Good day everyone,
Last week eurusd close as a doji.
This week, 2nd August is the deadline for US debts. Eurusd may trade sideway until 2nd August. I favour eurusd to drop this week with expectation that eurusd will retrace to 1.4400 region before turning down.
So good to pick short if eurusd reach 1.4400. SL 50 pips. Target will be around 1.4050 - 1.4100.
Eurusd update - 29 July 2011 Friday
Good morning everyone,
Yesterday I apologise, I wasnt able to do any updates as I was busy out the whole day. Due to this, I didnt trade either.
Today, despite the fact that I favour turning short, I would recommend staying out until next week as today eurusd might just swing for another day. Anyway, next week, we will likely see big movement or clear direction due to some fundamentals, like the US debt deadline and some major news.
Yesterday I apologise, I wasnt able to do any updates as I was busy out the whole day. Due to this, I didnt trade either.
Today, despite the fact that I favour turning short, I would recommend staying out until next week as today eurusd might just swing for another day. Anyway, next week, we will likely see big movement or clear direction due to some fundamentals, like the US debt deadline and some major news.
Eurusd update - 27 July 2011 Wednesday
Good morning everyone,
Yesterday, my 2nd scenario really came true. Eurusd went up without retracing down first.
Topside is quite limit. 1st resistance is around 1.4570. However, latest news stated that President Obama threatens to veto house speaker Boehner's debts plan shows that US is still trapped in its debts deadlock and could drive eurusd higher.
In such case, I favour picking long if eurusd retrace to 1.4475. SL 50 pips and target exit is around 1.4650.
Yesterday, my 2nd scenario really came true. Eurusd went up without retracing down first.
Topside is quite limit. 1st resistance is around 1.4570. However, latest news stated that President Obama threatens to veto house speaker Boehner's debts plan shows that US is still trapped in its debts deadlock and could drive eurusd higher.
In such case, I favour picking long if eurusd retrace to 1.4475. SL 50 pips and target exit is around 1.4650.
Eurusd update - 26 July 2011 Tuesday
Good morning everyone,
Yesterday, eurusd reached the entry level but havent trigger our stop loss or profit target.
I still favour holding short view that eurusd will reach 1.4250 regions. So those still holding short, wait for eurusd to reach target today. However, stay cautious if eurusd breaking above 1.4440 due to fundamentals.
Yesterday, eurusd reached the entry level but havent trigger our stop loss or profit target.
I still favour holding short view that eurusd will reach 1.4250 regions. So those still holding short, wait for eurusd to reach target today. However, stay cautious if eurusd breaking above 1.4440 due to fundamentals.
Eurusd update - 25July 2011 Monday
Good morning everyone,
Looking at chart pattern, There is a high possibility that eurusd will turn down. However, look out for resistance level 1.4440. If eurusd break above be cautious. Therefore it is good to pick short around 1.4390, SL 50 pips. Target exit 1.4250.
Looking at chart pattern, There is a high possibility that eurusd will turn down. However, look out for resistance level 1.4440. If eurusd break above be cautious. Therefore it is good to pick short around 1.4390, SL 50 pips. Target exit 1.4250.
Eurusd update - 22 July 2011 Friday
Yesterday, SL was triggered before eurusd went up to hit the target!
Well, there is no 100% in trading, this is when I like to say shocking bad luck. haha!
Today, we expect eurusd to continue climbing. I expect a retracement to 1.4330 before turning up. So good to pick long around 1.4330 with SL around 50 pips target exit is around 1.4480.
However, in any case if eurusd did not retrace to 1.4330.Good to pick long if it breaks 1.4438.
Well, there is no 100% in trading, this is when I like to say shocking bad luck. haha!
Today, we expect eurusd to continue climbing. I expect a retracement to 1.4330 before turning up. So good to pick long around 1.4330 with SL around 50 pips target exit is around 1.4480.
However, in any case if eurusd did not retrace to 1.4330.Good to pick long if it breaks 1.4438.
Eurusd update - 21 July 2011 Thursday
Good morning everyone,
Yesterday eurusd went up as forecast.
Today is a very important day as there will be an EU summit. Eurusd may stay on a sideline until tonight US session.
I would favour picking long still around 1.4200. With stoploss around 50pips. Target exit is around 1.4350.
Yesterday eurusd went up as forecast.
Today is a very important day as there will be an EU summit. Eurusd may stay on a sideline until tonight US session.
I would favour picking long still around 1.4200. With stoploss around 50pips. Target exit is around 1.4350.
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