Euro Doji

We have a Doji being formed on the Euro Daily. This usually represents a reversal. As mentioned I am already short and should you decide to do the same then please ensure you put a tight stop on slightly above 12980 + spread.

I will not post in the morning but will do on Sunday evening with some charts and more detailed analysis.

Have a good weekend.

Euro Rally

I am sorry but there seems to be a technical issue with the website. I updated the site this morning but the post seems to have vanished. In the meantime I will try and repeat the earlier post.
I spent yesterday with Anurag who most of you now know as the dentist/trader who made £60k on the CAD in less than two months. We saw the markets a few times on my laptop, I think we probably didnt realize the amount of real movement we have had until getting home and seeing the market.
The Euro earlier today was just below the 12980 (0.941) which as you all know is a big resistance. I am short again on the Euro with the very tight stop just above the 12980 area. However, if we break that then we could potentially have a lot more upside. The view from the Comms is contrariarn and they are looking at shorts.
I will next update this weekend with some comprehensive analysis on the main currency for you all.

Good luck.

Todays Values

Data provided by eSignal.

Above are todays values. From left to right we have the EURUSD, GBPUSD & USDCAD.

Remember to sell the rallies in a downtrend and buy on the dips. The Euro is still in a downtrend until we break the all important figure which you should all know by now.

The USDCAD pair is still try to break the 1458 resistance and although popped it's head above has not really broken it by any convincing means. The CAD indictaors also show overbought.

Sorry for not providing a post yesterday but I was busy elsewhere all day.

Good luck today.

Short Bias

Chart courtesy of AdvancedGET. Data provided by eSignal.

The trading week has started again and having a look at the Comms, it seems many have orders to open on the short bias for a few currencies.

However, they are long on the USDCAD pair but we do look overbought on it at the moment so lock in profits if you are still in the trade. You will also see we have a divergence on the above 60 minute Canadian Dollar chart.

Comms are very short the Cable so watch that pair.

I have now opened a short on the AUDUSD. 8 Weekly and Daily as well as 34 60 all have bearish crossover and overbought.

As always, please ensure yo do your own analysis.

Good luck today.