Updates on Signal Service

The signal service (both trial and paid) has been going on well so far. In the past week, we had four 'up' days while Thursday was not good. We came right back on Friday and made close to 200 pips on Friday.

Overall, we have been doing well so far right from the time this service has started and I hope to continue to do a good or even better job in future. Anyone who is interested in joining this service and wants a trial of this service, please mail me at kartram.77@gmail.com

Daily Outlook for EURUSD

Attached is the 1H chart for EURUSD. Yesterday was quite a tough day for trading with the price going back and forth with no clear direction of the trend. I think that was due to a great fight between the bulls and bears trying to pull the price in their direction and i guess the bulls won finally.

There was a very good retracement back into the low 1.38s and we also saw a break of support which led me to believe that there would be a further downtrend. But the price came right back to support turned resistance and broke it back again and settled nicely above the support now.

On the downside, there is strong support at 1.39 and then 1.3860. If this is broken, then we have support at 1.3824 and i do not see price going below this.

On the upside, as before, there should be some very strong resistance at 1.4 and then 1.4050 and if 1.4050 does get broken, we should see price shoot up close to 1.42.

For today, i would expect a slight retracement into the low 1.39s and then i would expect price to get near 1.4 and the PA there would determine whether there will be a further uptrend.

Daily Outlook for GBPUSD

Attached is the 1H chart for GBPUSD. As in EU, this pair has also broken out of the range and has started its fall, though at a much lesser pace than EU which shows that this pair is quite strong when compared to EU.

But in any case, this pair has also broken the range. So we could see a retracement back to the support turned resistance and this could be a good place to place our shorts. So, we could see a retrace to 1.5950 and then we could see a drop.

On the downside, the support are at 1.5900 and then at 1.5870 and then at 1.5830.

On the upside, we should see resistance at 1.5960 and then at 1.6 and this price and 1.6050 has proved to be quite tough resistance for the past few days.

As for today, i expect a small retrace and then a drop towards the mid 1.58s.

Daily Outlook for EURUSD

Attached is the 1H chart for EURUSD. So finally, the range which has been existing for so many days has been broken. The big sized down bar shows the break of support. The low volume of that bar is a bit of a concern though cos usually during break of supports or resistances, the bar is big and the volume is also high.

Now we can expect a retrace back to the support turned resistance at 1.3855. The PA here should tell us the future direction. If the support turned resistance holds during the retrace, then we are going further down. If not, then we are going back up.

On the downside, we have support at 1.3835. A break of that could lead to the price going straight down to 1.3720.

On the upside, we have resistance at the broken support of 1.3860. A break of that could again open up 1.39 and then 1.3950.

For today, i expect a move back up to 1.3860 and as said above the PA there should then determine the next course of action. I would like to favor the downside but the low volume during the break of support is the one which confuses me.

Daily Outlook for GBPUSD

Attached is the 1H chart for GBPUSD. As in EU and as predicted in the articles in this blog, GU had a good move down and then it came right back up to finish the day where it began. The move up was based on good volume, which showed that the move was true and was backed up very well.

Now looking forward to today, there has been a good move up and a bit of ranging during the early part of the day. I would expect GU to move towards 1.600 where it should face a strong psychological resistance and then it should again face a strong resistance at 1.6050 from where i believe there should be a good retracement for atleast 200 pips.

On the upside, as specified above, we should see good resistance at 1.60 and then at around 1.6050 and i dont expect GU to go much above that today.

On the downside, GU should have good support at 1.5930 and then at 1.59. If this breaks, then we should go down to 1.5855.

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Daily Outlook for EURUSD

Attached is the 1H chart for EURUSD. As expected and as specified in my article yesterday, EU went down very well and as specified, it went down till 1.3860. Then the bounce back up came about and this then carried EU right back up to where it was at the start of the day. This shows the strength of EU.

But last few hours EU seems to have been caught in a very tight range. As can be seen from the chart, for the last 8-10 hrs, EU seems to be caught in a range of 30 pips. This shows a very tight range and it also shows that when a breakout happens in either direction, it is going to be fast and strong and it is going to be a big move.

Anyway, on the downside, as specified yesterday, expect some support at around 1.3960 and then at 1.39. If these are broken, expect some strong support at 1.3860. I do not expect this support to be broken.

On the upside, there is strong resistance at around 1.4000 and then at 1.4050. It will take a huge effort for it to break this resistance.

Today, we might be in for another ranging day between 1.3860 and 1.4050 though EU has not shown a clear direction yet. Play the range till the breakout in either direction.

Fantastic Day of Trading

It was a fantastic day for trading with all the expectations coming true. The price of all pairs moved down during the asian session. Then , as expected, there was a push up to catch people who wanted to go long. Once the longs were trapped, the price moved down again.

Then towards the beginning of the US session, there was a move up again and this was a fake move as was evident with the low volume associated with it. So, the low volume could not sustain the high price any longer and the price fell down again.

Then towards the middle of the US session, there was an up move again, but this time with higher volume which showed that there was something in this move. This is where we stand as i write and it would be interesting to see which way the price moves now.

The signals were given in my service accordingly and those who took all my calls made over 300 pips today. Many had to sleep during the London session but they too made more than 100 pips which made it a very satisfactory day for me and the subscribers.