Euro 60 Minute

Chart courtesy of Dynamic Trader. Data provided by eSignal.

Above is a 60 minute chart with the APP. Resistance is displayed in APP and fib reversal daily chart.

Euro Update

Chart courtesy of Dynamic Trader. Data provided by eSignal.

Further to my earlier post I have just noticed we hit a fib reversal. The daily chart above shows this which is a possible short.

Trichet & Bernanke

Sorry for the late update today.

Both President Bernanke & President Trichet will be speaking this afternoon so I am standing aside and will await this weekends data before placing any further trades.

Hope you all have a good weekend.

No Changes

Nothing has changed. Euro is still in a downtrend although it is having a problem heading toward that direction. At present it is consolidating along the upper trendline which is acting as a resistance.

The CAD is the opposite and in an uptrend still and is also consolidating at the moment.

I am away and will be back tomorrow.

Good luck today.

Overbought

Sorry for not updating yesterday.

We have not dealt above the Euro and Cable trend lines so the trend still remains down. Currently we look overbought so the trend bias should be down. I am looking for shorts on both these and I hve put a further long position on the CAD.

Good luck.

Congratulations Forex Trader

Chart courtesy of Dynamic Trader. Data provided by eSignal.

Above is the Euro Daily chart. Using fib you can work out the analysis for yourself.

I have not added the CAD chart today as I am in a rush this morning but I still say we are bullish.

I wanted to take a moment to congratulate Anurag. I gave my friend Anurag a training course in February this year and since then he has done phonomenally well. Excluding all his other forex trades, he has been trading CAD quite some weeks before since I started mentioning it on here and from my conversation with him on Friday, he so far has accumulated more than £60k in profits.

Anurag works full time as a dentist and is awake 5am in the morning to do his pivots, fib lines and fundamental research before he goes to work. He has put in a lot of hard work within this first year of trading and clearly it has paid off for him. Anurag, well done to you mate, you deserve it!

I am in no way taking the credit for Anurag's success. He has worked extremely hard and in fact now tells me more about fundamentals than I can tell him.