Esi-Forex Systems Inc.

04-12-11 EUR/USD Investor Sentiment Unfavourable

pfilice — Tue, 12 Apr 2011 12:19:17 +0000

All German and Euro investor sentiment reports released today were underwhelming. Inflation seems to be in check at the moment, however, in the Eurozone. There has been a corresponding rebound in the EUR/USD as risk appetite is bolstered.

Are we going to see some new highs as a result?

04-11-11 EUR/USD Consolidating

pfilice — Mon, 11 Apr 2011 19:57:06 +0000

It appears the EUR/USD pair is consolidating after last week’s impressive gains.

This is not unexpected and may present a good opportunity to slowly accumulate a long position.

I see a moderate level of support at the most recent high at 1.4340 on the hourly chart. This may be a good place to buy in anticipation of the next upward wave.

04-10-11 EUR/USD Breakout Signals Bullish Stance

pfilice — Sun, 10 Apr 2011 21:20:41 +0000

Last week saw impressive gains on the EUR/USD pair. A combination of strong technical setups plus several key fundamental news reports resulted in gains of over 300 PIPS.
This week should be an interesting week of trading. It appears the EUR/USD has broken out from its long-term downward trend which you can see on a monthly chart spanning back to October, 2008.

Notice the breakout of the trendline spanning back to August, 2008 at approximately 1.4250.
You will also note that this coincides with a breakout of the recent high of 1.4281 of November 3, 2011.
This further coincides with a break of the 61.8% Fibonacci Retracement from the June, 2008 high.
All in all, a excellent confluence of events that suggest the breakout is significant.
I expect a follow through in the coming week.
I would love to see a retracement back to 1.4250 before taking a position.
Good luck this week.

Welcome to the New Look

pfilice — Sun, 03 Apr 2011 00:40:17 +0000

Hello everyone.

Welcome to the new look for Esi-Forex.

I wanted to create an easy to manage website that allows me to constantly add content and blog posts without the necessity for programmers.

Let me know what you think.

Pat