February 2013 Blog Posts (29)

EUR/USD: consolidation in downtrend

Eurodollar has fallen to a natural support and resistance level and it has started to form a sideways consolidation. There is a possibility it could be a flag and if so then the flag pole extrapolated down could give a target at 1.3240.The H&S top at the highs could also yield a target at a similar level. Alternatively, given the pair is now edging up, if it continues it could reach 1.3470 first and then possibly 1.3500 where…

EUR/USD: possible uptrend resumption

The EUR/USD pair has spiked higher this morning and will probably continue. An initial target would be at 1.3655 followed by the 1.3715 highs. The move may be signalling a resumption of the up-trend, however, it is a little early to say, as much volatility is expected latter when the ECB releases its rate decision at 12.45 GMT. Alternatively a break of the neck-line at around 1.3470 could signal an extension of the bearish…

EUR/USD: technical update

EUR/USD has weakened this morning and if it continues lower it will reach the key trend-line at 1.3480-5 and begin to resemble a head and shoulders pattern, with a neckline at 1.3475 and downside target at 1.3230. The overall trend is still up, however, and the current bear move has retraced 61.8% of the previous rally so there is also the possibility of a rally higher from here, with an upside target at 1.3655.…

EUR/USD: correction extends

The pull-back in eurodollar continues and given there is no sign of reversal – in fact the down-move looks like it is strengthening – it will probably extend. A possible downside target would be the monthly pivot situated at 1.3390, which is further bolstered by a support and resistance line at the same level. Overall the mid-term trend remains up, however, and will probably resume eventually.…

Super Bets

Over 150 million people watched the super bowl last night and we can only guess how many people had wagers on everything from the final score of the game to whether or not Alicia Keys was lip synching during the national anthem.

Superbowl Sunday is a fabulous time to be an odds maker as they will make money no matter who wins. But what if they booked bets on the market? Even with the benefit of hindsight, it may be not be such a great proposition.

Think…

Secret Trading Tip #5

Knowing your way around a chart

For most traders, charts are like their road maps to potential trades. Technicians see potential patterns, key clues that they interpret for trading opportunities. Fundamentalists see confirmation of news stories or supply and demand dynamics playing out in the price fluctuations. Charts are indispensible to traders

Understanding what a chart is telling you is paramount for traders

We are going to…

EUR/USD: rallying

The EUR/USD pair is in a strong uptrend which will probably continue higher, with the next target at 1.3785 where the monthly pivot and the target from the trend-line break are situated. The 1.3540 trough low is key and would have to be breached for confirmation of more bearish action with a major support level situated at 1.3400.…