Igal Stophner's Blog (25)
SignalTrader.com - EUR/USD Daily Technical Outlook - Apr 28, 2011
EUR/USD set a fresh 5-month high earlier today after the historical press conference of the FOMC yesterday.
From the fundamental point of view we think that the weakness of the USD is about to end. From the technical point of view we can see that the pair is way overbought.
On the Daily chart, the pair successfully reached the top band of the upward channel at 1.4883 before retreating 40 pips to its…
Added by Igal Stophner on April 28, 2011 at 8:22am — No Comments
SignalTrader.com - EUR/USD Daily Technical Outlook - Apr 26, 2011
After setting a new 4-month high on last Thursday, EUR/USD price is moving between 1.45 and 1.46.
The medium term technical outlook is bullish. The short term technical picture is mixed.
On the Daily chart, the pair successfully returned into the upward channel and the moving averages are still arranged in a bullish structure.
On the Hourly chart the pair is hovering around the blue band,…
Added by Igal Stophner on April 26, 2011 at 6:44am — No Comments
SignalTrader.com - EUR/USD Daily Technical Outlook - Apr 20, 2011
In the last 2 days, EUR/USD tumbled more than 300 pips just to recover more than half of the loss, gaining more than 200 from the bottom. This technical behavior may signal one of the two: either the bearish short term momentum was a clear first sign of a medium term trend reversal or it was a psychological selloff, providing a good opportunity to go long. Should it is real – then the current rebound of the pair is…
Added by Igal Stophner on April 20, 2011 at 4:56am — No Comments
SignalTrader.com - EUR/USD Daily Technical Outlook, Apr 18, 2011
EUR/USD started the week with a massive selloff, pushing its price toward the significant support at 1.435, which held the bearish momentum for now. On the daily chart - the pair continues to move between the bands of the upward channel. The bulls came, once again, at the lower band of the channel, pushing the pair price a bit up toward 1.438.
The RSI indicator is no longer at overbought levels.
On the…
Added by Igal Stophner on April 18, 2011 at 6:42am — No Comments
SignalTrader.com - EUR/USD Daily Technical Outlook, Apr 14, 2011
The technical picture of EUR/USD for today is mixed. On the very short term it is still looking bullish but there are more and more signs that suggest a correction toward 1.43-1.435 before deciding whether the rally will continue or not.
On the daily chart - the pair continues to move between the bands of the upward channel. Some major technical indicators are at overbought levels.
Both CCI and Stochastic…
Added by Igal Stophner on April 14, 2011 at 8:18am — No Comments
SignalTrader.com - EUR/USD Daily Outlook, Apr 13, 2011
Our trading idea from yesterday was accurate and provided the ones who followed it with more than 100 pips.
The technical picture for today is mixed. On the daily chart the pair continues to move between the bands of the upward channel. Some technical indicators are at overbought levels.
Yet, on the 30-minute chart we recognize a good opportunity for a significant short term rally.
The middle blue band…
Added by Igal Stophner on April 13, 2011 at 7:14am — No Comments
SignalTrader.com - EUR/USD Daily Outlook, Apr 12, 2011
EUR/USD technical analysis picture is mixed. After the huge rally of last week, the bulls took a short break and the bears took advantage of it, pushing the pair price down toward 1.44.
Looking at the Daily chart we can see that the pair is still moving between the bands of the upward channel. The RSI indicated yesterday overbought levels and indeed the pair retreated 100 pips from its current rally peak,…
Added by Igal Stophner on April 12, 2011 at 5:50am — No Comments
SignalTrader.com - EUR/USD Daily Outlook, Apr 11, 2011
EUR/USD technical analysis picture is mixed. After a huge rally last week, the pair is hovering around 1.445. Looking at the Daily chart we can see that the pair's price is still moving between the bands of the upward channel. Yet, the RSI indicates overbought levels. Looking at the 30-minute chart, the picture is bullish. The pair rally was blocked at the top red band, and now it is consolidating around the middle…
Added by Igal Stophner on April 11, 2011 at 1:24pm — No Comments
SignalTrader.com - EUR/USD Daily Outlook, Apr 7, 2011
EUR/USD rally continued and accelerated yesterday, surpassing our target of 1.431, in which we cleared our long positions. The bears finally succeeded in blocking the rally at 1.435. You can see this battle and victory of the bears clearly on the 30-minute chart (the red band). At the current levels our short term bias is neutral. Ahead of the ECB rate decision, in which the European central bank is expected to…
Added by Igal Stophner on April 7, 2011 at 7:56am — No Comments
Signal Trader - EUR/USD Daily Outlook, Apr 6, 2011
Yesterday, we marked the area between 1.417 and 1.419 as a good area to enter long positions. There was a massive attempt yesterday by the bears, which was blocked at around 1.415, far enough from our stop loss. The bulls won that battle and the price soared toward 1.428. We are closing half of our long positions at the current level of 1.427. The target for the second half is at around 1.431. Stop loss for the…
Added by Igal Stophner on April 6, 2011 at 7:23am — No Comments
SignalTrader.com - EUR/USD Daily Outlook, Apr 5, 2011
After failed in breaking above the resistance of 1.426, EUR/USD is consolidating around 1.4175, its current critical support level. Looking at the daily chart, the lower band of the upward channel, which supported the bullish trend in the past 2 months, is at 1.4165.
In addition, looking at the 30-minute chart, we can clearly see that the pair is hovering around a major support. Its short term resistance is at…
Added by Igal Stophner on April 5, 2011 at 8:41am — No Comments
SignalTrader.com - EUR/USD Daily Outlook, Apr 4, 2011
EUR/USD is starting the trading week on an important price level. On Friday, once again, the bears were defeated by the bulls, which stood at the 1.404-1.406 level and blocked any break down attempt. The trend reversed and the rally was fueled by massive short covering pushing the pair to close near 5-month high.
This morning during the Asian session, the pair tested the next resistance level at 1.426-1.427 and…
Added by Igal Stophner on April 4, 2011 at 7:38am — No Comments
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
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