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EUR/USD
Feb 04, 2016 at 08:06
Miembro desde May 01, 2015
posts 675
The single currency recorded considerable profits on Wednesday session and thus managed to overcome its recent upwards range. The euro added nearly 200 pips to a closing price of 1.1102. The daily extreme values were reached respectively at 1.1137 over three-month high and 1.0903. The index of relative strength highlights the dominance of bulls as immediate goal appears to be 1.1105.
Miembro desde Apr 08, 2014
posts 1141
Feb 04, 2016 at 08:46
Miembro desde Apr 08, 2014
posts 1141
Yesterday the EURUSD rallied again with a wide range and managed to close near the high of the day, furthermore closed above the previous day range, suggesting a strong bullish momentum.
The pair continues to close above the 10 and the 50-day moving averages that are acting as dynamic support, and closed for the first time in three months above the 200-day moving average.
The key levels to watch are: The daily resistance at 1.1236, the daily resistance at 1.1097, the 200-day moving average at 1.1028 (support), the 10-day moving average at 1.0874 (support) and the 50-day moving average at 1.0893 (support).
The pair continues to close above the 10 and the 50-day moving averages that are acting as dynamic support, and closed for the first time in three months above the 200-day moving average.
The key levels to watch are: The daily resistance at 1.1236, the daily resistance at 1.1097, the 200-day moving average at 1.1028 (support), the 10-day moving average at 1.0874 (support) and the 50-day moving average at 1.0893 (support).
"I trade to make money not to be right."
Miembro desde Oct 08, 2011
posts 137
Feb 04, 2016 at 13:27
Miembro desde Oct 08, 2011
posts 137
On January 6. I posted these signals off the weekly chart.
Weekly chart:
The weekly chart shows a price consolidation with currently 6 bars.
As I have written before, the 6th bar in consolidation is the most difficult to trade and should be avoided.
There are 3 legitimate MAJOR entry signals visible.
Buy-stop at the high from last week (1.0991 on our chart) plus 1 pip (ASK price)
Buy-stop at the high from 3 weeks ago (1.1058 on our chart) plus 1 pip (ASK price)
The low of 5 weeks ago is also a legitimate MAJOR entry signal as it is a down-hook. (1.0515 minus 1 pip BID price)
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Either one of the buy-stop entries would have worked and currently are about 200 pips plus.
If you read my entire posting from January 6. you will see that there was also a buy-stop entry suggested off the monthly chart.
It was a minor entry signal, but worked as one can see.
Now it is just a matter of managing the SL properly to maximize the trade's profit.
I also mentioned many times, that a price consolidation cannot consist of more than 10 bars.
This weeks bar is Nr. 10 and therefore the break could be traded legitimately.
The suggested sell-stop entry was never reached.
Major trade entry signals have a very high success rate, especially when using long-term timeframes, like daily, weekly and monthly charts. They are easy to trade, as there is plenty of time to place the trade.
A higher risk-factor can also be used with majors on long-term charts.
The simplest way to trade these trades is, to place the orders and just wait.
They are much more lucrative and require very little maintenance as compared to intraday charts, which are very time consuming to trade and at the end of the day there is hardly ever any monetary reward.
Weekly chart:
The weekly chart shows a price consolidation with currently 6 bars.
As I have written before, the 6th bar in consolidation is the most difficult to trade and should be avoided.
There are 3 legitimate MAJOR entry signals visible.
Buy-stop at the high from last week (1.0991 on our chart) plus 1 pip (ASK price)
Buy-stop at the high from 3 weeks ago (1.1058 on our chart) plus 1 pip (ASK price)
The low of 5 weeks ago is also a legitimate MAJOR entry signal as it is a down-hook. (1.0515 minus 1 pip BID price)
-------------------------------------------------------------------------------------
Either one of the buy-stop entries would have worked and currently are about 200 pips plus.
If you read my entire posting from January 6. you will see that there was also a buy-stop entry suggested off the monthly chart.
It was a minor entry signal, but worked as one can see.
Now it is just a matter of managing the SL properly to maximize the trade's profit.
I also mentioned many times, that a price consolidation cannot consist of more than 10 bars.
This weeks bar is Nr. 10 and therefore the break could be traded legitimately.
The suggested sell-stop entry was never reached.
Major trade entry signals have a very high success rate, especially when using long-term timeframes, like daily, weekly and monthly charts. They are easy to trade, as there is plenty of time to place the trade.
A higher risk-factor can also be used with majors on long-term charts.
The simplest way to trade these trades is, to place the orders and just wait.
They are much more lucrative and require very little maintenance as compared to intraday charts, which are very time consuming to trade and at the end of the day there is hardly ever any monetary reward.
"a little bit of knowledge is a dangerous thing"
Miembro desde Jul 10, 2014
posts 1117
Feb 04, 2016 at 15:42
Miembro desde Jul 10, 2014
posts 1117
The pair retraced back below 1.1200 and will probably continue falling towards 1.1160, but that move to the downside is likely only temporary.
Miembro desde Sep 12, 2015
posts 1948
Feb 04, 2016 at 18:55
Miembro desde Sep 12, 2015
posts 1948
Things look pretty crap for USD,Draghi will have to talk down the Euro next week!
"They mistook leverage with genius".
Miembro desde Jun 08, 2014
posts 454
Miembro desde Apr 08, 2014
posts 1141
Feb 05, 2016 at 10:06
Miembro desde Apr 08, 2014
posts 1141
Yesterday the EURUSD continued the rallied but with a narrow range and managed to close near the high of the day, furthermore closed above the previous day high, suggesting a strong bullish momentum.
However it made a pause on mid-term resistance at 1.1236 possibly waiting for today’s nonfarm payrolls number.
The pair continues to close above the 10, 50 and the 200-day moving averages that are acting as dynamic support.
The key levels to watch are: The daily resistances at 1.1556, other daily resistance at 1.1460, daily support at 1.1097, the 200-day moving average at 1.1028 (support), the 10-day moving average at 1.0965 (support) and the 50-day moving average at 1.0910 (support).
However it made a pause on mid-term resistance at 1.1236 possibly waiting for today’s nonfarm payrolls number.
The pair continues to close above the 10, 50 and the 200-day moving averages that are acting as dynamic support.
The key levels to watch are: The daily resistances at 1.1556, other daily resistance at 1.1460, daily support at 1.1097, the 200-day moving average at 1.1028 (support), the 10-day moving average at 1.0965 (support) and the 50-day moving average at 1.0910 (support).
"I trade to make money not to be right."
Miembro desde Jul 10, 2014
posts 1117
Feb 05, 2016 at 14:12
Miembro desde Jul 10, 2014
posts 1117
The NFP pushed EUR/USD down and it will probably continue falling towards 1.1100. The question is whether this is the end of the move to the upside.
Feb 05, 2016 at 20:58
Miembro desde Nov 14, 2015
posts 325
It is likely not over, but one might write off the extreme upward movements. Unless there are some big surprises in the upcoming data from either US, Japan or Europe. Eyes will be on Yellen the 10. february, and next weeks jobless claims. Then we have eurozone GDP and US retail sales on Friday.
Miembro desde Jan 14, 2010
posts 2299
Feb 06, 2016 at 09:42
(editado Feb 06, 2016 at 09:45)
Miembro desde Jan 14, 2010
posts 2299
Lol, so, it did not go as I was thinking hence I am flat on eurusd. it is basically ranging but this can be a large move.
Miembro desde Jun 08, 2014
posts 454
Miembro desde Jun 29, 2015
posts 21
Feb 07, 2016 at 08:04
Miembro desde Jun 29, 2015
posts 21
@sherifFares yes there is the European economy is still going through QE and a strong euro hurts their economy it's not what Draghi is looking for, they will most definitely implement further QE measures.
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