Eur/usd

[thetradersclub]

Update: A decent rally from support put euro up at first resistance near 1.3820 yesterday. Price action is messy and hourly candles have been as large as 120 pips. Probably best

[thetradersclub]

Next report will be Wednesday the 17th...

In the mean time though...

It'd be awesome If you could join me and
the rest of the charter group members in
our live trading session tomorrow.
Click the link to register, and I'll see you there:

https://www2.gotomeeting.com/register/669896386

Quick reminder: I have no idea when we'll
finish. It depends on the number of questions,
how long I take to reply, and when we finish
trading. Normally the first hour is the Q&A
time, followed by hourly updates during the
trading day.

If you log on after the start, and you are told
to wait for the organiser, it means we have
finished. However, I always put the recording
up in the member's video page over the next
day or two, and you can log in to watch.

Speak soon,
James

P.S. Sometimes (not very often) I send the
invite to other traders on my list as a special
"treat" If you are not a member, but would
like to take a look at how we roll with this,
You can check it out at the link below:

Forex-Science Currency Trading


I'm running a special offer at the moment
for $4.95

[thetradersclub]

I've been sitting here watching the market
for the past few hours, wondering how to tackle
today's report :-)

I think it's best to see how today ends up, and
to take another look during tomorrow's live trading.

GPB has hit the weekly reversal, so no trades until
next week.

JPY still a horrible mess...

And EUR is still short for the week, but after
yesterday's strong rally, selling might be a problem.

Let's take a look tomorrow!

Speak soon
James.

[thetradersclub]

Weekly Trend direction: Bearish


Weekly trend reversal level: 1.3800
Key G7 resistance levels: 1.3650, 1.3720, 1.3800

Counter-trend opportunities:

Strategy: Whilst below the weekly trend reversal level sell rallies to resistance levels after an entry signal.

Today's trade suggestion:
Interesting situation...Last week’s weekly candle formed a “Doji” just about at the 618 retracement level (see weekly chart) and the euro is more oversold than it has been for two years. However, bottoms often take a few weeks to form properly, and negative EU sentiment might still weigh on the euro for another week or two. It’s tempting to consider the weekly direction reversed, but I’d prefer to wait for another weekly reversal candle for confirmation. Until then, and whilst below 1.3800, G7 remains bearish. Resistance levels are at 1.3650 (where we are now), 1.3720 and 1.3800. There are small signs of reversal as I’m writing this report, with an hourly “hanging man” candle at the 1.3650 resistance, the two MA’s right where we are and an overbought stochastic. Try tiny shorts for a target of circa 1.3550.

Summary:
Sell near 1.3650 (or above if it fails) target 1.3550.

[thetradersclub]

Update Wednesday: The euro certainly sold off – but unfortunately, too far, too fast and from an “in-between” level, creating a nasty fake-out. We’re still looking to sell into rallies to between 1.3600 and 1.3650 where there could be a good G7 entry signal later in the day. Short term target 1.3500, and then lower.

[mirshab]

have you heard about pipinvest.com boom boom

[thetradersclub]

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.3440

Key G7 support levels: 1.3600, 1.3540/70, 1.3500

Counter-trend opportunities:

Strategy: Whilst above the weekly trend reversal level buy dips to support levels after an entry signal.

Today's trade suggestion:
Another weekly “doji” candle and an “insider” candle mean that the probabilities have shifted towards a bullish week for the euro this week, and perhaps even a medium term bottom. We shall have to wait and see. In the
meantime, I’m now looking to buy dips whilst we are above the weekly reversal level at 1.3440. As I write, we are at first support at the key 1.3600 level, which also happens to be a confluence of S/R, the 38% retracement level and the 200EMA. This gives a high probability trade, but more importantly, a tight stop loss and a decent target. Look to buy here, stops below 1.3590, for a target of at least 1.3700. If support at 1.3600 fails, then I’ll be looking to buy lower down at 1.3540/70 or 1.3500. Although this is a good setup, be aware that market turning points can take a while to “solidify” and we may still get a lot of movement between 1.3600 and 1.3400 for the next week or so.

Summary:
Buy dips to support after a clear G7 signal. Short term target 1.3700.

[thetradersclub]

Update Friday: A double bottom at 1.3550 and an amble back to the top of the range at 1.3700 as expected. What happens today is probably going to define the next medium term move. A drop back means there’s a good
chance of falling through the bottom of the range this month, whereas a move through the top could mean a rally to 1.4000. If you are still long from yesterday’s live trading, ratchet up your stops to just under 1.3620 and
wait for the break!

[thetradersclub]

Today's report is in video format. I hope that you enjoy...it is far more detailed, so well worth taking a look at.
I had to post it to Chris's site for now...it is the top video on this page below called "currency analysis for 19th March"...

[thetradersclub]

Today’s analysis is in a video format again at the below link…

The 360 video series is also available from tomorrow so make sure your check out…

Forex-Science Live Trading