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SignalTrader.com - EUR/USD Daily Technical Outlook, Apr 18, 2011
Forexgreenland - Forex forum,Forex training, Forex signals, Forex managed accounts :: Your first category :: Forex Technical Analysis & Strategies Forum
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SignalTrader.com - EUR/USD Daily Technical Outlook, Apr 18, 2011
Technical Overview:
EUR/USD started the week with a massive selloff, pushing its price toward the significant support at 1.435, which held the bearish momentum for now. On the daily chart - the pair continues to move between the bands of the upward channel. The bulls came, once again, at the lower band of the channel, pushing the pair price a bit up toward 1.438.
The RSI indicator is no longer at overbought levels.
On the hourly chart there are many signs for bullish short term reversal.
The DI+ is on extreme low levels, which in the past resulted in a 200-300 pips move upward. Both RSI and MACD are signaling a completion of the downward short term trend and a reversal up.
At the current levels we are expecting a reversal up and taking LONG positions.
[You must be registered and logged in to see this image.]
Trading Idea:
Best levels to enter LONG positions are between 1.435 and 1.438. Take profit should be located at around 1.45-1.452. Stop loss should be located at 1.432.
In such case, breaking above 1.453, will bring us back to LONG.
SHORT positions should be taken by breaking below 1.432 with a stop loss at 1.437 and take profit at 1.426.
Analysis by SignalTrader.com – the leading solution for [You must be registered and logged in to see this link.]. Autotrade on Forex, Indices and Commodities.
RISK WARNING: Trading foreign exchange (“Forex”), Commodity futures, options, CFDs and SpreadBetting on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial adviser if you have any doubts.
EUR/USD started the week with a massive selloff, pushing its price toward the significant support at 1.435, which held the bearish momentum for now. On the daily chart - the pair continues to move between the bands of the upward channel. The bulls came, once again, at the lower band of the channel, pushing the pair price a bit up toward 1.438.
The RSI indicator is no longer at overbought levels.
On the hourly chart there are many signs for bullish short term reversal.
The DI+ is on extreme low levels, which in the past resulted in a 200-300 pips move upward. Both RSI and MACD are signaling a completion of the downward short term trend and a reversal up.
At the current levels we are expecting a reversal up and taking LONG positions.
[You must be registered and logged in to see this image.]
Trading Idea:
Best levels to enter LONG positions are between 1.435 and 1.438. Take profit should be located at around 1.45-1.452. Stop loss should be located at 1.432.
In such case, breaking above 1.453, will bring us back to LONG.
SHORT positions should be taken by breaking below 1.432 with a stop loss at 1.437 and take profit at 1.426.
Analysis by SignalTrader.com – the leading solution for [You must be registered and logged in to see this link.]. Autotrade on Forex, Indices and Commodities.
RISK WARNING: Trading foreign exchange (“Forex”), Commodity futures, options, CFDs and SpreadBetting on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial adviser if you have any doubts.
SignalTrader-
Number of posts : 27
Location : Cyprus
Reputation : 1
Points : 81
Registration date : 2011-03-09
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