Euro Outlook

I was going through the charts of the euro in the various timeframes and each timeframe seemed to be giving a different picture. The daily still showed some strength on the euro but this was confusing for me with the fundamental outlook for the euro and the movement of the euro from last Wednesday.

So i zoomed out and made it easier by looking at the weekly. I have attached the weekly chart of the euro in its most naked form. In this, you can see how it has tried to move up for the past 2 weeks but has been beaten down. So, for the next 2 weeks, i would expect the euro to go down with a huge support at 1.3460. If this support is broken, then we can expect a move down to 1.3000.

For now, i expect euro to test the support at 1.3460.

What will be discussed here

Here, i will presenting my analysis on various pairs, how i expect each pair to move etc. All this will be done before the trades happen and not on past history, as many 'experts' do on public forums. I will also discuss some patterns and stuff that happened in the past in case we can learn something from it.

These will be my views and my views only. These are analysis and i need to stress one thing very highly here. Analysing is one thing and trading is a completely different thing. Just because someone does very good analysis, in no way,means that he can trade well. A good analyst need not trade well and a good trader need not be a good analyst. Both are totally different. This is not a place to give trade calls. So, for example, i might analyse and find that EURUSD is a 'buy' and open a buy as well but based on how things move that day, i might reverse it to a sell but i may not post that immediately here. Thats the difference between analysis and trading. Hope you can understand.

Journey So far

I am Karthik from India. I have been trading forex for the past 8 years or so. I am basically a software engineer but now i am a full time trader. For the first 6 years of my forex life, i was trading my own account and also doing my day job. I blew up many accounts as any newbie and it was a long difficult tough journey.

But, now, i am a full time trader for the past 2 years. I trade for myself, a hedge fund and also businesses in India which do export-import for their hedging/speculation purposes. This is a kind of forex advisory. This business was started about 6 mnths back and so far things have been picking up steadily. Hopefully, 6 more months of this, with the help of God, and i should have a steady business running. Lets see how it goes.

Hi All

Finally decided to start penning my thoughts about trading and forex on my own blog..I was thinking of doing it in various ways. Starting a trading room, starting a thread in a famous forum etc. All these had the advantage of being very interactive which is something that i love. But along with the advantage comes the disadvantage in that these places are infested with people who try to find fault with whatever you say or do. These faults have nothing to do with the item that is presented but are more directed on the language used, personal attacks, your past etc., which i feel are trivial.

This blog gives me the chance to post what i want, the way i want to, at the cost of reduced interaction. I guess i can live with that. So lets get started.