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Forex technical analysis at EUR/USD Chart Predicts Downtrend
Technical analysis in currency trading shows signals for downtrend at the EUR/USD chart. Interactive Brokers forex trading platform can draw daily bars at the EUR/USD chart back to 2 years and that is sufficient to point out the upwards trend line that was broken in September. Since the EUR/USD uptrend ended in summer 2011 and sellers took control of euro, trading currency with forex trading tools [...]
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Euro sinks despite Berlusconi departure
Posted by Tristan Goldthorpe on November 10, 2011 · 0 Comment
Even after today’s announcement of Silvio Berlusconi’s resignation, Euro markets moved considerable lower. This indicates that the market is still highly cautious of Europe’s precarious position and risk aversion still exists on a large scale. The higher yielding currencies made a considerable move lower and those positively correlated to the EUR/USD such as the AUD/USD took the majority of [...]
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EUR/USD Reversal at Crucial 1.4250 Level
EUR/USD is trading below 1.4250 today. Euro has met resistance during the recent uptrend at 1.4250, a major support and resistance level which has been a reference level for the most popular currency pair in the last 5 years. About 8 times EUR/USD has either found support or resistance at that specific level over that period, making it a very significant level to watch out for during forex trading. [...]
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Swimming the forex channel
Posted by Tristan Goldthorpe on October 19, 2011 · 0 Comment
Price, like people, never wants to be stuck in the middle of a channel. It prefers to reach the shore despite the fact that is never allowed to touch dry land. Channels in forex are like the impenetrable coastlines of two right-wing nations, they force price to limbo between them until desperation compels a breakthrough of the resistance. Aptly, the Australian dollar is currently providing an excellent [...]
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Euro Takes a Breather After Dampening Merkel Comments
Posted by David Becker on October 18, 2011 · 0 Comment
The dollar was able to regain some of its recent losses after German officials dampened expectations for a solution to the eurozone crisis at this weekend’s EU summit. G20 Finance Ministers commented that they believe this weekend’s EU summit to deliver a comprehensive plan to deal with European fiscal measure and the ESFS. Many investors are focused on the details of a European bank recapitalization [...]
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Euro rises and heads for 1.4000
Posted by Tristan Goldthorpe on October 14, 2011 · 0 Comment
The heavy selling of the euro over the past few weeks seemed to have found a level of support today as traders sought to gain from the discounted rate versus the dollar and instil a degree of confidence in the European Commissions road map to Eurozone stability. The bounce, however intermediate, looks set to be with the heavily-beaten currency for at least the remainder of the week according to some [...]
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EUR and the AUD searching for a bounce
Posted by Tristan Goldthorpe on October 4, 2011 · 0 Comment
As expected, the commodity currencies continued to fall today as the Greek default became a reality and markets became nervous as to who was going to be left holding the baby. The question of how to absorb the Greek debt has become a tussle between bondholders and European governments, neither of which wants to be left with the lions share. Despite this, the euro which has been heavily sold over the [...]
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AUD/USD heading lower?
Posted by Tristan Goldthorpe on September 28, 2011 · 0 Comment
The Australian dollars love affair with gold is about as public as they get. Over the past two years they have experienced the most extraordinary rise, hand-in-hand as the hysterical demand for gold pushed it to $1900 levels. Australian mineral wealth has always been central to the country’s economic expansion but the unprecedented boom that both the gold rush from crisis-battered investors in the [...]
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Can a Trending Channel be Trusted in Forex?
EUR/USD trending channel allows forex traders for safer trading nowadays. Or maybe not? A trending channel helps defining stop losses and profit targets while trading popular currency pairs such as Euro, Yen or Pound against the US dollar. On the other hand, if trading a forex pair inside a channel is such an easy task, why everyone doesn’t do it profitably? One reason is that most traders aren’t [...]
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EUR/USD Chart Analysis: Pivot Points and MACD as Support Level
Posted by Jim Makos on June 16, 2011 · 2 Comments
MACD divergence in addition to S1 Pivot Point provided an excellent support level for EUR/USD in the hourly forex chart. Technical analysis in forex trading pointed out a great entry point for forex traders to bet on the retracement of the currency pair after a 7-days decline. Any trader buying Euros at 1.4075 has already made about 100 pips profit or $1,000 for each traded lot, but Euro might retrace [...]
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EUR/USD Overnight Trading Wins 100 Pips
Posting the triangle breakout of EUR/USD 15-minute chart at my Facebook fan page yesterday hopefully helped some traders to gain almost 100 pips in overnight forex trading. The currency pair climbed to 1.44 during the night (European time) and is now trading around the R2 pivot point, after bouncing off the middle pivot point of the day at 1.43. EUR/USD is trending upwards the last months and the triangle [...]
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Trading Inside an Open Trade
Posted by Jim Makos on January 5, 2011 · 9 Comments
I posted earlier about my profitable EUR/USD trade but that didn’t stop me from continuing trading the forex market. Once again I opted to short sell the same currency pair at a major resistance level, only this time I traded 2 lots instead of 3 in comparison with my previous trade. I should remind that I haven’t yet traded out the remaining 50K I had sold at 1.32850, which have already made more [...]
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Making Money Trading EUR/USD in 20 Minutes
Posted by Jim Makos on January 5, 2011 · 5 Comments
This morning I traded the forex market making $350 in 20 minutes, while I am still short half a lot, in case EUR/USD currency pair breaks below the daily S1 pivot point. This trade is a fine example why we need to pay attention to important support and resistance levels and how scaling out our position is an effective way to exit. Trading EUR/USD in the 1-minute forex graph while pinpointing crucial [...]
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Forex Charts: The Heart Of Making Fortunes
Posted by Jim Makos on October 19, 2010 · 11 Comments
The forex market plays a major role in the life of investors looking to make a fortune from the swings in the currency market. A forex market undergoes change every second of the day based on a plethora of conditions and situations. Based on the intricacies of various contributors, the forex market value for a certain currency is determined. It is a tough task to predict the mood swings in the market [...]
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Trading EUR/USD: 40+ pips profit in 30 minutes
Posted by Jim Makos on October 11, 2010 · 24 Comments
EUR/USD has hit a resistance level nowadays and I decided to short it in the 2-min chart an hour ago, when the currency pair price hit the upper Bollinger Band. Keeping an eye on the hourly chart where daily pivot points are visible, I am targeting a bigger profit than the currently 40+ pips. I am looking at take profit exit point at around 1.38500 and having moved my stop loss at 1.39100, I have secured [...]
Filed in: Forex Charts
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Jim Makos: Also true! I should have included that in the text! Thanks for c...
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Papanikolaou George: also most of the times such big bets are not gambles nor smart mo...
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