Igal Stophner's Blog – March 2011 Archive (13)
Signal Trader.com - EUR/USD Daily Outlook, Mar 31, 2011
As we predicted, yesterday provided a great long opportunity on EUR/USD. Our levels to enter long positions were accurate and provided us with more than 100 pips for each position. The trend remains bullish. We are clearing part of the position at the current level of 1.4185, as it is very close to our first target of 1.42-1421. The stop loss for the remaining positions was moved up to… Continue
Added by Igal Stophner on March 31, 2011 at 11:43am — No Comments
SignalTrader.com - EUR/USD Daily Outlook, Mar 30, 2011
Yesterday, the bullish momentum was blocked at 1.415. The pair was hovering around 1.41 and eventually dropped 50 pips to find support at the lower band of the channel.
From the technical aspect – we see a good long opportunity at these price levels.
First, the lower band of the channel succeeded in blocking latest downward moves.
The pair found its immediate support on it at the end of the Asian session…
Added by Igal Stophner on March 30, 2011 at 9:14am — No Comments
SignalTrader.com - EUR/USD Daily Outlook, Mar 29, 2011
As we predicted yesterday, the downward momentum was blocked at the lower band of the channel and EUR/USD rebounded more than 100 pips since yesterday's low. We are still in long positions, which were opened yesterday at 1.404-1.405. Stop loss for these positions are at 1.408. Short term bias is Bullish.
Looking at the Daily chart – the stochastic oscillator indicates that the upward trend has just started to…
Added by Igal Stophner on March 29, 2011 at 9:15am — No Comments
SignalTrader.com - EUR/USD Daily Outlook, Mar 28, 2011
During the Asian session, EUR/USD touched the lower band of the upward channel and bounced back toward 1.4075.
Although the short term downward momentum is still alive, we are very cautious with taking short positions.
The lower band of the channel, as well as the 1.403-1.404 support area, are inviting us to take a short term long positions, with a tight stop. However, we will wait for a pull back before…
Added by Igal Stophner on March 28, 2011 at 7:40am — No Comments
Signal Trader - EUR/USD Daily Outlook, Mar 24, 2011
As we predicted yesterday, the downward momentum continued and accelerated. EUR/USD rebound attempts were blocked exactly at the resistance area we mentioned of 1.4215. Once again, the RSI 70 level blocked the bullish momentum and after hovering around 1.42 the pair lost 150 pips. The pair is very close now to the next support of 1.404-1.405. Therefore, we just took profits at 1.4055 and we are waiting for either…
Added by Igal Stophner on March 24, 2011 at 8:19am — No Comments
Signal Trader - EUR/USD Daily Outlook, Mar 23, 2011
The upward momentum, which accelerated by breaking above 1.42, was blocked at the resistance area of 1.425. The pair consolidated at 1.423-1.424 and finally bounced toward 1.415.
Once again, the 70 level of the daily RSI, which indicates entering overbought levels, was not breakable.
In the last 3 times such occurred, the pair lost 200-300 pips (we marked these occasions on the Daily chart). Thus - a…
Added by Igal Stophner on March 23, 2011 at 8:30am — No Comments
Signal Trader - EUR/USD Daily Outlook, Mar 22, 2011
Yesterday, EUR/USD broke above the resistance of 1.42. This is a significant Bullish sign and was a signal to enter long positions.
Its short term bias is Bullish. The immediate target is the 14-month high of 1.4281.
A break above 1.428 will be another bullish sign, which will make the target for the pair at 1.45.
However, the area between 1.426 and 1.428 is full with resistances. Therefore – some of the profits should be taken at that… Continue
Added by Igal Stophner on March 22, 2011 at 8:35am — No Comments
Signal Trader - EUR/USD Daily Outlook, Mar 21, 2011
EUR/USD broke above the significant resistance of 1.404 on Friday.
As we wrote last week, a break above 1.401 is a significant bullish sign, and indeed the pair gained almost 200 pips after breaking it. It was blocked earlier today, during the Asian session, near the 1.42 resistance level.
Its short term bias is Bullish. However, the RSI on the Daily chart is approaching overbought level.
Therefore,…
Added by Igal Stophner on March 21, 2011 at 8:01am — No Comments
Signal Trader - EUR/USD Daily Outlook, Mar 17, 2011
ContinueTechnical Overview:
EUR/USD continues to move between the bands of the channel. For the third consecutive day, the lower band, which rises each day by approximately 15 pips, supports and holds any break down attempt. As for today the lower band of the channel is at 1.389.
Our trading bias for today is neutral. We will wait for a break below the lower band of the channel to enter short…
Added by Igal Stophner on March 17, 2011 at 6:00am — No Comments
Signal Trader - EUR/USD Daily Outlook, Mar 16, 2011
EUR/USD continues to move between the bands of the channel. Yesterday, the pair reached our first target of 1.386, exactly at the lower band of the channel and bounced back 150 pips toward the significant resistance area at 1.401.
Half or our short positions was closed at 1.386 and the second at our stop loss of 1.3965.
Our trading bias for today is neutral. We will wait for a break below the lower band of…
Added by Igal Stophner on March 16, 2011 at 6:43am — No Comments
Signal Trader - EUR/USD Daily Outlook, Mar 15, 2011
Very volatile morning for the EUR/USD after Japan’s Nikkei tumbled and increased uncertainty and volatility of all financial markets.
Our SHORT positions from yesterday are still alive.
EUR/USD almost reached our stop loss at 1.401, but failed to do so, which resulted in a 100 pips downward move.
Therefore, our first target of 1.39 was reached.
Our trading bias is still SHORT and we believe the…
Added by Igal Stophner on March 15, 2011 at 7:14am — No Comments
Signal Trader - EUR/USD Daily Outlook, Mar 14, 2011
The week started with a nice gap up. We believe that the market will close this gap and we see this gap as an opportunity for SHORT positions. As you can see on the daily chart, the pair is moving within the channel and we believe it will go down toward the lower band.
Therefore, our short term target is at 1.386
Trading Idea:
Best levels to enter SHORT positions are anywhere between 1.395 and 1.397.
First target is closing the gap at… Continue
Added by Igal Stophner on March 14, 2011 at 9:52am — No Comments
Signal Trader - EUR/USD Daily Outlook, Mar 10, 2011
As we predicted yesterday, the short term long at 1.385 with the target of 1.391-1.393 was just accurate. A nice move of between 50 and 60 pips.
This morning, toward the end of the Asian session, the pair broke the crucial support at 1.385. Therefore, we are now looking only for SHORT positions.
Looking at the Daily chart, EUR/USD short term downward momentum has accelerated and the immediate target is 1.378 – the lower band of the equidistant… Continue
Added by Igal Stophner on March 10, 2011 at 8:20am — No Comments
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