Archive for 'Forex Signals'
LegacyForex – Woth a look
Posted on 06. May, 2012 by Moderator.
The other day I stumbled upon Legacy Forex, a forex signal service which is receiving fairly good reviews around on the net. What is interesting about LegacyForex is that they verified historical performance shared via MyFxBook – This is a rarity as these services more often than not, cannot live-up their own promises.
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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 – AUD/JPY Coming Close to 90.00
Posted on 20. Mar, 2012 by Jakob.
With a massive bull-run over the last couple of weeks, AUD/JPY is currently trading at the 88.20 mark, quickly getting closer to the 90.00 level. Now for those trend-following traders out there, this will probably look like a very bad idea, but the 90.00 level is clearly a key level in terms of historical support and resistance; I believe this might be a good place to look for a possible short trade, and if nothing else, at least a good level to close your current long positions if need be.
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Trading Forex – 1.3270 Holds for Now
Posted on 19. Mar, 2012 by Jakob.
EUR/USD continued to move higher throughout the day, giving us a daily high of 1.3270 so far. This is a key level when looking both at the 4-Hour chart as well as the daily chart. We have no more news coming up today, and with the recent massive move to the upside, I think this level is very likely to hold as resistance for the rest of the day. We are likely to see a possible re-test of the level and maybe a small break to the upside, but I don´t think we will see any major followthrough for the rest of the day. Hence I think there might be a good reason to look for a possible short trade, followed by a long trade at a re-test of the 10 and 21 EMA.
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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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zenfx: 90 is clearly a strong level in AUD/JPY, however I...
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Charlie Clemett: We are still not able to connect with our IPhones ...
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Cliff: Just got an unauthorized charge on my MC from Glob...
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Andy: We have also been using PivotFarm now on our chart...
