EUR/USD June 12th

Right now the pair is trading @ 1.4106;yesterday we had a low in area 1.3940 and a max in area 1.4170; it is since May 20th that we are ranging between 1.38-1.43;
yesterday low was 70 pips lower than the close of the candle; the high was also 70 pips higher than the close of the candle;
the pair is trading in upper band of bollinger and the rsi is @56; the stochastic is bearish; for today I am expecting a continuation of this ranging period and so a target 1.3950-1.4000, depend on today development;
here are some support and resistance:


R3 1.4532; R2 1.4302; R1 1.4204; S1 1.3974; S2 1.3842; S3 1.3612;

One more thing: today may happen that this ranging period end...so don't forget to fix stop loss;

My trading plan:
I will sell 2x units now @ 1.4106;
stop loss @ 1.4180
target 1.4000 area for one unit and 1.3900 area for the other unit: will follow during the day;

have a good trading day

:D

EUR/USD June 11th

The pair is trading right now @ 1.4045; yesterday it went up to 1.4141 and down to 1.3914; the RSI is almost flat at 51 but the stochastic is turned bullish; the pair is also trading in the upper side of the bollinger band; no indication from Fibonacci this time.
the trend is still bullish; so if a continuation of the bullish trend will happen, it will probably be today; this mean that at some point we may see the rate going up to test 1.4340 area; it is 300 pips away; today we have a lot of news and I do not see it impossible; on the down side, we had a formation of an Head&Shoulder that didn't end in any movement...this may be the sign that the bears are not really strong and convinced; anyway a movement below 1.3980 may result in a downside movement with target 1.39 area;
To be clear right now I do not see a clear opportunity to trade;

here are some support and resistance:

R3 1.4487; R21.4260; R1 1.4153; S1 1.3926; S2 1.3806; S3 1.3579

my trading plan:
I would sell now one unit @ 1.4040;
stop loss 1.4150 area;
target 1.3850 or 1.37 area;
or I would wait for the rate to go down 1.3980 and sell it for 1.3850 area;
or buy now, stop loss @ 1.3975 and take profit @ 1.4140 area;
depend if you feel more bullish or bearish or risk adverse;
I am still bearish.

have a good trading day

:D

EUR/USD June 10th

The rate is trading @ 1.4087 right now; yesterday it went down to 1.3860 area and than up to 1.4115 area; a downside movement was also supported by a bad news for the EUR; for sure a break of 1.3800 area would have determined a clear bearish scenario, and probably everybody is waiting for more confirmations before buy USD vs EUR;
On the 4 hours chart the rate is finishing an head and shoulder that may move the pair down to 1.3300 area; but in this case one last confirmation is needed: 1.3850 area...; French industrial production is down more than expected...
on the up side...the resistance @ 1.4300-50 area is really hard to break and alos 1.4200; maybe if US trade balance will be really bad we may see the pair going to the next stage: 1.45 - 1.50;
I am still bearish;

here are some support and resistance:

R3 1.4531; R2 1.4276; R1 1.4181; S1 1.3926; S2 1.3766; S3 1.3511;

may trading plan:

I will sell 1x unit right now @ 1.4067;
stop loss @ 1.4181;
target 1.3850 and if everything goes in head and shoulders way target 1.3300

have a good trading day;

:D

EUR/USD June 9th

The pair is trading @ 1.3925; yesterday after being up to 1.4000 it went down to 1.3800 and than up to 1.3840 area and up to 1.3900 area; right now it is trading in the upper bollinger band and looks bullish the 15 min chart; In the daily chart it crossed the 30 days exponential moving average at 1.3800 so if today it will go down with a lower minimum than yesterday we may see a violent bearish movement that may end at 1.3300 area; on the upside we have a psychological resistance at 1.4000 and than the last week high should serve as good resistance also; 1.3930 worked as resistance since yesterday so it is really important it doesn't break it; or if it will break it the pair may move up vs 1.4000 area; 1.3915 represent the 23% of Friday-Monday movement; next level is 1.3963 that represent the 38%;

here are some support and resistance:

R3 1.4308; R2 1.4108; R1 1.4017; S1 1.3817; S2 1.3708; S3 1.3508;

My trading plan:
I will sell 1x unit now @ 1.3918;
I will put an order to sell 1x more unit @ 1.3963;
stop loss @ 1.4025;
lock profit for 1x unit @ 1.3800;
with the second unit target to 1.3720-00 area;

have a good trading day;

:D

EUR/USD June 8th

The rate is trading @ 1.3945 in this moment; during last session it went down from 1.4180 area to 1.3960 area; at open Monday night it went to 1.3920 area and up to 1.4000;
during last Friday the high was 1.4267; there is a lot of volatility; 1.4000 represent 23% correction of Friday movement; in the daily chart we are trading right in the middle of the bollinger band; also in the daily chart we are at the same value of the 23 days moving AVG; IF today will go to 1.3800 area a bearish scenario may start after breaking on the dawn side that value; to me looks much more possible we will range for today; between 1.39 and 1.4000 until the German factory order news, and than we may trade up to 1.4100 if confirmed the expectation, or that news will bring the rate down to 1.38.

Here are some support and resistance:

R3 1.4468; R2 1.4248; R1 1.4097; S1 1.3877; S2 1.3808; S3 1.3588;

fot today I do not have a trading plan right now;
I am short one unit; I am closing it right now: 1.3926 (it's 19 pips more since i have started writing this morning);
I will wait for an opportunity today, but most probably I will be out of the market for the whole day.

have a good trading day
:D