Forex Signals

EUR/USD 4hr Chart Analysis

EUR/USD Last Week

Last week was full of surprises. The first surprise came when the market opened with a 71 pip gap, the largest gap this year. Buyers then made a brief attempt at filling the gap but were unsuccessful. The Bears surprised us again when they took control of price and smashed through the 1.3000 psychological level with ease.

It looked as if nothing would stop the sellers but then they approached our support area at 1.2950-1.2970. The 1.2950-1.2970 caused an immediate flooding of buyers into the market reversing price and starting a Bullish trend. The Bulls controlled the market for the rest of the day pushing price up to the 1.3040-1.3060 resistance area.

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EUR/USD 4hr Chart Analysis

EUR/USD Last Week

In last weeks analysis I mentioned that the 1.3190-1.3210 Support and Resistance area could either act as support or resistance as the price was going to open on top of it. Well the price opened just below the 1.3190-1.3210 area so it acted as resistance and cause a massive reversal at the start of the week. The price dropped right through the minor support line at 1.3165 but got stopped in it’s tracks when it hit major support at 1.3120-1.3140.

After hitting support a very nice reversal trade formed which I entered for +70 pips. The trade was risky and slow moving but the set up was strong. Unfortunately I was not able to record the entire trade, I only recorded the entry so I was unable to make a live trade video of it.
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EUR/USD 4hr Chart Analysis

EUR/USD Last Week

The Bears took control of EUR/USD early last week pushing the price down to the 1.3000 psychological level. However, the Bears could not make a sustained break past the massive 1.3000 psychological level. After reaching 1.3000 two indecision candles formed and the Bulls took control of the market. After a strong push by the Bulls fizzled out price fell back into last weeks range between the 1.3040-1.3060 support area and the 1.3120-1.3140 resistance area.

On Friday morning EUR/USD finally manage to break its range. The Bulls pushed up to the 1.3190-1.3210 resistance area and ended the week stuck on top of it.

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EUR/USD 4hr Chart Analysis

EUR/USD Last Week

Last week I mentioned that EUR/USD might range between the 1.3020-1.3045 support area and the 1.3100-1.3125 resistance area. Well it turns out that EUR/USD did exactly that for the majority of the week. This tight range was perfect for reversal trades and I managed to snag two trades on the 1hr chart, one worth 50 pips and the other 40 pips. One of these trades was recorded as a live trade video, check it out if you haven’t already.

On the chart below you can see the two successful long reversal trades and what looks like a failed short trade. Last week the red highlighted resistance area was at 1.3100-1.3120, mid way through the week it was moved to its current level at 1.3115-1.3135. This means that the failed short trade below was not actually a trade. At the time the indecision and reversal formed too far inside the resistance area so it was not entered. If you refer to last weeks analysis you will see the former placement of this resistance area.
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EUR/USD 4hr Chart Analysis

EUR/USD Last Week

EUR/USD started the week bound in a range between the 1.3355-1.3375 resistance area and the 1.3265-1.3285 support area.

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Ever since I started posting my weekly analysis updates to Facebook people have been asking me for GBP/JPY analysis. I shouldn’t be surprised, this blog was primarily a GBP/JPY trading blog for several years. I do not trade GBP/JPY any more because of the dramatic change to its average daily range in mid 2010. However, I have been keeping an eye on GBP/JPY for the last few weeks and its clean and consistent moves have surprised me. The pair seems to have calmed down and a calm pair is usually an easy pair.

Please do not expect analysis every week on GBP/JPY as it is not my primary pair.
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What Will EUR/USD Do This Week

I have had a lot of Facebook messages from people asking me what EUR/USD will do this coming week….. will it go up or down?

Well, some analysts are saying EUR/USD is heading up to 1.3500. However, other analysts are saying EUR/USD has topped out and it is heading down. Personally I do not know or care what EUR/USD is going to do. I am going to prepare for both eventualities and take some trades whatever happens.
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EUR/USD Last Week

EUR/USD was well behaved last week. After a strong move on Monday the pair got stuck between the 1.3285 and 1.32650 Support and Resistance areas and stayed there, mostly, for the rest of the week.

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EUR/USD ended last week with a very surprising bullish move. The pair looked as if it had found the resistance area at 1.3120 too tough to cross. However, in the last few candles of the week Buyers rushed in to the market and pushed the price up to the next resistance area at 1.3185.

*All charts show in this post are 4hr EUR/USD charts.

This week is set to be a very interesting week for EUR/USD. The pair is currently stuck between two strong areas of Support and Resistance as you can see below.
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Hey Guys,

Last week was a great trading week. In the video below I show you a few of the trades I took last week. I also share my analysis in the video and tell you what to look out for this week. I will be in the Forex chat room during the London session this week taking trades and doing analysis. If you want to catch some trades and stay up to date on the latest Price Aciton analysis come in the chat room from 11am GMT.
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