Saturday Feb 4

Posts Tagged ‘eur/usd’

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May
20/11
Forex Technical Analysis – EURUSD 05/20/11
Last Updated on Friday, 20 May 2011 09:56
Written by Ross Mullins
Friday, May 20th, 2011

Ross

Trade of the day on the EURUSD sold 1.4258 at 9:11 am ET. Trade closed with 50 pips but much more potential for traders holding for more.

During the trade room today we discussed the break of the trend line as viewed on the 30 minute and the 1 hour chart, with the open and close under the trend line. We also noted the possible entry on the retest of the trend line.

The market moved back to test the trend line as viewed on the 30 minute chart. 

Click on image for larger view

Additional confirmations came with the break and attempt to retest of the Tunnel on the 1 hour chart.

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Feb
11/11
Technical Trading: EURUSD Reversal
Last Updated on Friday, 11 February 2011 10:02
Written by Ross Mullins
Friday, February 11th, 2011

 Ross

This week we saw two currency pairs set up with just about perfect reversal chart patterns. I will outline it here on the EURUSD but you should look on the AUDUSD for it on the Daily chart.

A head and shoulders pattern consists of 3 peak highs, the left shoulder, the head and the right shoulder. The left shoulder is established when (more…)

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Jan
27/11
Profits taken on EURUSD Sells
Last Updated on Thursday, 27 January 2011 11:47
Written by Ross Mullins
Thursday, January 27th, 2011

Ross

Sells taken on EURUSD today from 1.3745 area. Alignment of a few technical trading indicators provided a barrier that proved to give this pair some resistance today. On the daily chart there was a test of the bottom of the previous up trend line and the .382 fib of the most recent downtrend. Drilling to the lower compressions we can also look back to Oct and Nov and find other support and resistance along this same price level. Profits posted as the market reached towards the 1.3700 area and former resistance on the 1 hour chart. A break of the 1.3745 area could begin a new leg higher so caution is stressed on the break above. confidence will grown on the downside on the break of the up trendlines on the 4 hour chart.

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  (more…)

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