Hi traders! We were looking for a short on this pair at the 1.052 resistance figure and unfortunately we got stopped out due to this enormous volume spike. We had out stop loss in place so nothing wrong with taking the loss, but this is a great example of why we should avoid trading on days of low volume. Today is the last trading day of 2016... with most...
The 1.048 figure had me thinking price would not get up into the 1.0506-1.052 resistance zone, but this sharp up move has changed everything. If I see a push into the resistance zone I will be looking to get short using a 40 pip stop loss. As always look to get whatever you can on the profit side... even if that means 10-20-30 pips... if it gives you...
Strong bearish trend New trench created, short upon RT back to trench Key Resistance - 1.06250 - 1.08
Yesterday's short-term technical outlook: Price did not make it up to the preferred shorting area as mentioned in our previous short-term technical outlook. Sellers came in quickly off the 1.048 resistance level. With the downside pressure resuming we can expect to see sellers in control as long as price remains below the 1.048 figure. That being said,...
Hello Traders! With the 1.048~ resistance level holding very firmly after the 1.05 spike high we are now seeing a significant sell-off. Bias is to the downside now and shorting opportunities are preferred as long as we remain below 1.05. There is strong support at the 1.0335 figure which marks the 2003 low that needs to be broken for continued weakness on this...
Yesterday's short-term technical outlook: With the 1.0424 support figure holding and the previous swing high being taken out we are expecting to see a swift push up into the 1.05 resistance area. There is official institutional resistance at 1.0507 and 1.052 so we are anticipating pending short orders in that zone. A swift push up into the resistance area...
Hello traders. I am still awaiting a push up into the 1.052 institutional resistance figure on this pair. If I do see a push up into the figure throughout the week I will be looking to get short with an order at 1.051 and a 40 pip stop loss. As always look to get whatever you can on the profit side. Enjoy!
It looks like price has made an Expanding Flat which can only be confirmed once price reaches the low. Moving up the timeframe to the 240 mins shows a gang of wicks at the "Rejection Area". That being said, selling after the break of the line is not a bad idea. Trade with care. Use a strategy you have tested and verified. 6.1.8. Family. More Than Just Trading.
Previous short-term technical outlook: Since the previous short-term technical outlook the spike high at 1.05 remains keeping buyers in check. It now marks our first short-term institutional resistance. Below the 1.05 figure and below this swing high at 1.047 we can expect to see further downside. First institutional support is at 1.0424. A break below the...
Hello Traders, As the Fed decides to raise rates we must look at the long term effect this will have on the market. In EURUSD for example a break of 1.04624 gives way for bears to take control of this pair. If and only if there is a break across and a close across 1.04624 will I consider taking a short for this pair. At the very least it will have to happen on...
First of all... MERRY CHRISTMAS & HAPPY HOLIDAYS to all of you traders! I hope you all enjoy the weekend and have great times with your friends and family! Focus on what is important and enjoy the time away from the charts. Come back next week feeling refreshed and ready to make money! Review today's short-term technical outlook: We are clearly still in a...
Yesterday's short-term technical outlook: As mentioned yesterday, the 1.052 figure is the first major key institutional resistance to watch. It represents the "line in the sand" in that if price remains below it we should see up moves faded by institutional sellers. Today's spike high at 1.04992 gave us a very good insight into what smart money is doing. It is...
Good morning traders. Technical outlook I posted last night: At 08:30 EST there is a list of medium/high impact economic data coming out from the US which includes: Chicago Fed National Activity Index (Nov) Initial Jobless Claims (December 16) Gross Domestic Product Price Index (Q3) Personal Consumption Expenditures Prices (QoQ) (Q3) Durable Goods...
Good evening traders. After EURUSD forming a nice double bottom just ahead of the 14 year low, we have been seeing a decent pullback on this pair. The pressure is still definitely to the downside as long as we remain below 1.052 so looking for shorting opportunities is preferred. The latter will act as the "line in the sand", if you will, in that if price manages...
Good morning traders! With the EUR growing some legs yesterday we are nearing some decent resistance. The 1.048 figure could be a good place to get short as you can clearly see it was a level respected on both sides in the last few days. Beware though of the 1.052 figure, which is even stronger resistance. Shorting at 1.052 is a more conservative play, but at the...
Hello traders! We just got an update from our institutional research that suggests we should expect to see continued downside on EURJPY. We got short during the London session last night just ahead of this 122.57 figure at 122.5. We had an opportunity to lock up about 25 pips of profit, but given the institutional research we are going to hold. With this pullback...