EUR/USD June 5th

the pair is trading @ 1.4206; yesterday high 1.4241; low 1.4068; it close in positive area from the day before; two days ago and yesterday the volume was higher than usual; the trend is still bullish, and right now we are trading on the upper-side of bollinger band; the RSI is not overbought anymore and the Stochastic is turned bearish;
In my view the pair is turning bearish, but is needed a confirmation, right now on the 4 chart the rate is trading in the lower area of bollinger band...if this candle will close there I think we are going to see a tentative to break 1.40 area today; If not, we may see it at 1.43 again.

here are some support and resistance:
R3 1.4518; R2 1.4345; R1 1.4275; S1 1.4102; S2 1.3999; S3 1.3826

my trading plan:
I am short 4x units from yesterday;
I will stay short
stop loss @ 1.4340 area
target 1.3720 area.
1.4250-80 area would be a good rate to enter the market short;

have a good trading day

:D

EUR/USD June 4th

the pair is trading @ 1.4210 right now; yesterday it touched the max and than went down to area 1.41; now 100 pips correction(?); in my view yesterday went down because some news today may bring the rate back to 1.3720 area and maybe to 1.30 area; today we have a lot of really important news, but the most important one will be the decision from the ECB to buy covered bond: NOW, in may the decision was to buy between 60 billion and 125 billion; Weber (Germany) sustain that also 60 billion are too much; but other country want the all package done; now may expectation is the 60 Billion will be the minimum and a surprise may came.
for sure this decision will have a big impact on the pair whatever a wonderful technical analysis may say; so stay tuned for more news about that today.

I will not post support and resistance: they make no sense today;

my trading plan:
short @ 1.42 4x units;
stop loss 1.4340;
if good news hold; if bad news close immediately;
pyramid on the down side
target 1.37 area or for a long period 1.30

good luck

and have a good trading day
:D

EUR/USD June 3rd

The pair is still strong, the trend is bullish and right now is preparing for another run on the upside; Now since I want the trend to be my friend...I will not play against it; My expectation was an inversion of the trend in the next couple of days, or at least a correction to 1.4000 area...but I will wait a little bit longer; I had a short position and I close it right now; I made also few pips :D
I will wait at least the first support is broken; or I will stay out...
here are some support and resistance:

R3 1.4711; R2 1.4478; R1 1.4389; S1 1.4156; S2 1.4012; S3 1.3779

to be clear if the ECB will decide to buy 60 billion of covered bond for sure the pair will have a correction that may find the support of some long covering...it may bring the pair back to 1.3720 area... but it is too risky right now;
I will see during the day if some news may at least help to play this game.

No trading plan for the moment;
I will wait for an opportunity to short the pair and right now I do not feel a good idea to open a new long position.

Have a good trading day
:D

EUR/USD Jun 2nd up date

Today we had another bullish day; the pair moved up to 1.4330 from 1.4101;
right now it is trading @ 1.4322;
tomorrow we will have some important news on the USD side and a not worse data than expected may change the all scenario;
over 1.40 looks like the EU exportation vs US may have a problem...
somebody else says that EUR is overestimated by 25% vs USD...
next Thursday we may know that somebody just decided to buy 60 billion euros of covered bonds, I am talking about ECB president...
Now the technical analysis says BULLISH;
But we have some fundamental that may drive the pair back below 1.4000
I will start building a short position from now until tomorrow, and will see by the end of the week if this bullish scenario will follow or will end soon.

here are some support and resistance:

R3 1.4709; R2 1.4480; R1 1.44; S1 1.4171; S2 1.4022; S3 1.3793

my trading plan:
I will sell 1x unit of EUR/USD right now @1.4321 (I know I should never try to anticipate the market...)
stop loss @ 1.46;
and I will see tomorrow if I will sell more on the way down or up.

have a good trading
:D

EUR/USD June 2nd

The pair is trading @ 1.4126; the main trend is bullish; the last main movement up goes from 1.3800 to 1.4240; right now the retracement going on represent 23% of the last bullish movement; we have one strong support @ 1.4100 and a psychological one @ 1.40; 1.3900 represent 76% of this last bullish movement...we have all rounded number!!!
on the resistance side we have a small one @ 1.4160-80; and a good one @ 1.4220-40;
now the main trend is bullish, but a retracement is needed before an up movement.

here is my trading plan:
I will build a position on the retracement and I will try to pyramid it on the upside (some luck is needed to be clear);
I will buy 1x unit now@ 1.4125;
I will buy 1x unit @ 1.4100;
I will buy 1x unit @ 1.4000;
I will buy 1x unit @ 1.3900;
stop loss @ 1.3860;
with one unit take profit @ 1.4220;
with two unit I will buy one more @ 1.4180;
with 3x unit I will buy 2x more @ 1.4180 and 1x more @ 1.4220.

on the GBP/USD side there is something similar going on...no so much time to write about it but my trading plan is the same;

have a good trading day;
:D