This announcement paths the great way for the USD to start rising. I am indeed seeing USD is rising against Euro, GBP, CHF and JPY.

Took Short Position on EURUSD

While I was looking at the chart of EURUSD, I saw that EUR seemed to have hit a top. There was a long dark candle going downward and I started to see the EMA lines started to point lower.

I jumped in to take on a short position on EURUSD last week at 1.4758 when I saw EURUSD broke the 50d EMA support. The down trend indeed came true and I took the first profit at 1.4684 which is near the 100d EMA support.

Next, I started seeing the EURUSD broke the 100d EMA support again 2 days ago, I jumped in again with a short position and I just took my profit at 1.4345 few minutes ago while EURUSD traded near 200d EMA support.

My Positions on EURUSD

413 PIPS Profit

I managed to realized a profit of total 413 pips on EURUSD by observing failure of EMA supports on EURUSD chart.

Some of you might think it is no big deal, some of you might think it is pretty good result. Well, I am happy about it myself and it meant a lots to me to boost up my confidence in using technical analysis to spot money making opportunity.

News Are Always Too Late

I observed Yahoo Finance page everyday. I saw 2 news saying that Dollar Rises and Dollar Hits 3 months Euro High.

Now, I started wondering, there are so many people relying on the Yahoo Finance news portal to obtain new information in order to help them making a trading or investing decision. However, this news seem to come a bit too late.  When it started appearing on the top stories, the dollar has already risen and the opportunity would have gone.

It will be risky to overly rely on news to trade or invest and it always comes too late.

News Are Always Late

Arm Yourself With Technical Charts

I am sure you would believe with me that news is too late. If you rely on news to trade.

Therefore, I usually observe the chart pattern and trend to help me structure my trading or investing decision. You might want to start now as I have a seen a great potential as I managed to realize 413 PIPS in less than 10 days. I am sure you can do that too.

Start learning now and we can all learning together.

P/S: If you are thinking where to get a Forex charting software, you can download it here for FREE.  I am using the platform on FastTrader too, it is easy to use and you can activate a dummy trial account with virtual money to start learning.

We can all learning together using the same platform.

DISCLAIMER: This information is used for learning purposes only. It does not constitute an offer or solicitation to buy or sell. You should do your own analysis on top of my postings.

But now, the question is : Is it now the Time for USD to rise again?

USD May Find Support Soon

I am looking at the USD-EUR chart and I see that USD seems to find a support now at the region of 0.66452. USD-EUR seems to be testing this support in the last few days. It is important to observe how well this support can hold.

If the support can endure the downward forces and hold well, there might be a possibility of trend reversal coming up soon.

Let’s keep a close eye on USD-EUR now!

USD-EUR Nov 2009

DISCLAIMER: This information is used for learning purposes only. It does not constitute an offer or solicitation to buy or sell. You should do your own analysis on top of my postings.

We wouldn’t be surprised to see the currency pair peak outside of March highs only to retrace in hesitation as bulls run out of steam. In fact, the present leg up isn’t enjoying the strong volume we saw before, meaning investors could take some profits soon, indicating a pullback with congestion.

Resistance & Support of EUR/USD

The EU has no economic releases today, so the EUR/USD is feeding off of the Cable’s positive energy. The better than expected Manufacturing Production number out of Britain is exciting bulls, leading to a pop in both the EUR/USD and the S&P futures. The fact that the EUR/USD is tagging along for the ride is revealed by a sharp pullback in the EUR/GBP. Both the EUR/USD and GBP/USD have broken free of our last-resort downtrend lines, further supporting our bullish outlook. The EU region will remain relatively quiet on the news front until Friday, when it releases German Prelim GDP. Until then, the EUR/USD should tag along with the Cable and U.S. equities in a positive correlation while registering comparatively muted gains should all move to the upside.

Fundamentally, we find resistances of 1.3735, 1.3777, 1.3837, 1.3868, and 1.3918. To the downside, we see supports of 1.3702, 1.3674, 1.3646, 1.3626, and 1.3598. The 1.35 area serves as a psychological cushion with 1.40 acting as a psychological barrier. The EUR/USD is currently exchanging at 1.3695.

(This article is written and published by FastBroker.com)

DISCLAIMER: This information is used for learning purposes only. It does not constitute an offer or solicitation to buy or sell. You should do your own analysis on top of my postings.

MetaTrader Trend Following Expert Advisor (EA)

I created an Expert Advisor to track the trend of the EUR-USD pair, long during an up trend and short during a down trend. I am sure everyone who is trading or begin to learn about trading will definitely come across this principle : Trend is Your Best Friend.

Trend following is not new and it is a widely used strategy for forex trading. I have leverage on the capability of metatrader to program my entry and exit signal. Using this system allows me to test the various signals for backtesting and also to optimize my system.

PS: You can download Metatrader here if you need the software!

MetaTrader Trend Following Expert Advisor (EA)

I have created my first metatrader EA and I have now put it into Live Testing on my metatrader platform. I was so happy that it managed to track down a rewarding trend with a return of 115 pips on EUR-USD pair.

I am pretty happy with it but, I still need to monitor for one more week to see how stable the system in Live trading environment.

I will post my metatrader EA up on the blog for you to test and run once it has survived my beta testing next week. If you do like to have a copy of this metatrader expert advisor (EA), leave me a comment or do check back to this blog next week, or subscribe to my RSS email feed to receive the latest update!

DISCLAIMER: This information is used for learning purposes only. It does not constitute an offer or solicitation to buy or sell. You should do your own analysis on top of my postings.