Quick update on PipHut premium (I've been getting a lot of emails/messages about it recently and haven't had time to respond to them all, sorry): the signals are still running great with great results - it is just the 1000's of lines of code you have to write to integrate that with a website that make it hard. In hindsight maybe I should've been a bit more cautious in my timelines but I was excited about the service and wanted to share that excitement with you all. Though all I can promise is soon for a release date, I do promise that it will be worth the wait. It is much, much more than just entries/exits - it is like having a team of forex ninjas working out of your spare bedroom, telling you all the ins and outs of the marketplace (only slight exaggeration).
Hold tight, and sorry for the delays :).
Daily Outlook: Signals are mixed at the moment.
We are resting on rising trend support right now (bottom thick blue line). Short-term trend is bullish as long as we stay in this bullish channel, with a sustained break below 1.2570 opening up 1.2470 for a re-challenge. But the bears have managed to make quite a push on Friday making any long trade at these levels seem a bit more risky, but there is no reason to jump on the short-term bearish bandwagon quite yet either.
Furthering hampering the bullish trades are cascading bearish breakouts (big drop, consolidation, big drop, consolidation...) on the 1h charts.
Trading Idea: Though the outlook is mixed I will look for a long with 4h confirmation near 1.2570 with targets at 1.2595, 1.2625, 1.2655 and 1.2690 for 120 pips profit.
A much more aggressive trade would be short on a sustained break of 1.2560 on the 4h charts, and yet another aggressive trade would be a short on a failure to stay above 1.2670 on another rally.