SignalTrader.com - EUR/USD Daily Outlook, Apr 11, 2011

SignalTrader.com - EUR/USD Daily Outlook, Apr 11, 2011

Postby SignalTrader » Mon Apr 11, 2011 1:25 pm

Technical Overview:
EUR/USD technical analysis picture is mixed. After a huge rally last week, the pair is hovering around 1.445. Looking at the Daily chart we can see that the pair's price is still moving between the bands of the upward channel. Yet, the RSI indicates overbought levels. Looking at the 30-minute chart, the picture is bullish. The pair rally was blocked at the top red band, and now it is consolidating around the middle blue band. In addition, MACD is signaling an opportunity for regaining bullish momentum.
At the current levels we are looking for LONG positions.

Image

Image

Trading Idea:
Best levels to enter LONG positions are between 1.444 and 1.445. Target is at the top red band at around 1.455. Stop loss is at 1.44.
SHORT positions should be taken by breaking below 1.44 with a stop loss at 1.443 and take profit at 1.432-1.434.

Analysis by SignalTrader.com – the leading solution for
Automated Trading. Autotrade on Forex, Indices and Commodities.

RISK WARNING: Trading foreign exchange (“Forex”), Commodity futures, options, CFDs and SpreadBetting on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial adviser if you have any doubts.
SignalTrader
 
Posts: 26
Joined: Wed Mar 09, 2011 2:47 am

Return to Signal Trader Daily Outlook