Archive for 'Daily Outlook'
Trading Forex – EUR/USD Waiting for a break of 1.300
Posted on 06. May, 2012 by Moderator.
With the recent NFP release, the direction of EUR/USD is still not completely clear. Overall I think we are likely to see the pair continue lower from this point, but we do have the 1.3000 key level just 80 pip lower than current market rate, which is why I would be careful jumping into a short trade at the beginning of the week. In addition to this, the pair is currently trading right at the ascending trend line, which is a level that could give us a bounce.
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Trading Forex – EUR/USD and LTRO
Posted on 29. Feb, 2012 by Jakob.
In recent weeks we have seen a rally on EUR/USD of close to 900 pips in total. The pair currently trades around the 1.3470 level. Usually I would wait for pullbacks and trade in the direction of the trend at a test of the dynamic support in-between the 10 and 21 EMA. Today might be slightly different thought. With today’s upcoming LTRO we could see some very volatile moves in the market, and there could be good reasons to look for possible short trades on EUR/USD
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GBP/USD Breaking the Neckline
Posted on 10. Feb, 2012 by Jakob.
Cable has been trading in a strong bullish trend almost for a month now. The bullish trend has been trading higher in a fairly tight channel, which was broken yesterday indicating possible downside. In addition to this, the pair crossed the two EMA´s I monitor on the 4-Hour chart, which give us another indication. Another thing to note on the 4-Hour time frame, is the skewed head and shoulder formation, where the neckline just got broken to the downside as well.
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Trading Forex – EUR/USD Ready for Further Downside
Posted on 20. Jan, 2012 by Jakob.
Trading Forex – Market Outlook for January 20th 2012. EUR/USD has been trading higher all week long. It has surged from a low around 1.2620 on Monday to a new high today around the 1.2970 level. This is a move of more than 300 pips to the upside which without a doubt will make a lot of trades question new lows in a near future. There has been a lot of buzz that traders should now start to look for long positions on this particular pair. I think the move up we have seen this week is nothing more than a pullback due to profit taking. Since the end of October 2011, the pair has plummeted by more than 1500 pips so a pullback is only a natural reaction to such a massive move.
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EUR/USD and Non Farm Payroll
Posted on 05. Jan, 2012 by Jakob.
Going through the different time zones on a chart can be a really healthy choice every now and then; this is specially true if you have been starring at the 5-minute chart all day long. Yesterday we have had a really good move down on EUR/USD and today we will get the first Non Farm Payroll numbers for 2012 which could cause some volatile moves in the market, so make sure to play it safe.
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Trading Forex – Perfect Trade but Still in Range
Posted on 06. Dec, 2011 by Jakob.
In yesterday’s post Trading Forex – EUR/USD after NFP I mentioned a good possible short trade on EUR/USD around the 1.3460 level if we got a 4-hour reversal candlestick formation. We got a perfect formation, close to a pin-bar and I took a short trade at the close of the 4-hour candle with an entry at 1.34628 with an initial 50 pip stop loss. The trade is currently 90 pips in profit and I am keeping a close eye on this trade around London open. Post a comment below if you had a chance to get in on this trade.
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Trading Forex – EUR/USD after NFP
Posted on 05. Dec, 2011 by Jakob.
The latest trade I mentioned was back on Thursday December 1st, where I wrote a blog post saying there was a good possible trade on EUR/USD if you took a long around 1.3450 with a 50 pip stop loss. If you took this trade, you should have been able to grab close to 100 pips in total.
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Trading Forex – EUR/USD Massive Correction
Posted on 01. Dec, 2011 by Jakob.
In yesterday’s post Trading Forex – Perfect 1.3440 Re-Test, I mentioned the possibility for a short trade, and early in yesterday´s London session, I took a short trade with a 50 pip stop loss. The trade came up to around 60 pips of profit, so hopefully those of you who were in on the trade had a chance to move stop loss to break even. Once news hit the wire about the coordinated action from central banks, I got stopped out at break even. Yesterday’s price action is a perfect reminder that we should always make sure to have a stop loss in place when taking any trades.
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Trading Forex – Perfect 1.3440 Retest – Now What?
Posted on 29. Nov, 2011 by Jakob.
For those of you who read today’s outlook had an idea I was looking for a possible short around the 1.3440 level. Unfortunately I wasn’t able to place a trade today once the level was reached but if you did, this would have been close to a perfect trade. The level was spot on as solid resistance, and the pair is now trading back down at the 1.3330 level. So basically the pair is right back at the same level as where it started the day. So where do we go from here?
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Trading Forex – A bit of Possible Upside
Posted on 29. Nov, 2011 by Jakob.
In yesterdays post, I mentioned a possible setup for a short trade. We took a short trade at 1.3374 and if you got in on this trader, there was a possibility to grab around 90 pips in total. As we did have an initial 50 pip stop loss, I was hoping for a bit more and chose to move my stop loss to break even, but we had a strong pullback during the Asian session, and the trade is now close to the entry level. I hope you had a chance to grab some pips from this trade.
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