EUR/USD July 10th

The pair is trading @ 1.3946;yesterday it went down to 1.3830, and than up to 1.4070 area; right now we are probably going back to 1.3900 as the ranging is not over, and I believe it may continue per months; apart from the G8 today some important news will be released in US, and the expectation should make the dollar a little stronger, will see the real data if it will match the expectation; on the 4h chart we are just below the EMA and we just started trading in the lower bollinger band; the RSI is @ 45 and the stochastic is for a bearish continuation; we should have a good support in the area 1.3915-1.3900 so I would buy close to that area.

here are some support and resistance:

R3 1.4429; R2 1.4189; R1 1.4067; S1 1.3827; S2 1.3709; S3 1.3469;

My trading plan:

buy 1x unit here @ 1.3920;

stop loss @ 1.3890 (right after the support area I said before)

target 1.4050;

if stop loss is hit buy again @ 1.3850

stop loss 1.3827;

target 1.4000 or higher;

keep an eye on today news

have a good trading day

:D

EUR/USD July 9th

The pair is trading @ 1.3920; yesterday it went down to 1.3830 area and than it went back to 1.3915 area; yesterday low is an old low, so it means that the pair failed the break that resistance; in the 4h chart we can see that since July 1st we are having lower high and lower min; it's important to understand if the overnight retracement is just a retracement and so a trend is starting, or there is no space for a real bearish trend and so will continue ranging with target over 1.4050; the last candle touched the middle band of bollinger, but right now we are trading in the lower band, also below the EMA; RSI is @ 45 and the stochastic may support a bigger correction; except for the G8 today there are no real news that should surprise and influence the rate;

here are some support and resistance:

R3 1.4117; R2 1.4007; R1 1.3963; S1 1.3853; S2 1.3787; S3 1.3677;

my trading plan:

buy here @ 1.3926 if you think more ranging will happened;

stop loss 1.3853;

target 1.4050 or higher;

or sell here @ 1.3926 if you think a trend is starting;

stop loss 1.3963;

or wait and take decision when everything will be a little more clear;

I would say we are in no trading zone;

have a good trading day

:D

EUR/USD July 8th

The pair is trading around 1.3900; yesterday it went up to 1.4049 and than down to 1.3900 area; this area was a bottom in in two occasions in the last month: in the first one the rate went up to 1.42, in the second few days ago, it went up to yesterday top; so we are trading in the area of really good support and a fail of it would demonstrate that there is no space for a further bearish movement; in the 4h chart the rate is below the EMA, RSI=39; the stochastik need a small retracement or a huge one; today the G8 start and would be a good idea to follow it really close.

here are some support and resistance:

R3 1.4248; R2 1.4099; R1 1.3999; S1 1.3850; S2 1.3801; S3 1.3652;

my trading plan:

buy 1x unit here @ 1.3901;

stop loss @ 1.3850;

target 1.4000 or higher,

have a good trading day

:D

EUR/USD July 7th

The pair is trading @1.3937; yesterday it went up to 1.3998 and down to 1.3876; this morning was up to 1.3990 area, again. 1 week ago was there...no important news are coming today, so my expectation is the continuation of the ranging; on the 4h chart the rate is below the EMA and is trading in the lower bollinger band; the RSI is @ 40; the stochastic is turning bearish; the variance is diminishing, so would not surprise if next movement will be up to 1.4100 area; I think this is a good opportunity to buy; I do not believe the pair will go further down.

here are some support and resistance:

R3 1.4181; R2 1.4059; R1 1.3998; S1 1.3876; S2 1.3815; S3 1.3693;

My trading plan:

I will buy 1x unit now @ 1.3933;

stop loss 1.3865 (or close there, when 1.3876 is broken);

target 1.4050-1.4100 area, let's follow today development;

have a good trading day

:D