Obviously Euro’s direction for this month is down after a strong month of sell off.  We would liked Euro to climb up to 1.4900 or 1.4850 for a short.  It is possible for Euro to consolidate higher, then drop from there.  It is possible for Euro  to find support and reverse to those areas.  Bottom line is, direction for the month is down.  Good strategy for a monthly play is short at ideal areas.  We have 18 days for Euro to go higher then 1.4800 to realize a profit or a loss.   This is from our live account, it will be interesting to see how it develops.  Good luck to us all.

1.4700 is great entry and support for Euro this week. Direction so far this week is up.

We placed an order to buy Euro/US at 1.4800.  We think Euro has dropped enough for this month, it is due to go higher now.  Euro hit as low as 1.4650, but since we bought with options, we have one month for Euro to hit higher than 1.4800 for us to realize a profit.  This week Euro does look like it’s going to hit lower level though, but we do not anticipate it going down much further than 1.4600.  We just think Euor is way over sold, short term, it has to reverse.   However to short and realize a short term profit of 100 pip or so, we recommend anywhere from 1.4800 to 1.4850.  Good luck.

1.4800 is huge support for Euro. We planed an order just now, it is an area we must try.  If Euro stops and reverses from here, it is at least a 200+ gainer.   Euro is quite over sold for this month, it might reverse anytime now.  Hopefully we can hold on to this position a little longer.

We are done trading for the week, closed out our position with 213 pip gain in Euro.  This time we bought in at 5040, a very good entry.  We are done for this week.  Reason why we decided to get out is because 1.4800 is a very dangerous support.  We like to be cautious about this area and Euro is quite oversold!!

Will update performan later but so far up 45% since 6-30.

 Euro dropped quite a lot from past week, this week it will drop more.  We will short from 5050 to 5100.

Month of August our direction for Euro is down.  We expect the most Euro can climb up is 5750 as indicated in attached graph.  For this coming week, our direction for Euro is still down, although daily looks like it’s going to climb higher and possibly test 5750, we will still short from 5630 to 5650 area.

This week is month end, we expect very volitile sessions.  Our direction for Euro is still down for now, however we will trade with extreme caution.   Month end, big traders tend to make moves in the market.   This week is definately not an easy week for beginning traders,  Euro can very possibly reverse to go higher since last monthly candle is still very bullish.  But our plan for now is still to short, we will short from 5815 to 5775.  5815 will be an ideal entry but if Euro is due to go down again this week, it might not go that high.   5750 is another pretty big resistence, but higher will be safer.   Good luck.