Archive : Forex Signals

EUR/USD tested the resistance level of yesterday’s pivot point at 1.3242 before falling down to the S2 pivot point for a 200 pips’ decline, hitting the low at 1.3009. The breakout pattern at the 15-minute forex chart was the signal that triggered my trading order and I was short EUR/USD in the middle of the day at 1.3158. Twenty minutes later I was scaling out 80% of my position buying 80,000 [...]

Despite the news that Berlusconi may survive after today’s vote of support the Euro held reasonably steady. The vote, which he won albeit by losing a large margin of power, was less of a referendum on the single currency but more of refection of the emotional state of a nation staring over the cliff. The fact that the Euro has remained essentially range-bound over the past few days is the anticipation [...]

Over the past 10 days EUR/USD has declined 1,000 pips from 1.45 to 1.35, which is considered the largest range of the currency pair. Whenever Euro climbed or dipped so many pips before, a retracement or correction took place short term. That is why my prediction about EUR/USD is a short term gain the following days and I am looking to trade long the forex pair. I predict a short-term uptrend up to [...]

A Triple Top at yesterday’s EUR/USD chart was proven a false forex signal when I shorted Euro. Trading the popular currency pair during morning led me to predict a promising downtrend as I sold 2 lots at 1.4625. However the currency rate penetrated the resistance level and climbed close to 1.4650, hitting my stop loss of 15 pips that cost me more than $300. 4 hours later (8:30 EST) when the daily [...]