EUR/USD Strategies on July 17, 2009

09.43 AM (GMT+7)



Awaken this morning, have cold coffe and soon turn on my computer,this is friday and it's always interesting trading in friday. I'm still on my option: prefer to buy EUR/USD but does not mean I don't think about possibility bearish.From this 30 minutes's chart shows price action already through EMA 66, this is could be a warning, it will turn to bearish soon after EMA 5 (blue) and follow by EMA 20 ( green) going through EMA 66 (red) I may will change, prefer to sell EUR/USD. But meanwhile I stick on my plan : bullis are idea for today.


EUR/USD - Time Frame 30 minutes
My nearest resistant is the previous EMA movement, level which is EMA 5 crossed down to EMA 20 at 1.4134 area as the comfirmation reverse from 1.4166 continue. In my view, price seems like want to push 1.4070 and if it's happen and steady it could test 1.4044 which is my key level, if steady below 1.4044 I believe it might change direction for next several days. Oposite, if price could not break 1.4070 or it break but bouncing up, I'd prefer in my plan, EUR/USD might goes up for more, and if break 1.4134 I think it will re test 1.4166 and if steady it can up for more to 1.4202 as resistant and would hold EUR/USD reach 1.4310.

Based from that I wrote above, I already set pending order. I set Buy Stop at 1.4135, my Stop Loss at 1.4095 and my target at 1.4185

UPDATE - 01:36 PM (GMT+7)

My pending executed but it failed hold and fall to my SL. Bad begining for today, loss 40 pips. May be I can catch it latter, now I'm just wait for EUR/USD



UPDATE - 09:35 (GMT +7)

EUR/USD failed through 1.4044, as my main plan, now I'm hoping Eur/USD will test today's Hi. This bullish pattern now clearly shows at both 30 minutes and 15 minutes chart. I've already take one Long position bye market price at 1.4123 with 1.4093 as my Stop Loss while target I leave it open. I will keep watching it and decide next move later


TF 30 minutes:
















TF 15 minutes: