EUR - USD 1 MARCH 2010

EURUSD attempted to push higher on Friday after failed to break below 1.3450 area (potential nearest term bottom), slipped above the minor bearish channel indicating potential upside correction especially if price able to break above 1.3690 targeting 1.3750 – 1.3850 resistance area . However the main trend should remain bearish and I still prefer a bearish scenario with sell on rallies strategy. The bias is neutral in nearest term.

11PIPS WITH ROKOKSALEM

BUY : 1.3643 ET /TP: 1.3654 SL: 50PIP

EUR - USD 24 FEB 2010 ( NOT TOUCH )

The EURUSD attempted to push higher yesterday, topped at 1.3691 but further upside correction was rejected as price whipsawed to the downside, violated the minor bullish channel, bottomed at 1.3496 and closed at 1.3506. This fact as an ending to the bullish corrective movement at this phase and continue the bearish scenario with nearest technical target around 1.3400 – 1.3340 area.

11PIPS WITH ROKOKSALEM

SELL : 1.3633 ET /TP: 1.3622 SL: 50PIP

EUR - USD 23 FEB 2010 ( PROFIT )

The EURUSD didn’t make significant movement yesterday. The main trend remains bearish but as you can see on my h1 char below price still move inside the minor bullish channel indicating the bullish corrective movement actually still intact with technical target around 1.3750 area but we need a consistent move above 1.3650 to continue the upside corrective movement. The bias is neutral in nearest term but I still prefer a bearish scenario as traders’ sentiment for Euro zone fundamental situation remains negative.

11PIPS WITH ROKOKSALEM

SELL : 1.3641 ET /TP: 1.3630 SL: 50PIP

EUR - USD 9 FEB 2010 ( PROFIT )

The EURUSD made indecisive movement yesterday. Price attempted to push higher, topped at 1.3713 but closed lower at 1.3647. We have nothing significant so far and the market seems consolidating but still in a bearish scenario. However the hammer candlestick pattern I showed yesterday, remains indicating potential upside correction testing 1.3750 key resistance area and only a break below 1.3585 could cancel the bullish correction scenario, continue the bearish momentum targeting 1.3490 – 1.3400 area this week.

11PIPS WITH ROKOKSALEM

SELL : 1.3881 ET /TP: 1.3870 SL: 50PIP

EUR - USD 1 FEB 2010 ( PROFIT )

The EURUSD continued its bearish momentum on Friday, bottomed at 1.3862 and closed at 1.3863. This fact should keep the bearish scenario intact testing 1.3750 key support area. Break below that area should trigger further weakness for the Euro targeting 1.3490 this week. However CCI just cross the -100 line up on h1 chart suggesting potential minor upside correction testing 1.3925/50 area. Break above that area should trigger further bullish correction towards 1.4000/30 area.

11PIPS WITH ROKOKSALEM

SELL : 1.3905 ET /TP: 1.3894 SL: 50PIP

EUR - USD 22 JAN 2010 ( LOSS )

EURUSD continued its bearish momentum yesterday, bottomed at 1.4080 and closed at 1.4104. The combination of triangle and 1.4250 key support level breakdown produced significant power to the bearish pressure. The bias remains to the downside targeting 1.4000 psychological level. Break below that area should trigger further bearish scenario towards 1.3750 in longer term point of view. Immediate resistance at 1.4150. Break above that area should trigger further bullish correction testing 1.4250 area but I prefer a bearish scenario at this phase and stay with sell on the rallies strategy.

11PIPS WITH ROKOKSALEM

BUY : 1.4085 ET /TP: 1.4096 SL: 50PIP

EUR - USD 12 JAN 2010 ( PROFIT )

As I had expected, the EURUSD had a bullish momentum yesterday after breakout from the range area, topped at 1.4555 and closed at 1.4513. However earlier today in Asian session price retreated lower, traded around 1.4490 , indicating limited bullish momentum so far. The bias is neutral in nearest term but the bullish scenario targeting 1.4600 remains intact as long as price stay above 1.4450 area. CCI just cross the 100 line down on h4 chart suggesting potential further downside pressure testing 1.4450.

11PIPS WITH ROKOKSALEM

BUY : 1.4428 ET /TP: 1.4439 SL: 50PIP

EUR - USD 11 JAN 2010 ( PROFIT )

This currency had a significant bullish momentum on Friday after worse than expected US NFP number. Technically, price now not only break resistance 1 area (38.2% Fibo retracement), but has move to 50% Fibo retracement.

11PIPS WITH ROKOKSALEM

SELL : 1.4547 ET /TP: 1.4536 SL: 50PIP

EUR-USD 5 JAN 2009 ( PROFIT )

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