A quiet end to the trading year for the eurodollar which ended in a consolidation phase between the USD1.43 and USD1.44 price region.  However, this sideways price action also included important bearish signals with two of the last three candles closing with significant and deep wicks to the upper body suggesting that the temporary rise [...]

The weekly chart for the euro vs dollar pair simply confirms what we already knew, namely a wide spread up bar which broke out of the sideways consolidation of the last few weeks and finished well above both the 9 and 14 week moving averages.  The conundrum for traders in the next period is whether [...]

As it is the start of a new week let’s begin by looking at the weekly chart for the euro vs dollar and last week’s wide spread up bar gives us an excellent trading signal for this week and I would suggest you buy now into the rising market.   The reason for the bullish move [...]

Another week, and little has changed from the previous one when we look at the weekly candle chart for the currency pair, and my hope that last week might provide some respite from the sideways movement has not been fulfilled! The interest rate changes and NFP figures on Friday have had little to no effect, [...]

As it is the start of a new week I thought I would take a look at the weekly candle chart for the euro vs dollar, to see if this tells us anything new about the longer term outlook for the currency pair, and the short answer is no! As you can see from the [...]

Last week’s candle on the euro dollar pair, has formed a hammer, which suggests that for our longer term trading we could see a rise in prices, but as always we must wait to see if this signal is confirmed by next week’s candle. For those of you new to candlestick analysis, the candle is [...]

The weekly chart provides little in the way of clues for this week’s trading I’m afraid, and really tells us what we already know, in that the euro vs dollar pair is currently trading sideways, and until we see some volatility in the currency pair, then my suggestion is to stay out until further notice. [...]

Trading in the euro vs dollar at the moment is extremely difficult, as the pair continue to re-base around the 1.2900 region in a continuing sideways trend. Last week’s candle open gapped down, and the closing price on Friday ended higher, engulfing the previous candle, and thus providing us with a bullish signal. Whilst this [...]

The weekly candle for last week has provided an interesting signal with an inverted hammer, following the four down bars from the reversal  early in January. An inverted hammer is often the first sign that a trend has reached a reversal point, and as with any candle we will need to see next week’s candle [...]