“For a trader, winning is extremely dangerous if you haven’t learned how to monitor and control yourself.” – Mark Douglas
Good evening. As promised yesterday, I’m back on my good old desktop PC to share some thoughts on charts and setups – including the ones I posted on Monday.
Let’s start with EURUSD. As I mentioned in the morning post, I remain bullish on EURUSD and I’m carefully watching this former resistance zone around 1.3750 because it’s been a pain in the …chart for the bulls last week and even though I don’t expect the level to provide such a strong barrier, limiting price motion from the other side now – I notice that the 15-period Moving Average on the 4-hrs charts (see below) was in a rideable condition since breaking back above $1.30 in December. In fact – it still is – as long as price holds above 1.3750 where MA resides.
- EURUSD 4hrs evening chart 2-2-2011
“For every action, there is an equal and opposite distraction”
Tomorrow’s Economic Calendar is full with notable events and some of them are likely to shake the market – such as the ECB Rate Decision and Press Conference, followed by Bernanke’s speech later. However, the most awaited event of the month is on Friday and I bet you know which one it is, so let’s move forward and take a look at some freshly prepared charts (an update to latest short-term setups presented on Monday)
GBPUSD
- GBPUSD daily chart 2-2-2011
Silver
- Silver daily chart 2-2-2011
NZDUSD
- NZDUSD daily chart 2-2-2011
USDPLN
- USDPLN daily chart 2-2-2011
EURGBP
- EURGBP daily chart 2-2-2011
CHFJPY
- CHFJPY daily chart 2-2-2011
Well, overall there are some interesting technical setups to watch in the coming days and I’ll post more tomorrow. Now here are some links from the sites I read on a regular basis:
Why Japan at 200%+ Debt to GDP Is In Much Better Shape Than Much Of Indebted Europe
Daily Market Summary And Conversation 2/02/11
Bill Gross Compares Ben Bernanke To Satan, Calls For A Bondholder-Citizen “Exorcizing” Comintern
Bob Janjuah’s Latest: Time To Fade Jackson Hole
EUR/CHF: breaking out from bull flag
13 Supermodels Who Have A Thing For Wall Street Guys
Market principle 666 – “When something which is widely expected to happen does NOT happen it causes an even greater move in the opposite direction” via evilspeculator.com
Remember – Never judge too quickly :)
I wish you a great evening, see you tomorrow.
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