i closed my euro trade as target was reach tho it smashed though my target unfortunately for me i closed my trade just before the interest rate decision and did not capitalize on the full amount of pips available however a decent profit was made considering my entry was at 1.2619. the euro headed down to 1.2365

now its all about looking for the next set up but with Non farm payroll out on Friday will be waiting till after the makets give direction on release of the figures .

This is the 4hr chart for euro/usd i am still holding my short from 1.2619 from yesterday . i have added to my position at 1.2570 the main trend line has held resistance from the daily chart and a minor resistance trendline    has been establish from the 28th june my target is 1.2450 area which i am hoping to reach before interest rate decision on thursday. expectations are for .25 basis point reduction tho there are some expectations of a higher rate cut.  

The above 30 min chart for Euro/usd has the resistance trend line which has held since friday .

as i was stopped out at breakeven on my last posted trade i was looking for a place to re enter shorting the euro.  i now have a better entry short at 1.2619 stop loss at 1.2680 

today i am still holding my short euro/usd a nice head and shoulder pattern on the 15min chart above new weekly low created as i right. have added to my position and my breakeven is at 1.2590 . stop  lowered to this.

as expectations are euro will lower its interest rate on Thursday. hoping i dont get stopped out . if i do will be looking for a better price to short euro  

Eur/usd

After last weeks rise, i have taken a short on this pair from 1.2616 expectation is the central bank will be cutting rates which will help the euro move lower ,

cross coming in to play on hourly chart this is when the (20 hour moving average crosses the 50 hour moving average) 

I haven't been posting for over a year . so today i shall start to log my trades

have taken a long trade on gbp/usd from 1.5605 first target is today's high 1.5675

This is my 4hr chart showing my support trend line which became Resistance  this made it easier for me to decide on when to close the trade. closed for a gain of 85 pips as cable stalled at the trend-line and also hadnt broken 1.5700 

Eur/usd 

Divergence was clear on hour chart , this is where the last stock peak is level or slightly lower and the candles have a higher corresponding peak . this suggested that the euro rise is running out of steam. 

I took a small trade shorting the euro closed for 10 pips profit as trade volume was low this was probably due to time of day and it is a Friday. Am expecting next week euro to make moves lower after today's sugar rush is digested . 

todays trade

i have taken a short on gbp/usd at 1.6126 as strong dollar is still in play my stop loss is now at break even lets see if pound and drop below the 1.6100 level