Good morning. Here’s a quick look at some of today’s charts
EURUSD
The euro slipped below 1.300 against the US dollar and the decline is likely to continue, providing a potential opportunity to sell into weak rallies toward resistance at 1.300
Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on rally to 1.300, stop above 1.3060, target at 1.2800
EURUSD hourly 5-13-2013
Daily chart (more…)
Good morning. The euro recovered across the board but pulled back against the dollar yesterday, so the question now is whether current decline is corrective or not. Let’s take a look at a few interesting charts
EURUSD
Yesterday’s decline suggests that Euro’s recovery is corrective. See the daily chart below.
Market sentiment: intraday – bearish, short-term – slightly bullish
Potential trade strategy: to sell on rally to 1.3100, stop above 1.3170, target at 1.2850
EURUSD daily 4-18-2013
Here’s the 4-hrs chart, where I highlighted the dynamic resistance range formed by the moving average lines. As long as it holds below 1.31, downside is favored (more…)
Good morning. Dollar is dropping across the board along with the Japanese yen. AUDJPY is now well over the 100 mark while the USDJPY is only 1 figure away from the psychological barrier of 100. Will it get there? yes, it is only a matter of time (a few days or less).
EURUSD
EUR recovered against the dollar since my previous post. It did, however, reached my target at 1.2750 from the selling zone of 1.2850. Now I’m looking to the other side: planning to buy it
Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy on break above 1.3050, stop at 1.2980, target at 1.3220
AUDUSD (more…)
Good morning. The euro continues to decline as there are fears of Cyprus contagion and it’s quite obvious that the decline is far from over. Today’s important events in the FX calendar is the Initial Jobless Claims and GDP
EURUSD
Downtrend remains strong and all pullbacks are providing good selling opportunities. As a small update to my previous post, the EUR went down as expected and I remain quite confident that selling into rallies is the best thing to do.
Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on pullback to 1.2850, stop above 1.2910, target at 1.2750 or lower
EURUSD 4hrs 3-28-2013
GBPUSD
I was wrong expecting the recovery to continue without getting much lower below 1.52. Well, it’s the EURUSD to blame for other currencies weakness against the USD nowadays. Current 4hrs chart suggests that decline is likely to continue
Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on break below 1.5100, target at 1.4900 (more…)
Good morning. The euro is getting a lift on news that finance ministers from Euro zone approved a bailout plan for Cyprus. Bernanke’s speech is today’s most important event
EURUSD
Resistance formed around 1.3050 is intact after today’s test, hence selling into current area is probably a good idea. Although buying on the potential breach of 1.3050 is kind of tempting, it’s still too risky to buy EUR at this moment.
Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell in the 1.300-1.3050 area, stop above 1.3080, target at 1.2900
EURUSD 4hrs 3-25-2013
GBPUSD (more…)
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