$ £ € ¥
GreenForexTrading.com
ForeX forX-tra Gr€€n
Hi everyone,
In this e-mail I am going to give you my view on the markets for Thursday the 24th to Friday the 25th of March 2011.
NOW THE COLLAPSE SHOULD BEGIN. With each subsequent bounce becoming smaller and smaller in the USDX, a fast move to 75 is in motion followed by a collapse to as low as 72 as the USDX is now marginally below a zone of weekly support at 75.5-76.5. Finally, in the broader context, the monthly chart shows that the rising trend line that forms the bottom of a reverse pennant formation is now at 76.5 and a decisive breakdown from that pennant to below 75.5 (USDX now at 75.4) would have serious implications regarding the potential downside.
Continuation entries into U.S. Dollar denominated longs on any USDX strength for both scalp and longer term positions FOR Friday as this has been the pattern for the last two weeks. Witness a weekly PPO SELL signal in alignment with a new daily SELL. So look to go long U.S. Dollar denominated pairs on any weakness (USDX strength) into some retracement zones, the USDX is looking pretty sick now and due for a breakdown, as seen in the USD daily and weekly chart here http://www.stockcharts.com/charts/gallery.html?$USD.
The EUR is the inverse of the USDX and with the backdrop of a PPO that is under a daily BUY signal against a weekly BUY signal extended from the 50-day moving average, and the bounce here looks to continue and now look for some bottom action on lesser time frames to enter and go long. Now look for 1.434, and with retrace to 1.405 expected and achieved, now 1.425, 1.434, 1.45 and 1.50 can be seen in short order, as can be expected on future dollar weakness as seen in the chart here, http://www.stockcharts.com/charts/gallery.html?$XEU. Place your trades accordingly. All charts courtesy of www.stockcharts.com.
The GBP has seen some serious choppy swings and a reversal upon reversal bar on the daily but now watching it with a long bias and now looks in good BUY area at the 50-day moving average. A new PPO BUY signal rolled over to neutral against the backdrop of a weekly neutral signal makes cable choppy as of late. All these cross-currents still make cable a cautious long play, as seen here, http://www.stockcharts.com/charts/gallery.html?$XBP.
The JPY caught the “safe-haven” BID and intervention is again in the cards and the USD/JPY 80.0 level is where some nimble BUYS can be set as that area will be defended at all costs with newly printed yen. No other recommendations on JPY that can be played as seen on the chart given here http://www.stockcharts.com/charts/gallery.html?$XJY.
This sessions’s activities and reports of consequence are:
1. Fri. Mar. 25, 2011 - (5:00am EST) EUR German Ifo Business Climate and EU Economic Summit.
The swing trade for today’s Asian-London-U.S. session is to BUY the EUR/USD @ 1.4147-1.4154 with a STOP @ 1.4134 and a TARGET of 1.4250 for 110PIPS.
That's it for today. Remember that I trade in the Live Forex Trading Room between 1am-6am Eastern Time. I will be hosting my regular 3-4 hour session and assessing and exploiting PIP opportunities as they arise.
Enjoy trading and good luck everyone!
Trade with Mr. GREEN for $49$ for a 1 week trial. Don’t miss out on more PIPS!!!
For those who join with this special, the service costs only $179$/month after the trial expires, unless you cancel the membership. Trades are issued in real time, including exact entries, exits and detailed explanations. The service costs $179 per month. So go to GreenForexTrading.com now and take advantage of this offer.
Mr. Green
Risk Warning! Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. 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 advisor if you have any doubts. All information posted on this website is of our opinion and the opinion of our visitors, and may not reflect current situations and occurrences. Please, use your own good judgment and seek advice from a qualified consultant, before believing and accepting and acting upon any information posted here or on this website.
No comments:
Post a Comment