Yesterday's EURUSD trade, easy 55 pips

Opened  a long position at 3780 and closed it at 3835 (TP3). Price eventually reached 3850 (TP4) later. The original signal we sent out:

Pair tumbled down towards 3810 in sympathy with aussie (AUDUSD fell on lower than expected CPI data). Oversold on H4, divergence on H1. If 3800 fails, next supports @ 3780, 3755, 3700.
LONG @ 3805, SL 3775, TP1 3820, TP2 3835, TP3 3850, TP4 3860.
LONG @ 3780, SL 3750, TP1 3810, TP2 3825, TP3 3835, TP4 3850.

 

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Euro rebounds strongly, precise forex forecast, 120 pips

Strong rebound on EURUSD from 3700 low, supported by Fed’s Beige Book and a positive opening on Wall Street, reached our anticipated target of 3980. Our short signal read "SHORT @ 3870, SL 3900, TP1 3850, TP2 3830, TP3 3810." and as we stated in our forex forecast "A confirmation above 3900, however, is likely to bring more bulls into the market with targets of 3935, 3980 & 4000." 40 pips profit on the short position and 80 pips on the long one.

 

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EURUSD forecast and signal, +60 pips

Heavy profit taking, bearish divergences and a double top formation sent the pair to 3860 during Asian session, where it finally found support, for the time being. Charts are mixed: daily bearish, H4 oversold, trend is neutral. As long as above 3800, our view is bullish on the pair. Below here we could see further weakening towards 3730-3700. Expecting a choppy market for today, a struggle between bulls and bears. Loss of 3850 should send us to 3800, which is a crucial support and is likely to hold. We recommend selling rallies at higher levels. Resistance @ 3940-50, 3970, 4000, 4023. Support @ 3830, 3800.
SHORT @ 3935, SL 3955, TP1 3920, TP2 3900, TP3 3885. (SL hit, -20)
SHORT @ 3970, SL 3990, TP1 3940, TP2 3915, TP3 3900. (SL hit @ BE+1)
SHORT @ 4000, SL 4025, TP1 3980, TP2 3950, TP3 3920.(TP3 met, +80)

 

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EURUSD brief technical analysis

EURUSD
[Issued at 2010-10-15 07:02 GMT+1]
Pair is short term bullish as long as above 3700. Intraday: bullish as long as it remains above 3800. We have an important support area around 3970-50 (congestion zone as well as 100 EMA & SMA). Loss of this should bring more weakening towards 3920-10 & 3900 (61.8% fib and psycho level), followed by 3860-50 (fib & support) and 3800. On the upside, targets above 4200 are 4260, 4290 and finally 4400. Pair rebounded before the 38.2% fib retracement level, suggesting bulls are still strong. Currently we are trading in a triangle pattern with a possible break to the upside @ 4050 but we also have bearish trendline coming in around 4060.

UPDATE: long signal closed with 40 pips profit. Signals available for members. Visit our website @ http://www.pivot-forex.com/ for more info.
UPDATE 2: long signal closed with 75 pips profit, TP3 met. 

Bank holiday trades, 65 pips

Trading on bank holidays is usually boring as hell, price moving in a narrow range. Yesterday was a little different, though. Boring, yes, but very predictable. All you had to do was watch the pivot @ 3950. We did two trades, totalling 65 pips in profit. The original signal we sent out:

Rejected twice above 1.40, pair has been trading lower. Bank Holiday in Japan and the USA (Columbus Day), so expect sideways trading with a downside bias. As long as 3950 holds, look for small longs, below here further falls should be seen. Short term speaking, we see the pair bullish as long as above 1.38. Loss of this support will send the pair to 3700, 3640. However, 3600 should prevent further losses.
LONG @ 3955, SL 3940, TP1 3980, TP2 3995.
SHORT @ 3940, SL 3960, TP1 3920, TP2 3900.

Yesterday's recommended trades yielded 165 pips

We issued 3 trading signals yesterday, all of which resulted in positive pips.

EURUSD: Long @ 3900, closed @ 3980, TP3 met, 80 pips. Yesterday's signal:

Euro bulls still strong, recommend buying dips as long as price above 3890-3900 immediate support area. Above 3930 expect price to reach previous high @ 3947, above 3950 expect more buyers to join in for 1.4000. May witness some long covering here, so better close positions around this level and wait for a dip lower to join bulls again.
LONG @ 3900, SL 3880, TP1 3930, TP2 3945, T3 3980.

GBPUSD: 1st position: long @ 5890, closed @ 5900. TP1 met but kept position and got stopped out at BE+10, 10 pips profit. 2nd position: long @ 5890, closed @ 5935, TP2 met, 45 pips. Yesterday's signal:

Cable is bullish as long as above 5830 immediate support and 5810-00 congestion area and trendline support. Loss of 5800 may send the pair to 5740 area.
LONG @ 5890, SL 5870, TP1 5910, TP2 5935.

USDJPY: Short @ 82.60, closed @ 82.20, TP2 met, 40 pips. Yesterday's signal:

Dollar has been under attack and no sign only rumours of a second intervention by BOJ yet. Despite oversold readings on higer TFs, our view is bearish as long as pair is traded below 83.00. A push above here could send us to 83.30, then 8400, but keep in mind the general bearish sentiment. The key level for today on the downside is 82.60. Loss of this is likely to trigger further weakening.
SHORT @ 82.60, SL 82.90, TP1 82.40, TP2 82.20.
LONG @ 83.05, SL 82.90, TP1 83.30, TP2 83.90.

EURUSD 90 pips, TP3 met

Took long @ 3690, closed @ 3780. The original signal we sent out:

Pair is retracing from 3805 high.A look at the charts. Daily overbought but still bullish, H4 neutral, H1 bearish. Pair is in an uptrend, downside is limited. As long as traded above 3600-3630 support zone, we recommend buying dips. Loss of 3600 would give 3560, further weakness 3500.

LONG @ 3630, SL 3600, TP1 3670, TP2 3700, TP3 3720.

LONG @ 3610, SL 3590, TP1 3670, TP2 3700, TP3 3720.

LONG @ 3690, SL 3660, TP1 3720, TP2 3750, TP3 3780.

Choppy market, BOJ eases monetary policy

Let's see how today's signals play out...
UPDATE: 90 pips pocketed.

EURUSD 60 pips, TP2 met

Weak bulls. As long as above 3560, we're holding our bullish view on the pair. Opened short @ 3735, closed @ 3675. The original signal we sent out:

Euro exhausted on H1-H4-Daily, expecting some retrace today, but for that we'll have to overcome the 3737 barrier first. Pair is short term bullish as long as above 3400. On the downside, expect some bulls @ 3660, 3610-00, 3560. As long as above here, we see any retracements as corrective and hold our bullish view on the pair.

SHORT @ 3735, SL 3760, TP1 3700, TP2 3675.

LONG @ 3560, SL 3540, TP1 3600, TP2 3640.

EURUSD 70 pips, TP2 met

Irrational but still bullish.Not comfortable with bulls but pocketed 70 pips. Long @ 3710, closed @ 3780. The original signal we sent out:

Despite the extreme readings and bad news coming from Euro zone countries, Portugal, Ireland and Spain, still no decent retrace. The market can stay irrational for much longer than we can imagine. Yesterday we intended to join the bulls at 3530-10 but the orders were not filled: the pair only rebounded to 3560 before pushing back up strongly. Above 3690, next targets are 3760 & 90, followed by 3817 March high. Under 3580 we could see a quick drop to 3560. Pair is bullish as long as above this level. Loss of 3560 will open 3525, 3500. Under this last, look for 3470, 3430.
SHORT @ 3550, SL 3570, TP1 3525, TP2 3500, TP3 3470, TP4 3430.
LONG @ 3710, SL 3690, TP1 3750, TP2 3780.