EUR/USD - Euro Dollar

Short term (Intraday)

1,3512. EUR USD is in an uptrend supported by 1H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR USD. The uptrend should continue on 1,3700 resistance (188 pips).
=> We could take a long position at 1,3500. We will put the stop loss below 1,3420 (-80 pips). The targets are 1,3640 (+140 pips, risk/reward 1:1.8), 1,3700 (+200 pips, risk/reward 1:2.5) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,3525 - 1,3640

Supports

1,3430 - 1,3410

Long term chart

EUR/USD - Euro Dollar

updated 15 déc 2008 13:14 GMT

source from : mataf.net

Today's Forecast For EURUSD

The today’s forex forecast is trading close to levels of 1.3600. The traders will not take the risk ahead the Federal Reserve meeting on Wednesday. The words of Fed for the interest rates expectations during 2007 are on focus. On Wednesday are not expecting changes of the current interest rates level.

The trading today is expecting at levels of 1.3570 to 1.3660. For the European session the dollar will continue to fall against the euro slowly to levels of 1.3630/45. If the resistance there is not enough the dollar will fall to 1.3660. Till the news from Wednesday the traders will not start buying dollars and is expecting new test of the record low dollar levels against the euro.

Source from :- forex site
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EUR/USD

EUR/USD Ratio: 1.00
Trading Forecast: Neutral

Forex Positioning in the EURUSD

EURUSD – Forex positioning in the Euro/US Dollar has been especially volatile as of late, but shifts in trader sentiment have been useful to forecast changes in short-term direction for the EUR/USD pair. Indeed, the forex trading “crowd” flipped net-short the EUR/USD just as it hit rock bottom through recent trade—a timely signal to buy the EUR/USD. Our SSI Ratio has since moved to neutral territory, and a 11.2 percent overnight gain in long positions suggests that the EUR/USD trend may shift to the downside. Our SSI-based currency trading signals previously bought EUR/USD aggressively through the 1.2600 mark, but a further shift in positioning would likely make those same strategies go short—signaling further EUR/USD losses.

Trading Forex: Profitable or Risky?

Trading Forex has become very popular in recent years. All different people from different countries, occupations and social status have used forex trading. Trading forex has become an interesting item, the bottom line question many people are asking themselves is: is it worth taking the risk of trading forex?

When trading forex you are taking a big risk, but many people decide to assume it based on the profits forex may represent for them. Forex trading is not suitable for everyone, and definitely not for those who like being conscious about how they spend their money. Forex trading requires a person willing to study the market, as this is the basic for becoming a successful trader.

You might be considering getting into trading forex, with that in mind let´s take a look at the basic points of what goes on in the FX world. Forex is essentially a 24 hour market where people constantly sell and buy different world currencies. A forex trader or broker will attempt to buy a currency at a lower rate, anticipating to sell it a higher rate. Traders do a lot of these trades, and attempt to earn a certain margin on most of them. Large amounts of money in the hands of an expert trader can represent greater earnings. However experience and success don´t come easily, it takes time and understanding of the market to make the right moves.

Forex can be risky for two main reasons. In order to make a significant profit easily, a trader may jump into a margin trading. In a margin trader only a small percentage of the money belong to the trader, the rest is leverage. The larger the leverage, the greater the risk for the trader.

If you are seriously interested on trading forex, prepare yourself to be applicant and do your homework, as well as taking the risks involved.

Source from: - Tradeview.Com

What is a Candlestick?

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While we briefly covered candlestick charts in the previous lesson, we’ll now dig in a little and discuss them more in detail. First let’s do a quick review.

What is a Candlestick?

Back in the day when Godzilla was still a cute little lizard, the Japanese created their own old school version of technical analysis to trade rice. A westerner by the name of Steve Nison “discovered” this secret technique on how to read charts from a fellow Japanese broker and Japanese candlesticks lived happily ever after. Steve researched, studied, lived, breathed, ate candlesticks, began writing about it and slowly grew in popularity in 90s. To make a long story short, without Steve Nison, candle charts might have remained a buried secret. Steve Nison is Mr. Candlestick.

Okay so what the heck are candlesticks?

The best way to explain is by using a picture:

Candlesticks are formed using the open, high, low and close.

• If the close is above the open, then a hollow candlestick (usually displayed as white) is drawn.
• If the close is below the open, then a filled candlestick (usually displayed as black) is drawn.
• The hollow or filled section of the candlestick is called the “real body” or body.
• The thin lines poking above and below the body display the high/low range and are called shadows.
• The top of the upper shadow is the “high”.
• The bottom of the lower shadow is the “low”.

Close Open Orders:

Close Open Orders:

Looks like we were right, but a bit off on entry as EUR/USD rocketed higher on positive Eurozone data and weak US data. There was no retracement to our entry point, so no trade to catch the run higher. We will close our open orders as the pair is now testing 1.58.

As the pair approaches 1.59 once again, we will look for resistance and a possible short play.

Trade Idea: 2008-03-25 00:45

EUR/USD has been in consolidation mode for the last few trading sessions. We just saw a drop in the Greenback against the Euro within the last few hours to break outside of the range. Is the market ready to test 1.59 once again?

This pattern occurred earlier this month, as highlighted on the chart. Without any major difference or change in fundamentals since then, we may see traders looking to buy back the Euro and continue the longer term trend higher. Also noted on the chart, it looks like the pair found support at the 38% Fibonacci retracement level. This was drawn on a daily chart using around 1.45 and 1.59 as the swing points. It seems that support held pretty well and brought buyers back in.

I look to long, but only if the pair retraces from such a relatively strong move in the asian session. I'd like to see it come back to 1.55 before going long.

Long EUR/USD at 1.5500, stop at 1.5400, pt1 at 1.5600, pt2 at 1.5800

If this trade triggers and goes our way, it looks like it'll be more than a day trade. No major fundamental events foreseen for the next few hours, so we will look for technicals to play out. Stay tuned, good luck and good trading!