15.01

US Home Sales come out at 330k vs forecast of 317k.

GBPUSD- 85 EMA sits at 1.5453 so if any downmove occurs I’d expect it to hold/bounce on first attempt.

EURUSD continues to be confined within 1.2955 area and at the moment seems unlikely to break the holding pattern.

I’m calling it a day as it’s past midnight and I’ve done well for a Monday and wouldn’t like to spoil anything.

Back tomorrow for some more fun and games.

12.58

Afternoon guys.

EURUSD seems to have found support at 1.2890 for now. Same situation with it needing to clear 1.2955 before 1.3000 can be seriously considered though. Range is currently 82 pips with any advancement on 1.2955 making it go further.

GBPUSD seems to be testing 1.5500 and not far ahead I’d say 1.5539 will prove a stumbling block for GBPUSD to go any further.

US news at 1500 BST might provide an answer to whether GU and EU can pass their respective resistance points.

Hope you’re having a solid start to the week.

09.46

Opps, spoke to soon! I thought it was 1000 BST lol. I blame my parents for skyping too long!

TUFXP has fired a long which is valid for original and my filter method. 1.5493 is the target. Fairly large stop on this so could be a big washout for CM method.

Don’t forget to add any suggestions for new blog name.

09.34

EURUSD failed to pass 1.2955 and has since dropped over 60 pips, the power of resistance!

GBPUSD took a disliking to 1.5500 and has since dropped over 50 pips itself. The 85 EMA now sits at 1.5425.

No further trades on TUFXP so first session goes down as a loss for original method.

Back a little later for the afternoon session where they’ll be US home sales released at 1500 BST.

07.43

EURUSD seems to be struggling a little. For any longs to be considered I’d have to see a close above 1.2955 on at least a 30 m timeframe and then the problem of 1.3000 is present. EURUSD doesn’t look too tempting at the moment.

EURUSD has moved 71 pips throughout the Asian session and the beginning of the European session so it has potential for at least 80-100 pip move. For it to extend downwards it would have to break 1.2875 before adding any more pips to the total.

GBPUSD has moved 77 pips thus far. The 85 EMA sits at 1.5415 which should prop prices for a while. 1.5530-1.5540 would be the first target for GBPUSD.

07.30

I’ve got an update for the bollinger band scalping method which is under the tab ‘Under Review’. I’ve found an additional indicator that seriously does work very well with it and it has made the scalping method a real joy to use and watch. I’ll post an update a little later.

Anything above 1.5500 seems fraught with resistance in my opinion but given the strength of this rally, maybe those levels can be taken out?

07.18

Morning readers. TUFXP has fired off a loss for people using the standard method but I never took it as stochs were touching the oversold area and I wasn’t interested in trying to sell tops.

Still waiting for a trade myself as I’d like to see 1.5470 taken out with authority or if we are going down, I’d like to see 1.5430 passed.