The Euro

Interestingly, my last post and analysis is still valid and should have provided the discerning reader a valuable insight into current eur/usd road map. We have witnessed a decline to 1.3125 which is only a few pips away from our first target of 1.3108 as stated in the last post, a push for the aforementioned should still be in place and a decisive break below the 1.3078 to 1.3031 area should trigger the anticipated bear scenario.

The bulls should be expected to appear around the 1.3078- 1.3031 area but at this point if the markets is going to go down then the bears will take as they would already have been in a full swing momentum by then, we will just wait and see as more analysis follows.

FROM NEXT WEEK, THEY WILL BE A PIP COUNTER WHERE ALL THE PIPS PROVIDED BY THIS BLOG WILL COUNTED, ALL PIPS COUNTED CAN BE VERIFIED BY THE TIME THE ANALYSIS WAS POSTED, SO IN THAT CASE, ENTRIES AND EXITS WILL BE ADDED TO POSTS.

Happy trading!

Euro Outlook

The euro looks set for decline which I am regarding as a correction or a retracement as the point, more evaluation will be carried out as we go along especially around the shaded areas on chart. I would say even if we see an upside move from here, a top should be capped just below or around the 1.3488 resistance zone(just below the 1.3500 level).

By the 31st December 2012, during the London session, it would become clear on what direction price will go first, on the downside 1.3108 will be first target, we might see 1.3836 as second target, and theis downside should bottom around the lows of 1.34xx, when shorts should be covered albeit a downward extension could seen maybe down to 1.32xx, but at that point caution should be taken but nevertheless the movement of price will give more insight before hand.

Consequently, for this bearish scenario to come into actual play a decisive break below 1.3078 should be seen, that is after achieving the first target as above.

Kindly feel free to post your comments, more to follow when the market opens most like during the London session and time allowing will be posting some intermediate trades as well.

* Double-click on chart to larger view

Happy trading!

Truly exciting times lies ahead!!!

Merry Christmas and Happy New Year!

I have been absent from my blog for such a long time and I am using this medium to send my apologia to all my followers and blog visitors alike.

Interestingly, I will be using be using my blog to share my new trading strategies that I  have been testing for over two years now and trading live over 1 year with very consistent results with a relatively very low draw down. There is really no need to blow trumpets here just as the saying goes ' seeing is believing' and experience is the best teacher.

Just as always, whenever I post my trading outlook (signals, calls , recommendations etc just call it whatever you like), it is always posted before the events in other words, it is always posted ' LIVE '. I will also be posting some videos which will include trading set-ups, tutorials, and videos of live trades from inception to conclusion.

The beginning of year is a good time to start trading as it offers numerous opportunities for profitable trading, so there is more than enough to look forward to, kindly stay tuned to my blog as it promises to very exciting with multitudes of pips to made, the results of the performances will speak for itself.

Please subscribe to my blog for truly exciting times lies ahead.

Happy holidays!

Micah.