Euro Dollar rally is back
by John on 17/12/08 at 2:24 pm
The EUR/USD rally is back. In just 2 weeks, the EUR/USD raised nearly 2000 pips.
This rally started on the triangle breakout that I told you about, and in case you joined the trend, you’re already sitting on 1000 pips profits.
The buy point was at 1.3081.
The EUR/USD has been crashing all the resistance points, but is [...]
Short term trading signals
Let’s take a look to some opportunities for the next week. These trading signals are based solely on support and resistance areas.
EUR/USD:
Above 1.2820 EUR/USD is a buy. Below 1.2645 is a sell.
GBP/USD:
Above 1.5513 GBP/USD is a buy (for the short term). Below 1.5250 GBP/USD is a sell.
USD/CHF:
USD/CHF is a buy above 1.2200. Below 1.2086 is [...]
Full StoryHow to choose the best Forex System or Course
In order to make money in Forex you need to educate yourself. Sometimes, it pays to purchase a good Forex trading system or a good Forex trading course.
The biggest problem is that most systems and courses simply don’t work.
To avoid wasting time on money, I follow a couple of simple steps:
1 - First I like [...]
The Long Term Trend
It’s important to keep an eye on the longer term trend.
Let’s check the long term trend on the most important currency pairs:
EUR/USD:
The EUR/USD weekly chart shows a severe downtrend that started on with a double top breakdown formation. In just a couple of months, EUR/USD lost the gains it made in 2 years.
GBP/USD:
The GBP/USD started [...]
Full StoryHow to use MACD in Forex?
The MACD is one of the most useful indicators for Forex traders. It gives you 2 kind of useful signals:
1 - Buy and sell signals: A cross above the 0 line is a buy signal, and a cross below the 0 line is a sell signal.
2 - Divergences - The divergences show you the strength [...]
USD breakdown on poor GDP release
The USD GDP was even worse than expected showing a weaker US economy. As a result the USD crossed below a short term support area.
As we can see in this chart the RSI was already giving a bearish divergence since the RSI was lower on the recent dollar highs. Now this breakdown below the support [...]
Full StoryMost important economic indicators for the USD
Tomorrow the US GDP will be released at 13:30 PM GMT and the consumer confidence will be released at 15 PM GMT.
Wednesday, the Consumer confidence will be released at 15 PM GMT.
Thursday the US market will be closed so you can count with lighter volume and volatility on Thursday and Friday.
addthis_url [...]
Full StoryHow to minimize risks on Forex
Forex is a risky market, but you can decrease risk by using simple rules:
1 - Always use a stop loss - if you’re looking for a way to minimize losses, you need to cut losses as soon as possible. For this you can place a stop loss guaranteeing that no matter what happens, you only [...]
7 Tips to become a Master Forex Trader
1- Learn the basics before you start trading.
2 - Make sure you paper trade for at least 6 months before you trade on a demo account.
3 - Ignore all the hype about miracle systems especially those who promise to work without any work at all. Successful traders work hard to reach success.
4 - Read everything [...]
Is the Brazilian Real Rally Over?
The Brazilian Real had a great rally against the USD. Recently the USD gained strength against most of the currencies including the Real.
The long term chart shows us the USD was able to break above this strong downtrend. This means that the Brazilian Real seems to be in trouble against the USD on the near [...]
Full StoryHow to trade Gaps in Forex
A Gap happens when the opening price is above or below the previous close. Since the Forex market is open 24 hours a day from Monday to Friday, the only time when we have gaps is during weekends.
When the Forex market opens on Sunday, lots of time is opens clearly above or below the Friday’s [...]
