No Updates !!??

Many of you might have been wondering on how i have not been updating this blog for the past couple of days. In fact, i have also not given signals nor written any articles, nor posted anything on forums for the past couple of days. The main reason for this has been the fact that i have been a bit busy with some personal work and hence decided to take a break from forex for this week.

Forex is a tough and taxing thing and it needs me to always be on top of it to write/give proper analysis. So, instead of me spending less time on it and thus giving wrong analysis, i thought i would rather take a full break and come back stronger than ever from next week and spend more time in analysis so that i can pass on the same to you guys. So, its time for a break this week.

But this week, i have been utilising it very well to spend time with family and also work on our automated forex system along with Richard. Working on this has been a fascinating experience so far. It amazing how much of hard and thorough work is involved in this and how much of coding we have had to do. We have had to import data, write macros, check the history, collect data history, format them into the way we want it, run it through the software, optimize it, change parameters, re-optimize it. HMMM...Thats a lot of work...Isnt it??!!

But well worth all the effort so far as can be seen in our results for GU. Now we are optimizing it for GBPCHF and EURJPY and we should have them ready in a couple of months time and then we will have a better system and even better results !! Quite amazing to think of the potential.

Already, we have been contacted by a couple of funds who have expressed interest and we are thinking of having our own fund along with being traders for these funds as well. We will have to see how things go. Thats all for now !!

Daily Outlook for EURUSD

Attached is the 1H chart for EURUSD. As expected, this pair continued to range yesterday as well though the low of the range was a bit less than what was expected. But considering the fall in other pairs like GU, GJ etc., the fall in this pair was smaller and also within the expected range.

After the fall yesterday, we have seen this pair again move up into the nice range that it has been for the past so many days. Not much of a major news is expected from any country today except for a bit of news from GB. So, i do not expect this pair to be affected much and i would expect this pair to continue to range today as well within the ranges that were mentioned yesterday.

What has also been shown yesterday is the strength of this pair in the fact that this pair has refused to fall even considering the huge fall in other pair. So buying dips is the way to go on this pair.

Just to repeat, on the downside, this pair has support at 1.3920 and then at 1.3885 and i do not expect this support to be broken today. On the upside, the resistance would be at 1.40 and then at 1.4060 and then a strong one at 1.41. Expect more ranging today with bias to the upside.

Daily Outlook for EURUSD

Attached is the 1H chart for EURUSD. As can be seen, the week has started quite badly for this pair. It has gone down to its support level at 1.3950 and now has just about started to pick up. The main point to note here is that this pair is still within its range in which it has been for the past 3-4 weeks. I do not see this range being broken anytime soon. Unless something drastic happens, i dont see this range being broken. If and when it does, it is going to be a very big move.

There is not much news during the day but the US markets would be back after the long weekend and this could make the markets interesting today. I dont expect the range to be broken today as well.

On the downside, this pair has strong support at 1.3950 and then a huge support at 1.3920 and i do not expect this support to be broken today. On the upside, the resistance is at 1.40 and then at 1.4050 and a strong one at 1.41.

I expect this pair to range between these supports and resistances today.