EUR-USD 5 JAN 2009

The EURUSD still trapped in range area of 1.4450 – 1.4250 yesterday. I think the best strategy remains to short around 1.4450 or to long around 1.4250 with tight stop loss. Bullish scenario will be confirmed by a close above 1.4450 today targeting 1.4600 – 1.4800 this week while bearish confirmation will be confirmed by a close below 1.4250 targeting 1.4127 – 1.4000 area this week.

11PIPS WITH ROKOKSALEM

SELL : 1.4413 ET /TP: 1.4402 SL: 50PIP

EUR - USD 14 DEC 2009 ( PROFIT )

nearest bearish target will be at 1.4450. A break below that area should trigger further weakness for the Euro towards 1.4250 area before aim for 1.4050 – 1.4000 area in longer term point of view. On the upside, resistance is seen around 1.4720 and 1.4820 area. Only break above 1.4820 area could be seen as bearish failure testing 1.4950 and 1.5140/50 area.

11PIPS WITH ROKOKSALEM

SELL : 1.4623 ET /TP: 1.4612 SL: 50PIP

EUR - USD 8 NOV 2009 ( PROFIT )

The EURUSD had a significant technical movement yesterday by break below my major trendline support (red) as you can see on my h4 chart below. Price retreated to the upside, tested the trendline but able to stay below the trendline so far. The bias is neutral in nearest term as we still need consistent move below 1.4820/00 to continue the bearish scenario, but this fact indicating potential bullish failure and bearish reversal scenario towards 1.4700 and 1.4625 area. CCI just cross the -100 line up on h4 chart so watch out for potential upside pullback testing 1.4905 – 1.4950 resistance area.

11PIPS WITH ROKOKSALEM

SELL : 1.4825 ET /TP: 1.4814 SL: 50PIP

EUR - USD 07 DEC 2009 ( NOT TOUCH )

The EURUSD had a significant bearish momentum after much better than expected employment data on Friday. US Non Farm Payroll made a huge surprise by fall only -11K in November while unemployment rate fall at 10%. Price bottomed at 1.4821 and closed at 1.4857. On daily chart below we can see that price slipped below my major trendline support indicating critical technical phase which could be a serious threat to the bullish outlook. However, note that we need a consistent move below the trendline support and 1.4820/00 key support level area to confirm bullish failure and begin the bearish reversal scenario towards 1.4625 and 1.4450 in the upcoming week. A failure to do so would surely keep the bullish scenario intact with 1.4950/20 area and 1.5140 resistance area to be tested.

11PIPS WITH ROKOKSALEM

SELL : 1.5017 ET /TP: 1.5006 SL: 50PIP

EUR - USD 4 DEC 2009 ( PROFIT )

The EURUSD attempted to push higher yesterday, peaked at 1.5140 but further bullish momentum was rejected as the pair whipsawed to the downside, bottomed at 1.5037 and closed at 1.5053. The bullish scenario remains intact but price formed a double top formation around 1.5140 area indicating potential downside pullback testing 1.5000 – 1.4950/20 area. Break below 1.4950/20 area should trigger further bearish momentum retesting 1.4820 and the major trendline support area.


11PIPS WITH ROKOKSALEM

SELL : 1.5078 ET /TP: 1.5067 SL: 50PIP

EUR - USD 18 NOV 2009 ( PROFIT )

The EURUSD had a significant bearish momentum yesterday, bottomed at 1.4807 but failed to stay below key support area 1.4820, closed higher at 1.4860 and traded around 1.4887. After failed to stay below 1.4820 yesterday, the pair bouncing to the upside with 1.4950 as potential resistance to be tested. Break above that area should trigger further bullish momentum testing the bearish channel. Bearish correction can only be canceled if the bearish channel violated to the upside.

11PIPS WITH ROKOKSALEM

BUY : 1.4841 ET /TP: 1.4852 SL: 50PIP

EUR - USD 12 NOV 2009 ( PROFIT )

We have important news coming up TODAY, including US Unemployment claims.

Any bad or good news may push the currency pair accordingly.

While on the weekly chart we remain bullish, i am hesitant due to the strong resistance of 1.5060-80+ and the 1100 line for the S&P 500.

A failure to overcome this may encourage the bears to commence attacks on 1.5000 and after which the 1.4967+ area.

Volume may be thin after London’s closure as there is a bank holiday in US.

11PIPS WITH ROKOKSALEM

BUY : 1.4987 ET /TP: 1.4998 SL: 50PIP

EUR - USD 9 NOV 2009 ( NOT TOUCH )

The EURUSD bullish momentum was paused after worse than expected NFP and unemployment numbers. The bullish scenario towards 1.5060 even 1.5300 remains intact. The false breakdown on Tuesday could potentially trigger significant bullish momentum.

11PIPS WITH ROKOKSALEM

BUY : 1.4881 ET /TP: 1.4892 SL: 50PIP

EUR - USD 29 OCT 2009 ( PROFIT )

After violated the bullish channel the bearish momentum seems strong with technical target back towards 1.4500 area. The bias remains bearish in nearest term targeting 1.4580 area but once again, pay attention to the major trendline support.Break above that area should trigger further bullish pressure testing 1.4850 area and might be considered as potential end to the current bearish correction.

11PIPS WITH ROKOKSALEM

SELL : 1.4745 ET /TP: 1.4734 SL: 50PIP