93.695 - the lowest level since May 11. Euro rose by 0.06 percent to $ 1.1363.

On Wednesday EUR/USD rose 0.26% over 1.1400, keeping near the Monday at three-week high 1.1392.

EUR/USD is still very bullish. The next target is likely the resistance at 1.1430, and if it breaks out above that level it could reach 1.1500 again.

On Wednesday session EUR/USD was trading in a tight 20 pips wide range. The pair added nearly 40 pips to a closing price of 1.1393. The intraday high was hit at 1.1410 which is a three-week high and the daily low was marked at 1.1354. Currently the pair remains limited by the psychological level at 1.1400, but the outlook is bulish. Possible break will target EUR/USD to 1.1465.

Yesterday EURUSD rallied with a wide range and closed near the high of the day, in addition managed to close above the previous day high, suggesting a strong bullish momentum.

The pair is trading above the 10, 50 and 200-day moving averages that are acting as dynamic supports.

The key levels to watch are: A daily resistance at 1.1556, other daily resistance at 1.1460, the 50-day moving average at 1.1301 (support) and a daily support at 1.1237.

The EUR/USD lost around 100 pips in today's session. Traders and investors were drawn again in the US dollar and the pair marked a low of 1.1306. Main trend on the short-term is yet to be determined.

Clearly there's no end to range in sight. The current move to the downside will likely continue until it reaches 1.1270, which is (MA)89 on the four-hour time-frame.

The pair seems have lost it's upside momentum, but break below the support level at 1.1300 is still required for the confirmation of bearish trend.

Yesterday EURUSD plunged with a wide range, making a bearish engulfing pattern and closed near the low of the day, in addition managed to close below the previous day low, suggesting a strong bearish momentum.

The pair is trading above the 10, 50 and 200-day moving averages that are acting as dynamic supports.

The key levels to watch are: A daily resistance at 1.1556, other daily resistance at 1.1460, the 50-day moving average at 1.1300 (support), the 10-day moving average at 1.1276 and a daily support at 1.1237.

I bought EUR/USD, I am loosing, shall I sell please?

Silk posted:
I bought EUR/USD, I am loosing, shall I sell please?

where is your stop loss?
this is the crucial question.

I dont no how to set stop loss, please help me

Well, if you bought around 1.13 you are fine. If you bought around 1.14 you should've sold a long time ago.

Silk posted:
I dont no how to set stop loss, please help me

There is one very simple rule in trading...
'if in doubt - get out!'

Another rule is... 'never trade without a stop'.
Another rule is... 'never move your stop farther from the entry price'
Another rule is... 'always calculate your lot size according to the risk you're willing to take'
as opposed to just guessing or random selecting.
Another rule is... 'never let fear or greed take control of your trading actions'

Most amateur traders are controlled by these emotions - hardly any of them will admit it.
It's the macho/ego that they are controlled by.

FOLLOW THESE SIMPLE RULES and your chances to be successful in the trading business are much greater.

If you don't know how to select SL and how to calculate your lot size (extremely important), then read some of my old posts where some of it is explained.

you can buy at this point now...

But like Stian said if you bought around 1.14 it would be a disaster

The move to the downside continued today and EUR/USD reached 1.1270 as I thought it would. If it breaks below that level next target is likely 1.1200.

victoriajensen posted:
 The move to the downside continued today and EUR/USD reached 1.1270 as I thought it would. If it breaks below that level next target is likely 1.1200.

I agree, the pair extended further south, hit fresh one week low, next target would be at 1.1200 level.