EUR/USD Short Sell Setup

Before the market opens at 5pm, I took a look at the EUR/USD to see what type of action is going on. From the chert below, you can see that the MACD has switched positions and the trend is turning bearish. It has tested the Tenken-San and shows that it’s ready to descend that hill like a bear looking for his next meal. Price before opening is at 1.34852. Let’s see how much profit we can take this week.

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The Dollar Consolidates Its Comeback – EUR/USD Closes Under 1.3500

A number of factors helped the USD comeback from its downward spiral: 1. The less than soft comments from the Fed with a remote possibility of starting QE cuts as soon as December; 2. The ECB downplaying the Euro as market it now pricing further stimulus from Draghi; And 3. Not bad economic data in China and the since April 2011 ISM manufacturing index.

This is the euro worst week of closing against the US Dollar since June 2012 after losing about 310 pips or 2.3% from the 1.3800 level to end the week at 1.3490.

On the technical side, October 27th marked an area that had strong resistance for an upward trend and showed signs of shadowing in the day chart below.

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If you went to the 4 hour chart at 5pm when market opened on Sunday, you would have notice that the MACD had crossed which represents a new trend formulating, and that should have given you time to make a decision on whether to stay in the trade long, or make a short entry.

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It’s a good rule of thumb to pay attention to all the signal including updated news to see where you can take a profit or avoid losing it.

November 1st Profits and Losses

Well, as the day winds down and trading is coming to a close for the weekend, I’m not doing to shabby at 123 pips profit. The EUR/USD is still fighting my bearish entry and will start to see signs of downward activity on Sundays opening. Besides the USD/CAD, everything else has started to move in the direction I predicted and analyzed. Leaving everything open over the weekend. Hope you have a great weekend, I know I sure will. Going to the boat show to look at some yatchs.

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Great day today! Big gains

Today was a very good day of trading for me. Closed the day out with 274 pips which is a tremendous feat. Setting up a strategy for tomorrow’s mix.

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EUR/USD Rallying 9-25-13

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Hi guys. Here’s my setup for the EUR/USD for the remainder of the week. As you can tell from the RSI, it’s gaining strength and price is starting to rallying upwards. This is not going to be a long term effect though so expect it to keep being bullish for the remainder of the week. Next week is a different story though. Price should start to stall a bit because of being overbought so know where to exit and it should work out fine.