For 12th August
EURUSD
EURUSD - Primary Analysis - Aug-12 0445 AM (4 hour)
Not that much movement yesterday in terms of hitting trendlines however if you took a long from yesterdays signal then you could have banked a few pips.
Onto today. Wait until a trendline is hit either top or bottom one . At the top look for good resistance here to come back down short again. If we hit the bottom line beware of taking a short position here , wait till we see a break and then a failure to break back above before jumping in. Its Friday so odd things can happen , especially over the weekend which can cause gaps when the market re-opens.
For 11th August
EURUSD
EURUSD - Primary Analysis - Aug-11 0207 AM (4 hour)
Hopefully you got in on yesterdays signal which was a sell down from the top sloping downtrend line. this should have given you a ton of pips Forex Signal Services Free Signals, eurusd, eurusd alerts Forex Signal Services Free Signals, eurusd, eurusd alerts
So onto today . Yet again the markets were pretty much news driven both from the US and the UK. We are looking at 3 major trendlines on this pair.
1.Look for a bounce at the bottom trendline, however before jumping in here check on the RSI and look to see if that is pointing up as well . Even then be cautious and look for some sort of candlestick pattern to get you in.
2. If no entry but we have in fact bounced from the bottom trendline then look at the centre trendline as a possible place of resistance.For shorts from here.
3 If we shoot through back up to the top trend line then look around here for short positions.
To be honest I would be really careful about going long right now as a drop to 1.40 could just as well be on the cards.
For 9th August
EURUSD
EURUSD - Primary Analysis - Aug-09 1852 PM (4 hour)
Looks like a squeeze coming here . On the 4 hr chart we have support at the bottom and resistance at the top and the two are getting very close.
So sit tight for now and watch for a break of the trendlines. If we see a break to the upside then wait for the price action to bounce off the top trendline for a sell down. So that will probably be short from either 1.4350 or 1.44 back down to the 1.43 area. Stop loss around 1.4450. Look for a test and failure of the topline and a candlestick alert to get into trade.