Trading signals, beginning of July 2012

On July 1, 2012 | By | In News, Trading Signals

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See this week’s guest post on Forex Signals and trading signals below by Sammy Mu.

Now is the time for me to be aggressive with buying Euro vs. Dollar. Euro has broken pass thru some very key resistance at 1.2563, which is 5 week Moving average resistance last Friday. Also the big reversal also broken thru key resistance on daily moving averages at MA5, MA15, and MA30. So here is the game plan, Sunday when market opens, ideally market drops in asian session to 1.2625, that’s a short term entry level, I hope it drop bit further, market might go down lower. I actually wish it drops further to 1.2600, at that area, it’s a must buy for me.

So the way I want to buy this is, market start dropping Sunday when it opens and slowly get to our buy levels, if market opens and immediate go up 50 100 pips, then you do not get in, wait for another good entry. Open high is never a good thing, people will start cashing out very quickly. When market drops in Asian session to those levels, you buy. Market in short term might be in overbought situation but as long as market doesn’t break down to 1.2500, I would not sell! This is actually ideal time for me to get in to buy Euro and make some good money. This level if I get in, Euro might be forming a trend for bigger gain.

areas to watch:
1.2750, if you have a profit get out some, market will react here, but when it goes lower.
1.2625, short term buy although market might test lower levels sunday or monday.
1.2600, must buy, ideal buy! At these levels, you must get in. Euro might be forming a trend that last week or two.

Euro/ pound. Euro is actually pretty weak against the pound. Advise to stay out. Monthly candle has barely turn green, it means Euro will go up further against pound short term but I doubt it will be long lived. Next week, Euro/pound might be in a consolidation phase because Euro went up so much against dollar but not so against pound, it is not a good play. I would play Euro/dollar. Short term areas to watch is 0.8100 and 0.8150, those are short term resistance. Buy level will be 0.8050 or bit lower but if 0.8008 is taken out, then you must sell. Again, I would play Euro/dollar because that has the most stable movement and there is less consolidation seems against Euro/pound.

See the attached graph in the top. Good luck =)

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