Daily Outlook for EURUSD

Attached is the 4H chart for EURUSD. As can be seen from the chart, yesterday, we again had a nice breakout and the high of the previous day was broken which was a good sign for the longs. The pair moved up to its next resistance at 1.4160 where a previous high exists.

The resistance proved tough for this pair and hence this pair has since retraced. Now it has come down to be close to its support at 1.4110. I would expect this pair to retrace a bit more and reach 1.4060 where a strong support exists. The fact that this pair has been making some decent progress and has been breaking some good resistances shows us that this pair still has lot of strength left in it.

For today, i would expect this pair to reach 1.4060 and i do not expect this price to be broken. If this price is indeed broken, then this pair should move down further on to 1.4010 and then 1.3950 and then on to 1.3910.

I would expect this pair to make another attempt at the high at 1.4160. The problem for this pair in moving higher is the row of strong resistances that it has on its own. It has resistances at 1.4160, 1.42 and then 1.4250 and 1.4290, all of which are very very strong resistances. This should be an interesting day.

Daily Outlook for EURUSD

Attached is the 4H chart for EURUSD. Yesterday, this pair had a nice small breakout and it went upto the strong resistance at 1.4110. After that, it was faced with a lot of selling and hence this pair broke down and now it trades at around 1.4070.

An important thing to note here in this chart is the bearish pin bar on this 4H chart. It is also from a region od decent resistance which shows that this is indeed a viable pin bar and something to take note of. So today, we have to tread carefully and all longs could be in danger.

Only comforting factor in this is that the price is currently near a very strong support but unless the high of yesterday is taken out, i would expect this pair to slowly move down and again continue to be within the bigger range of 1.38 to 1.42.

For today, on the upside, we have resistance at 1.4110 and then at 1.4160 and then 1.4210. On the downside, the supports are at 1.4060, 1.4000 and then at 1.3960 and 1.3910. For today, i expect some more ranging with bias to the downside.

Updates on Signal Service

The four day break seems to have done a world of good for me. This week has been a great week so far. We have had nice good returns from very few signals which have had a very good success rate. Usually, Mondays are very tough to trade as each trader, big and small, comes in with his own intrepretation of the events over the weekend and tries to trade it that way and that makes the market highly volatile with each one pulling the market in his direction.

But this Monday, we made a killing and made more than 220 pips from just 4-5 trades. Tuesday was a bit of a slow day for the market and for me and we managed to make only about 80 pips. Yesterday was also a very good trade where we took only about 4 trades with very high success and we still ended up with more than 150 pips.

So, overall, this week has been great so far where we have made more than 450 pips over 3 days. Lets hope that the trend continue for the rest of the week as well.

Daily Outlook for EURUSD

Attached is the 1H chart for EURUSD. As is usual nowadays, and i am tired of saying this again and again, we continued to range yesterday as well. Again, with the lack of any direction changing news, this pair was caught in a 120 pips range. It made its way upto 1.4020 and then fell down to 1.3910 and now, as i write, its back up to 1.3975.

This kind of ranging provides us a great way of taking trades and making some easy pips, as long as you use some common sense. Patience and discipline is required for forex trading under all circumstances and thats what is required now as well. Wait patiently for the pair to make its way to the top or bottom of the range and just pick trades in the right direction, with low risk and then you can make some easy pips.

For today, i expect the ranging to continue. The only major news that i can see is the FOMC meeting minutes. This can provide some volatility which might lead to the break of the 120 pip range that we have over the last 2 days but still i expect the pair to stick to the 400 pip range between 1.38 and 1.42.

On the upside, the resistances are at 1.4010 and then at 1.4060. On the downside, the supports are at 1.3950 and then at 1.3910. The SR regions can be easily located by seeing the charts. Just be patient and play the range.

Forex Course Launch

Today, i have decided to launch another very long-standing request from a lot of my members. Lot of people have been asking me when I would be able to launch a forex course.

Today, i am proud to say that i am ready to launch the forex course. I will be covering all topics right from the basics of forex, technical analysis, how to analyse, what to look out for, couple of strategies, how to use Murray Maths etc. right till whatever i know now. I will be covering all these topics in this course as much as I can.

The classes will be over the net and will most involve text chats, charts, tutorials etc. It will be spread over a period of 3-5 months as i want to cover things at a slow and steady pace.

Those who are interested please mail me at kartram.77@gmail.com as i can take in only a limited number of people as i want to pay individual attention to each one who joins the course. Do mail back.

Daily Outlook for EURUSD

Attached is the 1H chart for EURUSD. As expected yesterday, this pair continued to range for the whole of yesterday. There was nothing yesterday that could trigger a break of this range and this range seems very very strong for now. This pair ranged between 1.4010 and 1.3900. This makes it a nightmare for swing traders and a dream come true for range traders.

Anyway, for today, there is a bit of major news which is to be released from the USA. I expect this to cause increased volatility and this pair might test the extremes of its range today as a result of the news today. It remains to be seen whether it can indeed break the range today but i do not expect it to be broken. For the past many weeks, this pair has been trading between 1.38 and 1.42 and i expect this to continue today as well.

On the upside, as yesterday, the resistances are at 1.4010 and then at 1.4060, 1.41 and 1.4160.

On the downside the supports are at 1.39, 1.3855 and a strong support at 1.38.

I expect the ranging to continue today as well.

Daily Outlook for EURUSD

Back after about a week or so.. I am fresh and hopefully stronger and better than before. Now, lets get down to the analysis. This pair still seems to be stuck in a range for the past so many weeks. Though it has had its share of ups and downs and wild swings, you can see that all of this has been within a range and this range has been much smaller when compares to the swings that the other pairs have had.

To me, this ranging has shown the strength of this pair more than anything else. You can see that this pair has not broken down below 1.38 during all these time. Of course, it has not exceeded 1.42 as well but the fact that this pair did not fall when all other pairs did, shows the strength of this pair.

As for today, i expect the ranging to continue as so far, there has not been any trigger for it to break the range. On the upside, the resistances are at 1.3980, 1.4008 and then at 1.4050. On the downside, the supports are at 1.3950, 1.3920 and then at 1.3850. I expect the price to range between these S and R for the whole of today unless there is a major breakout. In such a case, we simply take a trade in that direction.