update

Well my overall downside of 1.4352 was hit and subsequently crushed today. As long as we stay under the 1.4352 level the 1.4128 and 1.4058 levels come into view according to my numbers.

EU update

I still have some euro longs open that I took last Thursday and I intend on keeping those open for now

EU update

I'll call myself a euro bull for tomorrow's trading. I was buying the euro at the 1.5660 level and all price points lower. I'm also holding euro longs from above these levels

Key Levels

Key upside levels:

1.5823
1.5834
1.5862
1.5881
1.5904

Key downside levels:

1.5754
1.5739
1.5718
1.5703
1.5683

Beware of today's euro data which is forecasted weak to the downside... keep a watch on oil and gold

I will be looking to short any rises I can get my hands on. In order for the euro to gain any upward traction we'll at least have to sustain a break above the 1.5810 level.

On the downside, a clean break of the 1.5750 level opens the door to run down to test 1.5700 and then points lower.

Be smart. I expect we see some more shaninigans over the next 14 or so hours.

Key Levels

Key upside levels:

1.5934
1.5958
1.5974
1.5999
1.6024

Key downside levels:

1.5902
1.5883
1.5862
1.5847
1.5823

eurousd updates

Again, I’m not ruling out another run to the 1.6000 level but in order to get there, we’re going to have to sustain a break of some key resistance levels. The first of which is the 1.5880 level.

The 1.5780 is the first that has some decent support. There will be some big stops sitting below the 1.5750 level, all the way down to the 1.5700 level. I have no idea what the “trader sentiment” is in the retail market, I have no idea what the other forums, blogs, and traders are saying.

I’m still short at 1.6019 and 1.5925 and will hold for now.

Key Levels

Key upside levels:

1.5854
1.5872
1.5897
1.5908
1.5926

Key downside levels:

1.5802
1.5780
1.5763
1.5751
1.5739

EU Key Level

Key upside levels:

1.5884
1.5899
1.5921
1.5942
1.5958

Key downside levels:

1.5832
1.5804
1.5791
1.5772
1.5753

Liquidity is extremely low. Overall price action is to the upside right now but could easily change after 0300 EST.

If we can break through the 5850 level, the next struggle will come at the 5880 level. If we can sustain a break there, the market will likely move on to take out stops above the 5910 level.

On the upside, there should be a struggle in the 5920. Real time price action and momentum will show whether or not we can move beyond.

On the downside, 5800 should provide stronger resistance. Below the 5780-5750 levels will be many stops that may need to get taken out, but I would suspect there to be buyers down there as well.

signal updates

The last time the euro made a new high against the dollar was April 22nd.

so I personally grabbed euro shorts at 1.6010, 1.6014, and 1.6019.

I'm sticking to the same exact game plan as always: buy the dips, short the rises. The euro has no business being up at these levels, but the dollar has no reason to get bought.

Drawdown

FAQ about drawdown

1. So why do some signals go into drawdown?
Buying – because the signal is predictive , on my past experience maximum drawdown from this signal is 200 pip [quite scarry huh ?], often times the signal will trigger when it sees that the “market” is starting to buy or will start buying the EUR/USD.

Its Quite simply, many times buying or Long position the EUR/USD will cause the market to initially go in the opposite direction. On the retail side, a retail broker will take the opposite side of trades being taken – so, if retail [like me ] traders are loading up on euro longs [buying euro], the brokers are loading up on euro shorts [selling euro] to push the market against those trades to either shake them out of the trade or to trigger stoplosses. :)

2. What causes the EUR/USD to drop or correct?
Profit taking and Loss taking from institutional trader
Currency reserve moves
Stop hunting/stoploss triggering
Fundamental

Conclusion

I do want to be clear about one thing – I absolutely, positively take losses on trades.

Money Management

For your safety [your equity and or your heart LOL] use this Signal, with max 1 % equity from your total capital [equity] per Open Postion

You can use 20% per open position but u must have a backup heart LOL

Honestly sometimes i used 5% margin ^ - ^

For example if you have US$10000 on your equity use max $100 per-open trades
that means that your maximum Open Position is 0,2 lot [based on North Finance mini account]

Use this Forumula to count your EURUSD used margin need : 1000 * EURUSD Rate

Happy Trading

EU signal

This Blog will provide free forex signal for EU [Euro/Usd]pair Only, and the signal will appears randomly, so keep watching this blog, to get an update.

This g8 Signal will used TP 20 pip and NO STOP LOSS, so becareful trade on your own risk !