Screen Shot Of Our Recent Trades

In August, we did 436 pips for the month.

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EURUSD Weekly Outlook

As we look at the charts last week, the weekly closing turned out to be a doji, which leads to indecision in market, but if we consider it has made new low last week and yet to make a new high, this means that downtrend is still in place.

Technically this pair is still trading below 1.2781 key level which is a strong resistance and a 38.2 fib level from its low of 1.1881 to 1.3337. For bullish reversal confirmation, EURUSD weekly close needs to be above 1.2781. The next support for EURUSD can be seen at 1.2609 which also 50.0 fib from it’s 1.3337 high. Ironically, it was also close to last weeks low of 1.2586. EURUSD bounced from that level.

We are bearish at this point until we see the clear sign of upward move.

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Strategy For EURUSD - Week of August 16-20

EURUSD had a biggest weekly fall last week. We are still bearish with EURUSD and looking to short below 1.2720. Please see the chart below for our analysis.

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EURUSD Update II

We have reached the target of 1.3150. EURUSD dropped as per our technical analysis. Please read previous two blogs. See how accurate it is.
A good technical analysis can save you from lot of grief.

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EURUSD Update

On our previous blog we mentioned EURUSD overbought position, As expected it started to fall from the begining of the week.

We took the short position based on our analysis and currently +55 pips profit. Our profit target at 1.3150.

We will close our position at that level.

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EUR/USD Technical Analysis – Bollinger Band

Bollinger bands are one of the most popular technical indicators for traders in any financial market - stocks, bonds or foreign exchange (FX). Many traders use them primarily to determine overbought and oversold levels, selling when price touches the upper Bollinger band and buying when it hits the lower Bollinger band. In range-bound markets, this technique works well, as prices travel between the two bands like balls bouncing off the walls of a racquetball court.


Currently, EUR/USD hugging upper Bollinger Band which technically considered as overbought level. Trend is still upward. MACD also confirms daily overbought level for this pair.

We will be watching how it opens next week. We think there are possibility of pullback from this overbought level. If that happens, then, EURUSD has a chance to come down to the mid level of Bollinger Band which is 1.2972.
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