Posts Tagged ‘Euro analysis’

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EURUSD Analysis

Monday, February 16th, 2009

In the last two weeks the Euro/dollar has been trading in range in between 1.2763 and 1.3073 a 310 pips range (blue lines) ‘boring don’t you think?’ Right now the market is trading just above the bottom of the range, which means the market could be reaching the top of the range in next hours/days.

So, here is the strategy for the EURUSD:

The trading scenario I favor: if the market keeps trading in between the mentioned range, I will try to look for long opportunities around 1.2763 (where it is right now), placing all take profit levels below the top of the range.

Other scenarios:

If the market breaks the bottom of the range, will look for short opportunities

If the market breaks the top of the range (1.3073), will look for long opportunities.

Good luck in your week!

RL

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Winds of Change

Monday, November 24th, 2008

I know… I know… some of you will say its to soon to say the market is on its way for a large retracement phase, but I think it will… take a look at the following chart:


That triangle is gone… usually triangles break in direction of the trend, but this wasn’t the case, it broke against it… Now, if you pay close attention there also another formation there… A double bottom (validated with the break of the main resistance line). So, from my point of view, this would be the start of a retracement phase, being 1.3346 our first target. Only time will tell…

We have several currency pairs in the same scenario, including: USDCHF, GBPUSD, GBPJPY, EURJPY, AUDUSD and USDCAD.

Good luck in your week!

Regards,

RL

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Euro update

Monday, November 3rd, 2008

As I pointed out in my last post, if the Euro broke the 1.2980 for the upside, it was likely to reach 1.3350… guess what, we missed our target for 50 pips, its highest point was 1.3297, anyway I hope you profit from that break out.

Now the conditions have changed a bit, it is trading below 1.2673 and entered the sell zone. So I will start looking for a short opportunity in the EURUSD targeting the bottom of the range 1.2360sh (blue rectangle). Be careful though, if the market trades again above 1.2673 all shorts must be closed and start looking for long opportunities.


Have a nice week!

RL

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Euro short term Outlook

Wednesday, October 29th, 2008

Now that the FED has cut interest rates to 1%, and the market digested that information calmly, we are free to resume our trading (I was thinking, if the FED didn’t cut by half a point ‘as expected’, we were going to see how volatile the market could turn, but that didn’t happen so I’m going to stop writing about it :) ).

Anyways, this is what I think the Euro could behave in the following days:

Euro analysis

Euro analysis

If the market breaks 1.2980 for the upside, it is likely to continue its way up to 1.3350, but if it bounces back, a range is more likely.

Good luck!

RL

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