Forex Market Update: EUR/SD Forecast and Trade / Market Timing Alerts
Posted 05-28-2009 at 06:20 PM by Britt Maras
EUR/USD Mired In Wide Range Consolidation with Potential Entry Opportunity
If you followed our last price action map and Market Timing Alerts you must be pleased. We last wrote about exhaustion and offered a bearish forecast with our exclusive forex signal Market Timing Alerts (PMTP) and a bear entry opportunity. Two of the three Timing alerts coincided with my two real-time bear entries from 1.3967 with profit exceeding 180 pips from our live alert program and consecutive entries from the 3967 level paying out towards the 1.3830 level listed. Please review our previous advisory.
Currently the pair is wrapped up but I have some specific price action levels and a timing alert to keep us focused.
Resistances: immediate at 1.3954, 3976 and 1.4017 to 4032 and then 1.4097
Supports: immediate at 1.3827-20/09, 1.3857-69, 1.3823, 1.3785 then 1.3609
The pair is mired in what I call noise and I don’t like to trade within the noise. Using lower margin -- a clean break of 3903 can target 3855ish or lower but a clean break of 3983 can target 4020-50 or more. You must focus on the above defined resistances and supports to recognize that a break trade entry could fail. I do not have a clean trade entry now within this noise; a trader can only test and play the breaks using tight stops no more than 18-21 pips or less.
I prefer to see the market test the 1.3829 level and I have a slight bear slant; such an event could offer rapid bursts to the bear side versus choppy resistance entries to the upper resistance levels. Conversely, a 1hour bar close above 3981`ish with a brief tap back to 3977 could yield a nice move into mid 1.40’s.
That’s my opinion anyway and month-end gymnastics always carry a higher level of risk to any day-trade event. I suggest trading low level margin exposure at month end to preserve the past several weeks’ profits. Follow the map and play tight willing to reenter on false jigs.
Primary Movement Timing Program Market Timing Alerts
04:20-04:40 GMT for 2.5 hours duration with strong price action
11:10 GMT for 1.75 hours with moderate price action
The first alert could be delayed by about 40 minutes and the second alert could be increased by about 50 minutes.
Britt Maras – Senior Currency Strategist
If you followed our last price action map and Market Timing Alerts you must be pleased. We last wrote about exhaustion and offered a bearish forecast with our exclusive forex signal Market Timing Alerts (PMTP) and a bear entry opportunity. Two of the three Timing alerts coincided with my two real-time bear entries from 1.3967 with profit exceeding 180 pips from our live alert program and consecutive entries from the 3967 level paying out towards the 1.3830 level listed. Please review our previous advisory.
Currently the pair is wrapped up but I have some specific price action levels and a timing alert to keep us focused.
Resistances: immediate at 1.3954, 3976 and 1.4017 to 4032 and then 1.4097
Supports: immediate at 1.3827-20/09, 1.3857-69, 1.3823, 1.3785 then 1.3609
The pair is mired in what I call noise and I don’t like to trade within the noise. Using lower margin -- a clean break of 3903 can target 3855ish or lower but a clean break of 3983 can target 4020-50 or more. You must focus on the above defined resistances and supports to recognize that a break trade entry could fail. I do not have a clean trade entry now within this noise; a trader can only test and play the breaks using tight stops no more than 18-21 pips or less.
I prefer to see the market test the 1.3829 level and I have a slight bear slant; such an event could offer rapid bursts to the bear side versus choppy resistance entries to the upper resistance levels. Conversely, a 1hour bar close above 3981`ish with a brief tap back to 3977 could yield a nice move into mid 1.40’s.
That’s my opinion anyway and month-end gymnastics always carry a higher level of risk to any day-trade event. I suggest trading low level margin exposure at month end to preserve the past several weeks’ profits. Follow the map and play tight willing to reenter on false jigs.
Primary Movement Timing Program Market Timing Alerts
04:20-04:40 GMT for 2.5 hours duration with strong price action
11:10 GMT for 1.75 hours with moderate price action
The first alert could be delayed by about 40 minutes and the second alert could be increased by about 50 minutes.
Britt Maras – Senior Currency Strategist
Britt Maras is a special Guest Analyst and Trader with forexforums at dailyfx.com, an experienced Market Strategist and Technical Analyst with more than seven years experience: Britt specializes in price action and market timing trade advisory. Britt is the Senior Currency Strategist and Chief Trader in "Timing the Markets Trade Room"
at http://www.forextradersdaily.com
Market Timing Alerts This Alert gives Forex Traders advance notice as to when the Forex Market price structure can be expected to provide sufficient and liquid price action to maximize profits. Typically there is several alerts per week, and may be issued with advance notice. This Forex Signal has proven to be very accurate, effective and consistent.
Forex Market Forecasts The EUR/USD Forecast provides a thoughtful and well reasoned analysis of expected market direction. This roadmap of price action (including defined support and resistance levels, expected market direction and a description of events that will occur relating to price action) is provided in a well written, timely and consistent manner.
For more information and increased market expectations you can visit http://www.forextradersdaily.com
at http://www.forextradersdaily.com
Market Timing Alerts This Alert gives Forex Traders advance notice as to when the Forex Market price structure can be expected to provide sufficient and liquid price action to maximize profits. Typically there is several alerts per week, and may be issued with advance notice. This Forex Signal has proven to be very accurate, effective and consistent.
Forex Market Forecasts The EUR/USD Forecast provides a thoughtful and well reasoned analysis of expected market direction. This roadmap of price action (including defined support and resistance levels, expected market direction and a description of events that will occur relating to price action) is provided in a well written, timely and consistent manner.
For more information and increased market expectations you can visit http://www.forextradersdaily.com
