6:26a GMT - Another week another pip! We saw good pips last week off of the EUR/USD rise and, to begin this week, the trend remains strongly to the upside and I will continue to look for buying opportunities on dips. Fundamentally the market is still attempting to figure out whether an economic recovery is actually happening or if it is just government-supported, and IF it is happening for real what the implications for the EUR/USD would be. In the meantime the pair has technically been steadily making higher highs and higher lows. In summary: the short-term trend is up so I will look to buy.
Trading Idea: We have a support zone between 1.4900-1.4870 and I will look for a failure/bullish signs in this area. Long targets preferred at (from 1.4870) 1.4905, 1.4940 and 1.4970.
Also, a brief update on the signals service I've been working on for you. Signals are looking good, offering specific entries/exits on several major pairs with good win rates. I interfaced them into the website this weekend (they are still in testing so still private, before you ask). Here is a screenshot of the interface where you can see the strategies summaries. From the drop down you can select any strategy and view open/closed/pending orders. This is for the past 2 weeks:
NOTE: A few more details. This is a very rough sketch for you. These are not ALL the strategies and it is not ALL the pairs that will eventually be included. This is just what I have built into the website so far. I just wanted to give you a glimpse of the progress that has been made so far and prove to you that it is coming along nicely...