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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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10/14/2008 |
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Created On: 10/14/2008 6:24:48 AM (0 Comments) (868 Votes) |
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EURUSD May 23rd |
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Created On: 5/23/2008 5:18:12 AM (1 Comments) (127 Votes) |
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EURUSD one hour chart above, displays the pair forming a base at the 1.57 round number; we can see a rough 1-2-3 pattern just above a trendline that connects two consecutive swing lows, on the lower timeframes those two lows might even look like a double bottom. Previous high at 1.5810 is the main target we should look out by the end of the trading day. |
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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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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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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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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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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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EUR_USD 6/2/2008 1min chart |
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Created On: 6/2/2008 3:51:01 AM (0 Comments) (7 Votes) |
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EURUSD formed a treiangle just around the 1.55 50level and it is setting itself up for a break; a momentum break outside of this triangle should be the start for at least a 50 points move. At the moment it looks like the bearish pressure might be just eough to move the pair towards the 1.55 round number. |
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EurUsd May20 -bullish setup |
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Created On: 5/20/2008 9:27:21 AM (0 Comments) (7 Votes) |
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Euro formed a consolidation pattern, this is usually a continuation signal, with this in mind a break above the upper trendline should open up the 1.57 level as the main short term bullish target. |
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GBPUSD May 29th |
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Created On: 5/29/2008 2:56:31 AM (0 Comments) (7 Votes) |
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Bearish setup developing on the 1 hour charts on GBPUSD, price has been rejected by the resistance at 1.9850 (#1)a couple of times, and now after making a lower low is retracing towards the EMA(62) -marked in yellow on our charts- the red arrow marks a good entry level at the intersection with the moving average, stop should be placed above the down sloping trendline #2 that connects this weeks lower highs; we are looking at 1.9700 as a target for this trade is triggered. |
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USDCHF 6/6/2008 |
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Created On: 6/6/2008 1:24:29 AM (0 Comments) (6 Votes) |
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Yesterday's price action on USDCHF was strongly influenced by the ECB interest rate decission and the commentaries that followed, the pair rejected from the trendline and the 1.05 resistance level just as the comments regarding future increase in the EURO interest rates hit the wires(to show how correlated currencies are to each other). We have added a simple moving average(50) on the 4 hour USDCHF chart to help understand better the flow of the price. The pair retraced from the highs and it even crossed the 1.04 level but it seems to have found some support; looking forward for the NFP later on today we can expect another day with lots of volatility and a big move. |
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GBPJPY 8hour chart May 30th |
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Created On: 5/30/2008 3:26:32 AM (0 Comments) (6 Votes) |
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GBPJPY has reached the top of the bullish channel it has traded in for the better part of the month, and this top also coincides with a proven resistance level established in April when the pair failed to breach. We are now looking towards the 206.50 are as a possible short term bearish target and first support level. |
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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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EUR_USD 6/20/2008 |
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Created On: 6/19/2008 11:52:36 PM (0 Comments) (5 Votes) |
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The pair is consolidating between the 1.5450 and 1.5580 which also the 50% fib retracement line of the 1.58-1.53 down move. The resistance line at 1.5590 is the line connecting June 11th and June 19th swing highs, and we have to wait for a push above this level before we start thinking of a possible bullish play. On the other hand trading so close to the 1.55 round number might give some traders an opportunity for a short long aiming at the 1.5590 resistance. The pair is clearly trading inside a range but we expect that a break and retest of the trendlines marked on our chart should provide good risk and reward trades. |
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EUR_USD 7/7/2008 |
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Created On: 7/7/2008 3:04:02 PM (0 Comments) (5 Votes) |
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We would see a good long chance above 1.5775 with 1.60 as target |
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USD_CAD 6/12/2008 |
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Created On: 6/12/2008 4:56:00 AM (0 Comments) (5 Votes) |
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USDCAD 4 hour charts signal a potential head and shoulders pattern forming, a break bellow the EMA(13) in yellow; will give us an aggressive entry for those of us who don't want to wait for the neckline break. Conversely this pattern could never trigger as the US dollar keeps adding strength across the board.
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USD_JPY 7/21/2008 |
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Created On: 7/21/2008 5:45:00 AM (0 Comments) (5 Votes) |
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Dollar yean reached the middle of the 108.50/105.50 range and formed what looks like a double top on the intraday timeframes; this would be an ideal short if it weren't for the oscillators indicating that the pair is a bit oversoll even at this levels. Failure to push higher will be a strong incentive for bearish traders to open new positions. |
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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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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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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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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 10/20/2008 |
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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_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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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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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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EURUSD May 28th |
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Created On: 5/28/2008 8:14:11 AM (0 Comments) (4 Votes) |
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The pair formed a double top on the higher timeframes, marked by the #2 trendline on the 4 chart displayed above, and so far in todays trading session it has slipped lower breaking the support trendline #1 in what appears to be a strong bearish move. This is also supported by the bearish divergence formed on the MACD(13.26.9) that has also signaled a possible short opportunity. |
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GBPJPY 4 hour chart May 27th |
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Created On: 5/27/2008 12:21:17 AM (0 Comments) (4 Votes) |
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The pair is trading inside a bullish channel that started after the pair bounced from the 200 support area. As seen in the chart above the main target is the upper trendline and the 207.50 level which is also close to the April highs that have proven to be strong resistance. |
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CHFJPY 1hour bullish setup |
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Created On: 5/22/2008 2:22:19 AM (0 Comments) (4 Votes) |
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CHFJPY broke above the #1 trenline and slowly moved higher finding support at the #2 trendline that connects Tuesday's swing highs and Wednesday's low to form a good base for another leg up. This move has the potential to reach the 101.25 target in today's trading session. |
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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 6/3/2008 |
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Created On: 6/3/2008 3:11:29 AM (0 Comments) (3 Votes) |
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USDJPY is trading inside a 300 points channel and is slowly showing bullish signs, with the Simple Stochastic(13,3,5) displayed under the price starting to turn higher and the pair trading just above a trendline connecting two previous higher lows. |
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USD_CHF 6/27/2008 |
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Created On: 6/27/2008 5:08:31 AM (0 Comments) (3 Votes) |
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USDCHF 1 hour chart shows the pair trading inside a rather steep bearish channel that helped the pair break the 1.0250 significant support and turn it into resistance offering a good re-entry opportunity for those that were already short. Next support is the 1.0150 area before the all important 1.00. |
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AUD_USD 7/7/2008 |
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Created On: 7/7/2008 11:57:49 PM (0 Comments) (3 Votes) |
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AUD is consolidating between 0.9525 and 0.9625 in a pattern that can be viewd as the start of a bullish flag. bouncing from the 0.9525 support (trendline connecting previous lows and lower Bollinger Band) can offer a decent short term long opportunity with a price target of 0.9625; once there if the pair builds enough momentum the trade could provide additional profits. |
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USD_CHF 7/8/2008 |
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Created On: 7/8/2008 5:55:30 AM (0 Comments) (3 Votes) |
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USDCHF is consolidating below the 1.03 resistance level and has already bounced from the support trendline connecting this weeks lower lows. A bullish break is to be expected but one will have to wait until the US open for a clearer view on how the USD will perform across the board. |
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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_USD 7/11/2008 |
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Created On: 7/11/2008 5:18:44 AM (0 Comments) (3 Votes) |
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The pair broke above the marked resistance at 1.58 and after a retest of that level now turned into support it has pushed higher aiming at 1.59. The move was also supported by the OIl and Gold moving higher and worries about the overall state of the equity markets. |
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EURGBP may21st |
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Created On: 5/20/2008 11:37:52 PM (0 Comments) (3 Votes) |
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The pair is not known for strong movements but this consolidation alongside the bullish channel might give us a good trading opportunity; a break on the either side of this channel will open up the 0.7925 on the bearish side and 0.80 on the bullish part. |
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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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EUR_USD 6/16/2008 |
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Created On: 6/16/2008 4:20:06 AM (0 Comments) (3 Votes) |
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Euro broke lower outside of the larger channel but failed to mainatin its downside momentum and pushed back above 1.5400 helped by inflationary data coming out of the Eurozone. Bullish traders might have coungth on the divergence forming on the larger timeframes, see the Momentum(14) on our chart, but the short signal was pretty clear; the pair retesting the support trendline forming an almost textbook trade. Now we have to wait and see if this last leg is just a short term pullback or if the major bullish trend will resume. |
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USD_CHF 6/5/2008 |
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Created On: 6/5/2008 3:12:35 AM (0 Comments) (3 Votes) |
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USDCHF is trading at the top of a bullish channel and is also close to the resistance trendline connecting lower highs starting as early as April. With today's data (ECB and BOE decisions) and especially with tomorrows NFP report we can expect a strong move; a break to the upside above the resistance trendline will open up 1.08 and 1.09 as possible bullish mid term targets; conversely a failure to stay above 1.05 due to bad USD data will shift focus towards 1.03 as there is the closest support level, if that break we can start looking at the 1.00 round number. So far we keep our bullish bias but we are on the lookout for any sign of potential weakness. |
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EUR_USD 6/17/2008 |
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Created On: 6/17/2008 4:18:28 AM (0 Comments) (3 Votes) |
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Euro was rejected at the 1.5550 resistance trendline and has since headed towards the 1.54 support level after breaking under the 1.55 round number; with short term momentum still biased short we can expect at least a retest of the day's low at 1.5460 before a new push aiming at the bigger 1.54 support zone. |
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EUR_USD 6/24/2008 |
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Created On: 6/24/2008 6:45:48 AM (0 Comments) (3 Votes) |
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EuRUSD formed an expanding wedge after breaking above the former resistance line now turned into support at 1.5580. We can expect a move towards the 1.5700 area before a possible retest of the lower support zones. |
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EUR_USD 7/3/2008 |
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Created On: 7/3/2008 5:05:45 AM (0 Comments) (3 Votes) |
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EurUsd stable after the ECB increased rates by .25% as expected; focus is on the NFP and unemployment rate in 30 mins. 1.59 has held so far as resistance from a technical point of view but the following news could blow it out of the water. |
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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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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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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 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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AUD_USD 7/16/2008 |
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Created On: 7/16/2008 8:41:43 AM (0 Comments) (3 Votes) |
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AUDUSD formed a triangle just below the .98 resistance level, a triangle that broke lower helped by the USD strength across the board. Playing the breakout trade on this one would have given the opportunity to bank from 20 to 30 pips(depending on spreads); the exit is signaled by the price action on the 15 min chart(doji) and the fact that the upper bollinger band turned lower(marked by the pin) showing us that bearish momentum has diminished. |
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GBP_USD 7/17/2008 |
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Created On: 7/17/2008 6:47:44 AM (0 Comments) (3 Votes) |
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Small bullish channel on the 15 min charts on cable, the pair moved slowly above 2.00 round number confirming once again the status of major support level of this perticular zone. As long as the pair trades above 2.00 we keep a bullish bias with the previous highs as a potential target. |
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