EUR/USD Climbs up

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Good day to all.
The EUR/USD did move up a bit.
As we get closer towards the NON FARM PAYROLL MAMBO JUMBO, i will be looking towards booking profits for my short term trades.

The currency pair climbs up and tests 1.4910+. Having done so, it retreats to just below 1.4900.

S&P500 enjoys [...]

What is the direction of highest probability today? (05/11/09)

Markets are focusing on the asset purchase program, rather than interest rates, with the market split over a $25b expansion, $50b, or no expansion.

EURUSD Forecast: Euro fight back after FOMC. Technically, false breakdown might lead to further bullish

The EURUSD failed to continue it’s bearish momentum yesterday, even the Fed statement was flat, nothing significant. The way I see it, market opinion was that the economy recovery is still in the right track. The Fed also said that it will keep the rates near zero for “an extended period” which make the Dollar [...]

Daily Forecast for Crosses: November 05

EURJPY Forecast
The EURJPY was technically a mess yesterday. Like I said, with important economic data and events this week, technical failure is not a big surprise and I think it’s not the best time to trade now. On h4 chart below we can see that once again, price break above the trendline but we have [...]

GBPUSD Daily Forecast: November 05

GBPUSD Forecast:
The Sterling was also benefit from Dollar bearish after FOMC yesterday, topped at 1.6596 and closed at 1.6555. Technically on h4 chart below we can see that my triangle has been violated to the upside indicating potential further bullish scenario at least towards 1.6700 area before re-testing 1.7042.  Immediate support at 1.6520/00 area. Break [...]

USDJPY Daily Forecast: November 05

USDJPY Forecast:
The USDJPY had a bullish momentum yesterday, topped at 91.31 but closed lower at 90.84. On h4 chart below we can see that my minor trendline support (former resistance, yellow) did a good job preventing bearish attack. This fact threat  my bearish outlook for sure and the lower line of the bullish channel [...]

USDCHF Daily Forecast: November 05

USDCHF Forecast
The false breakout from the range area on Tuesday proved to lead further bearish momentum for the USDCHF yesterday, bottomed at 1.0125 and closed at 1.0147. However, early today in Asian session the pair rebound to the upside and now back inside the range area. Although I prefer a bearish scenario at this phase, [...]

04 November 09 How to: conduct your own Probability Study

Just remember: The market moves in three trends – Major, Current and 60minute trends. The 60minute trend indicates the direction of highest probability.

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