• Spot EUR/USD Forecast for 02/11 by Daytradeideas.com

    EURUSD could not quite make it to resistance at 1.3451 where we looked to take profit on longs & is hovering around 1.3375/70. It does look like we will test support at 1.3310/1.3290 today for a buying opportunity with stops needed below 1.3265 which risks further losses down to 1.3190/80. 1.3415/20 is resistance today to exit any longs and try shorts up to 1.3450/60. Stops needed above 1.3500 for 1.3552.
  • USD/JPY Weekly Outlook and Trading Idea

    The market was quite volatile last week. USD initially rose to as high as 94.04, but then pulled back below the important Fibonacci level at 93.12. Still, the prices are firmly above the rising 21-day moving average, so the uptrend from the Sept 2012 low is still considered a strong one. And as long as the prices hold abv 92.00 I expect to see gains twd at least 95.30 and perhaps as high as 98.00.
  • Spot EUR/USD Forecast for 02/08 by Daytradeideas.com

    EURUSD held resistance at 1.3540/60 as predicted but then broke support at 1.3465/55 to hit 1.3375 which we saw as a good buying opportunity with strong support. The low was in fact 1.3371 so this trade has worked perfectly as we look for resistance at 1.3451. We can take profit here in case of a move back to 1.3375/70 support but be ready to buy back in to longs no a break higher looking for 1.3501. We can probably go no further today but if we push through 1.3445 we should find a selling opportunity at 1.3581. A break of 1.3350 however needs to trigger stops as we target 1.3310/1.3290 & an excellent buying opportunity with little chance of any further losses.
  • Spot EUR/USD Forecast for 02/07 by Daytradeideas.com

    EURUSD held Tuesday’s high of 1.3598 as we look for a test of good support at 1.3465/55 today & this could hold the downside. However longs need a stop below 1.3425 for 1.3375 and again this should be seen as a good buying opportunity with strong support. Resistance at 1.3540/60 could cap today with the daily picture calling for further profit taking but a break higher hits 1.3596/98 with further tough resistance at 1.3615. It should be worth attempting shorts here with a stop above 1.3660 as a break higher could lead us back to 1.3700/711 highs.
  • USD/CHF may see further downward moves

    After a brief test of 0.9022 the psychological support of 0.9000 ranges was keeping the currency pair in a sideways mode for past few days. The price action channel is just broken. This indicates that the pair may go further down to test 0.9022 and possibly below 0.9000.
  • Spot EUR/USD Forecast for 02/04 by Daytradeideas.com

    EURUSD broke below our first support at 1.3555/1.3530 as we head for very good support at 1.3465/55 and a buying opportunity today. However longs need a stop below 1.3425 for 1.3375 and again this should be seen as a good buying opportunity with strong support. Resistance at 1.3540/60 could cap any move higher today.
  • GBP/USD Weekly Outlook and Trading Idea

    What a market: EUR/USD is moving sharply up and GBP/USD is moving sharply down! And we are positioned correctly in both markets! Now, the daily chart is quite negative here and further losses are expected this week. However I think that this market is not ready to move below 1.5260 key chart and Fibonacci level. So most likely we will see a decline twd this key level followed by another strong recovery. On the upside, a rally abv 1.5890 seems unlikely at this stage. But only a move abv 1.5990 will negate the current bearish view....
  • Spot EUR/USD Forecast for 02/04 by Daytradeideas.com

    EURUSD burst through major long term resistance at 1.3479/91 and the 200 week moving average at 1.3529 last week, extending the 5 month uptrend and we have now hit our upper target of 1.3690 as hoped. We topped out just above at 1.3711 and a break above here this week then targets 1.3833/37. We could see the market cap here at this stage.
  • Spot EUR/USD Forecast for 02/01 by Daytradeideas.com

    EURUSD burst through major long term resistance at 1.3479/91 and the 200 week moving average at 1.3529 this week and we have now hit the next target at 1.3609/14. A push through here then sees 1.3653 and possibly 1.3690 above is achievable next week if not today.
  • Spot EUR/USD Forecast for 01/31 by Daytradeideas.com

    EURUSD burst through major long term resistance at 1.3479/91 and the 200 week moving average at 1.3529 which was completely unexpected. The close above this level now opens the door to 1.3609/14 then 1.3653 and possibly 1.3690 above is achievable this week. We are of course very over bought but this is being ignored. Any drift lower finds support at 1.3516 but below here we may see 1.3471 with strong support at 1.3448/435 likely to provide a floor if we fall this far.
  • Spot EUR/USD Forecast for 01/30 by Daytradeideas.com

    EURUSD has hit major long term resistance at 1.3479/91 from the 2012 high and weekly 50% Fibonacci target plus we have the 200 week moving average just above at 1.3529. We could hover around this area for a few days now while bulls and bears battle it out. With the market very over bought on weekly and daily charts the 1.3479/91 resistance area could trigger profit taking after 6 months of strong gains and it may not be wise to run longs any further in case we hit selling pressure. Even if we do push higher we run straight in to 1.3529 and so if attempting shorts here we would use a stop above 1.3580.
  • Spot EUR/USD Forecast for 01/29 by Daytradeideas.com

    EURUSD failed just below the 2012 high of 1.3486 at Friday’s high of 1.3479 to form a very small double top. We are approaching major long term resistance here with weekly 50% Fibonacci target of 1.3491 and again this is a very important long term resistance level plus we have the 200 week moving average just above at 1.3529.
  • Spot USD/JPY Forecast for 01/29 January by Daytradeideas.com

    The USDJPY drifted lower from 91.26 to test support at 90.50 and bottomed at 90.40. Below here we look for 90.04 to trade. Unlikely we fall any further for today but look for 89.66 then 89.28 as further support if we break lower. Resistance is at the highs of 91.26 but above here we are looking for 91.48 as the next target. This may trigger some profit taking so watch for a pull back but if we break higher again in this powerful run look for 92.08/12.
  • Spot EUR/USD Forecast for 01/28 by Daytradeideas.com

    EURUSD broke resistance is at 1.3395/1.3405 but failed just below the 2012 high of 1.3486. We are approaching major long term resistance now here therefore. The weekly 50% Fibonacci target of 1.3491 sits just above here and again this is a very important long term resistance level plus we have the 200 week moving average just above at 1.3529.
  • EUR/USD Weekly Outlook and Trading Idea

    After spending a couple of weeks in a small sideways consolidation below 1.3400, EUR/USD broke out last week. Thus, our bullish view has been confirmed. The uptrend remains very strong and gains twd 1.3720 and possibly twd 1.4045 are expected in February. On the downside, only a move below 1.3260 level will negate this bullish outlook and will signal a deeper pullback twd 1.3000. With this in mind, we can raise the stop to just below 1.3260.
  • GBP/USD Weekly Outlook and Trading Idea

    The decline is not as fast as we wanted, but still the prices have broken below the 1.5820 chart support and we can now confirm the completion of wave E (and therefore wave (E) as well) on the chart above. The next potential support can be expected at 1.5680 and then comes the very important 1.5260 level (honestly I don't see much support between 1.5260 and 1.5680).
  • USD/JPY Weekly Outlook and Trading Idea

    There was a small dip earlier in the week, but then USD resumed its strong uptrend vs JPY again and made new highs for this bull market. The daily chart remains in very strong uptrend but the market is also quite overbought. But overbought does not mean sell, so it is stupid if one tries to short this market now (take a look at the chart and you will see that's a suicide). So we can expect higher prices twd 92.00 and 93.12 in the coming week or so.
  • Spot EUR/USD Forecast for 01/25 January by Daytradeideas.com

    EURUSD has been stuck in a range from 1.3270/50 up to 1.3395/1.3404 for the past 2 week now. W can trade this range while we wait for a break in either direction.
  • Spot EUR/USD Forecast for 01/24 January by Daytradeideas.com

    EURUSD resistance at the week’s high of 1.3372 and we have resistance again at 1.3395/1.3405 which should remain a very tough obstacle. A good chance therefore of a high for the day again if tested with the daily stochastic now signalling we have seen a top for this market. We also have a double top pattern to support this theory and could head lowing in the days to come. However if we do break 1.3415, the next target of 1.3491 could be achieved.
  • Spot EUR/USD Forecast for 01/21 by Daytradeideas.com

    EURUSD did retest 1.3395/1.3405 resistance on Friday and we warned of a strong chance that the market could not break higher. A top was seen here as expected and 1.3325/15 support is being tested but if we move below 1.3300 we could continue lower towards 1.3260/30. Exit all shorts and buy in to longs here expecting a good bounce. We do need a stop loss below 1.3200 however for a test of the next support at 1.3150/25 which should offer an excellent buying opportunity.

Pages