Forex618 Daily Currency report

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[forex618]

forex-science.com Daily Currency report for Thursday September 13 2007

This Week's Economic Calendar
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Date ET Release For Actual Briefing.com Consensus Prior Revised From
Sep 10 15:00 Consumer Credit Jul $8.0B $9.5B $13.2B
Sep 11 08:30 Trade Balance Jul -$58.0 -$59.0B -$58.1B
Sep 12 10:30 Crude Inventories 09/07 NA NA -3972K
Sep 13 08:30 Initial Claims 09/08 325K 330K 318K
Sep 13 14:00 Treasury Budget Aug -$100.0B -$85.0B -$64.7B
Sep 14 08:30 Current Account Q2 -$192.0B -$190.0B -$192.6B
Sep 14 08:30 Export Prices ex-ag. Aug NA NA 0.0%
Sep 14 08:30 Import Prices ex-oil Aug NA NA 0.2%
Sep 14 08:30 Retail Sales Aug 0.6% 0.5% 0.3%
Sep 14 08:30 Retail Sales ex-auto Aug 0.0% 0.2% 0.4%
Sep 14 09:15 Industrial Production Aug 0.4% 0.3% 0.3%
Sep 14 09:15 Capacity Utilization Aug 82.1% 82.0% 81.9%
Sep 14 10:00 Business Inventories Jul 0.3% 0.3% 0.4%
Sep 14 10:00 Mich Sentiment-Prel. Sep 83.0 83.5 83.4





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EUR/USD

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.3550

Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after an entry signal.

Medium term: The euro has broken above the large flag formation which has dominated the technical picture in 2006. Now, whilst above 1.2900 (1.2800 max), the euro remains in an uptrend which is heading back towards 1.3800, and possibly higher still, towards 1.4100.

Today's trade suggestion: The euro has made a new all time high, with 1.3920 as the new mark. We have consolidated quietly beneath here, but it looks as if we will be moving higher before the weekend. The strategy for today is to buy on dips to around 1.3750/30, but it is unlikely we will get there before another rally. There are also strong possibilities of counter-trend short positions simply due to the fact that the Euro is very overbought and at such extreme levels. However, we won't be rushing into these unless there are very clear signals of reversal around the 1.4000 (a BIG level) or 1.4100 levels. Watch price action carefully at these levels and be prepared to act decisively and aggressively to catch the large potential retracements from there (remembering to keep stops tight!)

Key G7 Support levels: 1.3750

Counter-trend opportunities: Sell 1.4000/1.4100

 

[forex618]

theradersclub.com-daily reports

March 30, 2009 [FOREX REPORT]
G7 FOREX REPORT
All trades are subject to a clear signal given as per the G7 system at Forex trading videos|forex reviews|forex trading systems
EUR/USD
Weekly Trend direction: Bearish
Weekly trend reversal level: 1.3740
Key G7 resistance levels: 1.3380, 1.3428, 1.3480
Counter-trend opportunities:
Strategy: Whilst below the weekly trend reversal level, sell rallies to resistance levels
after an entry signal.
Today's trade suggestion:
More drama on Friday, as the euro sold off sharply later in the session. This has formed a
perfect weekly “tweezers top” and very close to a “dark cloud cover”. Because of this, we
have reversed the weekly direction to short, with the reversal level at the top of the
tweezers at 1.3740. We now look to sell the euro on rallies, with the strongest resistance
at 1.3428 (the 50% Fibonacci retracement level and the previous support. There are other
lesser resistance levels either side at 1.3380 and 1.3480. Watch and wait for a clear G7
entry signal before selling, with a target of 1.3200 and then the key 1.3000 level.
Summary:
Sell rallies to the resistance levels above only after a clear G7 entry signal. Target
1.3200 and then 1.3000

 

[forex618]

thetradersclub - Daily report EUR/USD

March 31, 2009 [FOREX REPORT]
G7 FOREX REPORT
All trades are subject to a clear signal given as per the G7 system at our site
EUR/USD
Weekly Trend direction: Bearish
Weekly trend reversal level: 1.3740
Key G7 resistance levels: 1.3350, 1.3428, 1.3480
Counter-trend opportunities:
Strategy: Whilst below the weekly trend reversal level, sell rallies to resistance levels
after an entry signal.
Today's trade suggestion:
Little change since Monday, and the strategy remains the same: More drama on Friday, as
the euro sold off sharply later in the session. This has formed a perfect weekly “tweezers
top” and very close to a “dark cloud cover”. Because of this, we have reversed the weekly
direction to short, with the reversal level at the top of the tweezers at 1.3740. We now
look to sell the euro on rallies, with the strongest resistance at 1.3428 (the 50% Fibonacci
retracement level and the previous support. There are other lesser resistance levels either
side at 1.3380 and 1.3480. Watch and wait for a clear G7 entry signal before selling, with a
target of 1.3200 and then the key 1.3000 level.
Summary:
Sell rallies to the resistance levels above only after a clear G7 entry signal. Target
1.3200 and then 1.3000

 

[forex618]

theradersclub.com-daily report EUR/USD

April 20, 2009 [FOREX REPORT]
G7 FOREX REPORT
All trades are subject to a clear signal given as per the G7 system at Forex trading videos|forex reviews|forex trading systems
EUR/USD
Weekly Trend direction: Bearish
Weekly trend reversal level: 1.3400
Key G7 resistance levels: 1.3100/3130, 1.3180, 1.3230, 1.3300/20
Counter-trend opportunities: 1.2950
Strategy: Whilst below the weekly trend reversal level, sell rallies to resistance levels
after an entry signal.
Today's trade suggestion:
Crunch time, as the big 1.3000 gave way in Asia today. Although the medium term
directions for the majors are uncertain to say the least, this week, the euro remains
bearish according to our model, and we look to sell rallies to resistance levels. The obvious
level is 1.3100/20, where we have found strong support in the last few weeks, and it
should act as a resistance level to any counter-trend rallies. There are other levels above
there which also might come into play if 1.3100 is broken. We will look to sell the euro on
any rallies to 1.3100/20, after a clear G7 entry signal is seen. If we manage to break
above there, keep an eye on the levels above, as long as we remain below the weekly
reversal level at 1.3400.
Note that the current price of 1.2950 is the 61.8% retracement of the last rally, and we
might see a strong bounce from here in the early part of the week. (see weekly chart)
April 20, 2009 [FOREX REPORT]
Summary:
Sell rallies to the resistance levels above only after a clear G7 entry signal. Target
1.3000 and then 1.2720. Possibly try tiny counter trend longs from 1.2950.