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GBP_USD 11/24/2008 |
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Created On: 11/24/2008 1:15:52 AM (0 Comments) (5 Votes) |
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As long as GBPUSD is trading under the resistance trendlines marked on our charts the bearish bias is still intact and we can confidently look at 1.3500 area as a major target for the long term shorts. |
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AUD_USD 11/20/2008 |
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Created On: 11/20/2008 11:49:31 PM (0 Comments) (1 Votes) |
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After the support break the pair found a base just above 0.6000 and is now forming a retracement movement, as seen from the Fibonacci Lines placed on the chart and obvious resistance zone is between 0.6330 and 0.6400 where the 50% and the 61.8% retracements are. |
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AUD_USD 11/18/2008 |
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Created On: 11/18/2008 11:25:29 PM (0 Comments) (6 Votes) |
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Breaking under the 0.6400 resistance level could open up the 0.60 as a first bearish target and we could even see the pair sink lower than that. |
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EURUSD 11/14/2008 |
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Created On: 11/14/2008 8:54:35 AM (0 Comments) (8 Votes) |
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Failure to push above the resistance zone marked by the 2 trendlines will add more downside pressure on EURUSD and we'll have to looks at the 1.2300 levels to see how price action reacts to support. Conversely a move above 1.2800 will open up the area above 1.30 with a first major target at October 29th high of 1.3250. |
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11/12/2008 |
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Created On: 11/12/2008 11:19:33 PM (0 Comments) (2 Votes) |
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WE have a bullish flag pattern on CADCHF that failed to trigger and now we are seeing the support trendline turning into resistance as price pushed under it and has now retested from below. A good short opportunity with a tight stop above 0.9650 can make a decent profit as it has a potential target around the 0.9250-0.9300 area. |
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GBP_USD 11/10/2008 |
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Created On: 11/10/2008 8:54:59 AM (0 Comments) (4 Votes) |
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The bearish bias is still intact and GBPUSD has already offered a good entry for a new round of short positions, tight stops above the resistance trendline should protect us from any unforseen events. |
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GBP_CHF 11/7/2008 |
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Created On: 11/7/2008 1:59:10 AM (0 Comments) (4 Votes) |
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Clear cut support and resistance play o GBPCHF, a push under the support line will open the 1.80 as the next logical target while a 5th rejection of the 1.8550 zone will be enough of a reason to look for a move towards the weeks high at 1.8950-1.8975. |
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USD_JPY 11/5/2008 |
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Created On: 11/5/2008 5:20:17 AM (0 Comments) (3 Votes) |
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Break under the support trendline to the 23% Fibonacci line; a continuation lower is to be expected after the resistance trendline gets tested. |
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GBP_USD 11/3/2008 Bullish Flag |
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Created On: 11/3/2008 12:17:21 AM (0 Comments) (4 Votes) |
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1 hour GBPUSD shows what can be a bullish flag, we'll wait for this pattern to trigger and try to take trades with the trend aiming above 1.70 |
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USD_CHF 10/29/2008 |
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Created On: 10/29/2008 12:35:26 AM (0 Comments) (3 Votes) |
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USDCF is closing in on the 1.1500 support area from where a bounce higher has a good chance of happening; with stops around 1.1400-1.1425 and a projected target of 1.1750-1.1800 this is a good risk:reward setup. Conservative traders will want to wait and look at the smaller timeframes for signs that the price action will respect the support zone. |
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EUR_CHF 10/27/2008 |
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Created On: 10/27/2008 4:37:26 AM (0 Comments) (2 Votes) |
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EURCHf is getting ready to retest the support established last week at 1.4400 after the pair got rejected by the 61.8% Fibonacci Retracement of the 1.5050/1.4400 down move. A bounce of the 1.4400 lows will be the start of a double bottom pattern with a potential target of 1.48 with an intermediate one at 1.46. |
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EUR_CHF 10/22/2008 |
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Created On: 10/22/2008 2:27:27 AM (0 Comments) (2 Votes) |
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the 38.2% fibonacci line of the 1.5350 - 1.4850 down move should provide some resistance on this retracement we're witnessing on EURCHF. opening a short position around 1.5050 with stop placed above the trendline offers a good risk:reward ratio. |
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USD_CHF 10/21/2008 |
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Created On: 10/21/2008 4:20:48 AM (0 Comments) (3 Votes) |
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Classic example of resistance turned support; the double top got breached after the surge in USDCHF, next resistance is seen around the 1.1600 area and while we're trading above previous highs bullish bias is intact, even buying dips above the trendline connecting Oct 10th and 17th lows should provide decent returns. |
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EUR_USD 10/21/2008 |
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Created On: 10/21/2008 1:25:30 AM (0 Comments) (3 Votes) |
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EURUSD short bias looks strong enough to permit us to take a small short position, enter at 1.3250 with stop just above the previous swing high at 1.3275, projected target is the 1.3200 area. Keep in mind that this is very close to the Oct 10th low at 1.3258 and staying under this is very important in maintaining the short pressure. |
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USD_CHF 10/20/2008 |
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Created On: 10/20/2008 1:15:04 AM (0 Comments) (4 Votes) |
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Moving under the support trendline and the 1.1300 level would reinforce the bearish bias, thus supporting the double top pattern formed on October 6 and 16th. First bearish target is the 1.1150 area and lower down we see 1.08 as a strong support level. |
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EUR_USD 10/15/2008 |
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Created On: 10/15/2008 1:48:26 AM (0 Comments) (3 Votes) |
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Small short opporunity on EURUSD 15 min chart, price action showing that we could have a rejection of the 1.3625 level(former lows, fibonacci retracement line and top bollinger band) |
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GBP_USD 10/10/2008 |
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Created On: 10/10/2008 5:28:20 AM (0 Comments) (1 Votes) |
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Although risky the channel GBPUSD has traded in motivates an attempt to open a small long aiming at just above the 1.7200 area where the resistance line is and where a short with the overall trend can be opened. For the long trade stops placed below the 1.6750 low should limit the loss to a acceptable level. |
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EUR_USD 10/6/2008 |
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Created On: 10/6/2008 4:59:03 AM (0 Comments) (3 Votes) |
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Overall trend is bearish and selling rallies is an established method to open new positions, in the chart above we cann see that the 1.3775 area presents us with a good risk:reward shorting opportunity, stops above the horizontal line target the lower side of the channel. |
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GBP_JPY 10/3/2008 |
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Created On: 10/3/2008 3:48:36 AM (0 Comments) (5 Votes) |
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After failing to push through the resitance at 186.50 GBPJPY appears to resume the downtrend and heading towards the first short time support just below the 185.00 zone. If this is how we stand from a technical point of view, the news regarding the US TARP plan will have significant impact on how FX will develop in the later part of the day. |
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AUD_USD 10/2/2008 |
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Created On: 10/2/2008 4:56:19 AM (0 Comments) (3 Votes) |
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AUDUSD retested the 0.7875 resistance level after we had a move lower in the European session. Overall the bias is bearish although momentum has certainly diminished in the last couple of days. Taking out today's low at 0.7775 will reinforce the short term trend and move us closer to the bigger support trendline connecting lower swing lows. |
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EUR_CHF 10/1/2008 |
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Created On: 10/1/2008 5:02:16 AM (0 Comments) (3 Votes) |
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EURCHF closing in on the 1.5850 resistance zone where we have the 50% Fibonacci retracement of the 1.60/1.5650 move down, and an upsloping trendline connecting mid-september swing lows. Further resistance seen at 1.5900, breaking above these levels will shift bias to the bullish side but until we see that happening we should expect moves lower. |
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USD_CHF 9/25/2008 |
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Created On: 9/25/2008 2:55:58 AM (0 Comments) (3 Votes) |
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Swissy met by resistance at the 1.0900 level pushed lower managing to break under the support trendline connecting Monday's and Wednesday's swing lows. First bearish target is the low at 1.0650 once there we will have to look again at the smaller timeframes to see how price action will develop. |
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AUD_USD 9/22/2008 |
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Created On: 9/22/2008 5:06:38 AM (0 Comments) (2 Votes) |
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AUDUSD broke outside the bearish channel and push above the 0.8250 intermediary resistance which has now turned into a support level and has already been retested to some extent. Without any surprising news, in current times these are often, we can still expect the pair ro move higher towards the 0.8500 zone |
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AUD_USD 9/19/2008 Bearish Channel |
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Created On: 9/19/2008 4:56:19 AM (0 Comments) (4 Votes) |
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AUDUSD has been trading inside a bearish channel all month so far, and the area above 0.8100 has proved to be a serious resistance. The pair is trading once again very close to that zone after already a failed attempt to push through in early European trading hours; opening a short position at current level would imply a stop placed above 0.8150 with a first potential target around 0.7950/75. |
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USD_CHF 9/17/2008 |
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Created On: 9/17/2008 3:14:35 AM (0 Comments) (2 Votes) |
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USD lacked the energy ti push through 1.1250 and formed a 1-2-3 pattern on the 1 hour chart before starting to move lower. The pair is confined in a 200 point range this week and without any significant news we expect to continue to consolidate; bottom of the short term range at 1.1050/1.1075 should provide a nice opportunity to open short term longs. |
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EUR_CHF 9/16/2008 head and Shoulders |
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Created On: 9/16/2008 3:26:11 AM (0 Comments) (3 Votes) |
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EURCHF has formed a H&S pattern on the 1 hour charts; break of the neckline happened yesterday and after a swift move towards 1.5750 the pair retraced to retest the resistance; re-entry opportunity with stops placed above 1.5850 perhaps 1.59 and a take profit potential at 1.5600. |
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USD_JPY 9/11/2008 |
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Created On: 9/11/2008 4:10:49 AM (0 Comments) (2 Votes) |
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A sequence of lower lows and lower highs formed every day this week, and an inside bar in today's price action suggest the bearish movement on USDJPY is going to continue; a safe plan would be selling rallies and aiming for last weeks low at 105.50/106 support area. |
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AUD_CHF 9/10/2008 |
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Created On: 9/10/2008 5:56:30 AM (0 Comments) (3 Votes) |
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classic trendline rejection on AUDCHF intraday; 0.9125 was also the top bollinger band in a small 50 point consolidation. first target is yesterday's low at 0.90 and once that level is cleared we can expect a further bearish move. |
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AUDUSD Followthrough |
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Created On: 9/9/2008 3:58:33 AM (0 Comments) (2 Votes) |
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The pair failed to break under the 0.8000 support and thus helped reinforced that area as a significant support, and perhaps give bullish traders a reason to start thinking of new longs(double bottom). Until we see the pair break below 0.8000 mid term shorts should only be small scalps as price action closes in on the resistance trendline and shows signs of weakness on the smaller timeframes. |
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EURUSD Before NFP September 5th |
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Created On: 9/5/2008 5:13:35 AM (0 Comments) (2 Votes) |
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Failling to break a new low in late European session did suggest that the latest bearish wave might run out of steam. NFP is crucial in how the pair will move for the rest of the day. NFP expected at -75k and the unemployment at 5.7%, almost everybody is looking for the realease to be inline with expectations. |
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EURUSD -waititng for the ECB conference |
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Created On: 9/4/2008 4:20:41 AM (0 Comments) (1 Votes) |
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With an unlikely rate chance traders wait for the press conference after the decision to perhaps gain a little knowledge of what the ECB has installed for us next. Trading around the 1.4500 level all morning has build up some energy and with a little help from the authorities we could see a nice move. |
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EUR_CHF 9/3/2008 |
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Created On: 9/3/2008 5:23:46 AM (0 Comments) (4 Votes) |
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EURCHF maintains a bearish bias, and as long as it trades under the resistance trenline marked on our chart we have no reason to think otherwise; opening short positions when price action closes in on the resistance and playing bearish breakouts should provide decent profits with minimum risks. |
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GBP_USD 8/22/2008 |
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Created On: 8/22/2008 4:59:54 AM (0 Comments) (5 Votes) |
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Cable failed to move above the 1.8800 level and just enlarged the range; bad news out of the UK put lots of pressure on the pair and forced it towards the lower support at 1.8550; a break under would definetly reinforce the overall bearish bias and trigger some short term stop of those who were expecting a bigger retrace (me included). |
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USD_JPY 8/19/2008 |
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Created On: 8/19/2008 4:06:40 AM (0 Comments) (2 Votes) |
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USDJPY is still confined in the 108.50 110.40 range, failing to push through. The pair retraced to the 61% Fibonacci line of the range then bounced back to test the top of the range after moving once again below the 110 level. Clearly playing the range is the way to go short term but we should be aware of a possible breakout that willl start a more consistent move. |
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EUR_USD 8/18/2008 |
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Created On: 8/18/2008 1:22:45 AM (1 Comments) (7 Votes) |
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EurUsd formed a triangle just below the 1.50 level and after a fake breakout to the upside it continued to move lower breaking the lower trendline. The pattern has a projected target at 1.4600 and currently we are near the top of what looks like a small retracement, so there is place for this to develop offering some decent returns. |
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USD_CHF 8/15/2008 |
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Created On: 8/15/2008 5:02:27 AM (0 Comments) (3 Votes) |
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Swissy broke above the 1.0925 range top and after a quick retest of the now support line it jumped to 1.0100 where we see strong resistance. We can expect a second attempt at taking out the resistance later in the day although the momentum ain't tremendous. |
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USD_JPY 8/14/2008 |
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Created On: 8/14/2008 4:56:47 AM (0 Comments) (8 Votes) |
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USDJPY is consolidatinjg at the moment between the 108.50 and 110.50 support and resistance levels; trading close to the 61.8 Fibonacci line of this range. If USD momentum does not increase we can expect to be able to play this range for some decent risk:reward trades before we see a bigger move that eventually breaks above 110(the bullish bias on the higher timeframes is still intact.) |
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EUR_USD 8/13/2008 |
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Created On: 8/13/2008 5:16:05 AM (0 Comments) (2 Votes) |
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EURUSD 1 hour chart shows the pair consolidating after the fast drop we had early in the week; price action formed a toppish formation around the upper bollinger band, this view is also supported by the rejection from the trendline connecting two swing lows and now two swing highs. For those inclined to open new shorts a stop above the 1.50 level is the obvious area to look at, but stops at or right above that level is an open invitation for stop hunters. |
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8/12/2008 |
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Created On: 8/12/2008 5:35:16 AM (0 Comments) (1 Votes) |
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Cable shows signs of forming a base around the 1.9000 area after such a tremendous drop over the last few days. This should be a good place for a retracement to start, a retracement looking at the 1.9100-1.9150 zone. A bigger consolidation renge might form in the next few days just above current price levels. |
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USDJPY 8/8/2008 |
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Created On: 8/8/2008 2:44:07 AM (0 Comments) (4 Votes) |
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USDJPY moved nicely higher towards the 110 resistance and it formed a break-retrace pattern we like to look out for; first leg from 107.70 to 109.80 followed by a small retracement then a second leg with a projected target around the 101.30/50 area. To reach our target we have to cross the so far strongly defended 110 resistance, once above stopp will get triggered that will help the pair push higher; failure to break above resistance and a retest of the 109 area will invalidate the pattern. |
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NZD_JPY 8/7/2008 |
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Created On: 8/7/2008 12:21:32 AM (0 Comments) (2 Votes) |
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NZDJPy a favourite pair of the carry traders is now showing bearish signs; after bouncing from the trendline resistance and forming a doji like bar on the 1 hour charts the pair moves under the trendline connecting Tueasday's and Wednesday's lows and aims at the 7800 area where we have already formed a base. |
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GBP_CHF 8/5/2008 |
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Created On: 8/5/2008 4:53:56 AM (0 Comments) (3 Votes) |
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GBPCHF 15 min charts, the pair bounced from what used to be a resistance trendline now turned into support; overhead resistance is just above 2.06 where we can see previous swing lows and swing highs being made, once we get there we see that line turning into strong support adding to the bullish momentum. |
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EUR_CHF 8/4/2008 |
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Created On: 8/4/2008 5:19:35 AM (0 Comments) (3 Votes) |
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After a textbook break and retest of the support trendline EURCHF doesn't look like bearish enough to follow through this pattern and is consolidating between 1.6300 and 1.6350. While below 1.6350 bears might still have a chance but the momentum has diminished and without any EURO news chances are slim. This goes to show that even a textbook technical pattern isn't always delivering the goods. |
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EUR_USD 7/31/2008 |
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Created On: 7/31/2008 5:44:55 AM (0 Comments) (9 Votes) |
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Euro's reaction after the GDP got out (1.9% vs 2.3% exp) is a sharp move towards the 1.57 level which with the current momentum certainly doesn't looks that far. Now if tomorrows NFP comes out inline with today's numbers we can expect EURUSD to push even higher basically annihilating all the profits from the last few days. |
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EUR_USD 7/30/2008 |
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Created On: 7/30/2008 8:20:00 AM (0 Comments) (6366 Votes) |
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EURUSD moved significantly lower this week, pushed by the stronger USD, now after bouncing from the 1.5520 area and retesting the 1.5610/15 resistance we can expect a continuation of the bearish move having our sights set on the 1.5500 round number. |
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AUD_USD 7/29/2008 |
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Created On: 7/29/2008 5:40:00 AM (0 Comments) (1 Votes) |
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AUDUSD reached the lower part of a longer term bullish channel and this is a great place for bulls to open new positions, tight stops can be place just under the lower trendline around the 0.9500 area. Don't forget that even though this pattern looks great we have to keep an eye out for the fundamentals out there, we have several important news coming out this week (US GDP and NFP) that will certainly have an impact on how the USD performs. |
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USD_CHF 7/28/2008 |
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Created On: 7/28/2008 4:39:03 AM (0 Comments) (2 Votes) |
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USDCHF 1 hour charts shows the pair consolidating below the 1.04 resistance line after a bullish move marked by upsloping trendlines. With bollinger bands (20. 0.2) tightening we can expect a stronger move to follow, either continuing the trend with a bounce from the lower line and a push above 1.04 or the exact opposite after a rejection from the 1.04 resistance. At the moment we wait to see a reaction from the lower BB's and see what the US session brings to the table. |
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AUD_USD 7/25/2008 |
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Created On: 7/25/2008 5:10:16 AM (5 Comments) (8 Votes) |
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AUDUSD did infact moved below 0.96 and has formed a triangle just under the resistance level; triangle marked by trendlines connecting todays lower highs and higher lows. This pattern is usually a continuation signal so we expect a break of the lower trendline to confirm this before considering opening a short position. |
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AUD_USD 7/24/2008 |
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Created On: 7/24/2008 6:05:10 AM (0 Comments) (2 Votes) |
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AUDUSD turned higher after breaching the 0.96 level, the pair has also formed a bullish divergence on the MACD(13.26.9) and is now trading at the trendline connecting two lower swing highs; breaking above this resistance trendline will offer a good opportunity to open a long position with stop at the round number. |
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EUR_USD 7/24/2008 |
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Created On: 7/24/2008 12:09:42 AM (0 Comments) (3 Votes) |
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EURUSD is trading inside a very tight range this morning, a range that could be the signal of another leg down; breaking below the 1.5670 level(yesterday's low) will trigger additional short term trades that look for 30-50 points targets. |
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