March 16, 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: Bullish
Weekly trend reversal level: 1.2550
Key G7 support levels: 1.2950, 1.2850, 1.2750
Counter-trend opportunities:
Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after
an entry signal.
Today's trade suggestion:
The euro has maintained upward momentum and there is no change to the strategy: Last
week’s bullish candle was confirmation that we may well have found a medium term
bottom in the euro. We have all but reached the key 1.3000 level, and after closing above
here on a daily basis, we will be turning our eyes towards 1.3300 and 1.3600 (see weekly
chart Fibonacci levels). For now we look to buy on dips to the levels above with an initial
target of 1.3000 and then 1.3300. The euro has been kept quiet for the past 6 weeks, so
this week could be a bit more dramatic.
Summary:
Buy on dips to support levels (after a reversal signal), stops below the reversal
signal, target 1.3000, then 1.3300.
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: Bullish
Weekly trend reversal level: 1.2550
Key G7 support levels: 1.2950, 1.2850, 1.2750
Counter-trend opportunities:
Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after
an entry signal.
Today's trade suggestion:
The euro has maintained upward momentum and there is no change to the strategy: Last
week’s bullish candle was confirmation that we may well have found a medium term
bottom in the euro. We have all but reached the key 1.3000 level, and after closing above
here on a daily basis, we will be turning our eyes towards 1.3300 and 1.3600 (see weekly
chart Fibonacci levels). For now we look to buy on dips to the levels above with an initial
target of 1.3000 and then 1.3300. The euro has been kept quiet for the past 6 weeks, so
this week could be a bit more dramatic.
Summary:
Buy on dips to support levels (after a reversal signal), stops below the reversal
signal, target 1.3000, then 1.3300.