Week trade

Sorry been busy. A total of +170 for the week and I was out of the market since yesterday before Europe opened. Nonetheless, watch out for the weekly analysis up before Monday. Have a good weekend.

EURUSD Scalps

Done for the day +22. Week to date +144.

EURUSD Scalps

Made +20 scalping short during Asian session.
Missed the Europe session as I had errands to run. Europe pushed it down but brought it up after the London hourly candle.
I took the opportunity to short during NY session and scalped +50 pips. I think there is more room for the bears but I'm not a fan of the NY session and missing my sleep over that.

Total of +70 today and I'm out till tomorrow.

EURUSD Scalps

Yesterday, we saw the Asian and Europe session bringing this pair down to as low as 1.3876 but NY brought it up to about 1.3988 (high of the day was the Asian session). Very good movements. I managed to make +52 scalping this pair from that 112 pip movement.

EURUSD for 6 – 10 July 2009

Sun - Jul 05 09

Last Week (29 June -3 July)

O: 1.4069 H: 1.4200 L: 1.3926 C: 1.3972

Fundamentals for 6 – 10 July 2009
Mon – 10pm: USD ISM Non-Manufacturing PMI
Fri – 8.30pm: USD Trade Balance

WEEKLY

• Support levels at 1.3830 1.3879, 1.3930
• Resistance at 1.4020, 1.4107, 1.4183 and 1.4315
• Weekly has formed a closing wedge and we will not be expecting big moves this coming we
• If 1.4183 is broken, this pair may reach up to 1.4234.
• However, the outlook for this pair is still bearish and we should be looking for opportunities to short this pair.
• Any longs taken, should be for scalps.

DAILY

• We have the possibility of a bear flag forming on the daily chart.
• Immediate resistance at 1.4063.
• If the market is able to trade below the closing price of last week upon tomorrow’s market open, the potential for this pair to reach 1.3782 is high
  

HOURLY

• On the hourly, the selling strength is stronger than the buying strength.
• This pair may open above the closing price and we may expect to see 1.4020 for the day.
• Any trades done tomorrow will be on price action and I would like to wait and see how the daily candle closes on Monday for the trend direction as I think it may be a whipsaw day.
  

Out for the week cos NY is closed today.

Aite, I'm +142 pips for the week scalping the EURUSD. NY is closed for the day and I think I deserve a break for now. Till next week ... weekly forecast will be up again.

Scalping Update

Made +50 pips so far scalping EURUSD. I won't be posting charts on scalps.