Signal Trader - EUR/USD Daily Outlook, Mar 15, 2011
Technical Overview:
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 downward momentum will accelerate later on this week.
Trading Idea:
Best levels to increase SHORT positions are anywhere between 1.391 and 1.394.
First target is the lower band of the channel at 1.386
Second target is around 1.371
We are moving our stop loss higher and place it at 1.3965. Long signal will be only by breaking above 1.401.
Analysis by Signal Trader – the leading solution for Automated Trading. Autotrade on Forex, Indices and Commodities
RISK WARNING: Trading foreign exchange (“Forex”), Commodity futures, options, CFDs and SpreadBetting on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial adviser if you have any doubts.
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 downward momentum will accelerate later on this week.
Trading Idea:
Best levels to increase SHORT positions are anywhere between 1.391 and 1.394.
First target is the lower band of the channel at 1.386
Second target is around 1.371
We are moving our stop loss higher and place it at 1.3965. Long signal will be only by breaking above 1.401.
Analysis by Signal Trader – the leading solution for Automated Trading. Autotrade on Forex, Indices and Commodities
RISK WARNING: Trading foreign exchange (“Forex”), Commodity futures, options, CFDs and SpreadBetting on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial adviser if you have any doubts.
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