EUR/USD: Technical Analysis

Written by on May 2, 2010 3 Comments

By Yankee Clipper

After looking at the past 10 day and 10 hourly performance charts of this pair over the May bank holiday weekend, it shows a

  • 64.33% probability of going long for the investment traders and
  • 67.06% probability for the day trader going short

whilst watching the movement for planning their entry and exit strategies. Keeping in mind the Trend Movements mentioned below I will be watching this pair as we go into the week and closer to the active days. Keep up to date with news updates by reading Forex Crunch.

Not sure what trading will be like today, May 3rd. as it is a Bank Holiday here in the UK,

but the London office is scheduled to open at 08:00 (BST) so business as usual I guess, albeit a little slower.

All times, unless specified, are stated in (EST)
EUR/USD

The most active days for Eur/Usd are Weds (19% Trend Movement), Thurs (24% TM) and Fri (21% TM).

On these days 78% of trends occur between 01:00 and 13:00.
35% TM begins at 05:00

To learn about what other traders are doing sign up for free to Currensee.

A profitable strategy is useless without discipline. Many traders end up losing money because they fail to make trades that meet their own criteria.

“Plan the trade and trade the plan” …. Success is impossible without discipline.

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  • melgar200

    It is quite serious that of the euro, seems that followed lowering a little but, at least that has also told the famous trader Adrian Shiroma in their blog: http://adrianshiroma.blogspot.com /

    it will be good that they took measures against this fall that he/she doesn't leave very stopped the trajectory of our EURO.

  • YankeeClipper1

    Hi Traveler. Thanks for your comment :)

    I think you took that quote a little out of context.

    It says, in full

    “A profitable strategy is useless without discipline. Many traders end up losing money because they fail to make trades that meet their own criteria.
    “Plan the trade and trade the plan” …. Success is impossible without discipline.
    It may indeed to always stick to a plan, but a blan is important since trading is, in fact a business and requires some sort of a plan…. and of course, we should practice discipline in all our trades…. Don't you agree?

    All the best

    Mike

  • traveler12

    [“Plan the trade and trade the plan” …. Success is impossible without discipline.]
    so easy to say but not always easy to implement!