Tag Archives: AUDCAD

Tuesday Charts

Good morning.

EURUSD

Dollar pulled back against its major counter-parts, especially against the euro which is currently trading in the 50% retracement zone of the decline from 1.34 to 1.2750

Market sentiment: intraday – bullish, short-term – slightly bullish
Potential trade strategy: to buy on break of 1.3150, target at 1.3300, stop below 1.3080

EURUSD 4hrs 7-16-2013

EURUSD 4hrs 7-16-2013

It’s easier to see on the daily chart that previous daily candles are suggesting an extended recovery – as the sell-off initiated at the 61.8% retracement was limited Continue reading

NFP Day is Here: Friday Charts to Watch

Good morning. The euro had a good run yesterday after Draghi’s comments, who said that eurozone’s economy will stabilize this year. EUR holds onto gains ahead of today’s NFP data.

EURUSD

Yesterday I was rather expecting this former resistance range between 1.3050-1.3100 to hold, but after such strong declines – “more-than-modest” or even strong corrections are common. Although the resistance was breached, I have doubts that this is the beginning of a prolonged recovery. So my yesterday’s plan to sell in the 1.3070-1.3100 zone is still in play.

Market sentiment: intraday – bullish, short-term – bearish
Potential trade strategy: to hold short, stop above 1.3150, target below 1.2950

EURUSD 4hrs 3-8-2013

EURUSD 4hrs 3-8-2013

 

EURJPY

Yesterday’s recovery above the highlighted resistance zone suggests that more upside action is likely, hence I’m changing plan after yesterday’s failed sell and I am now considering a buying opportunity on potential pullback to 124.00 area

Market sentiment: intraday – bullish, short-term – slightly bullish
Potential trade strategy: to buy dips around 124, stop below 123.20, target at 126+ Continue reading

Midweek Charts That Matter

Good morning. Euro is trading lower across the board before the ECB meeting tomorrow.

EURUSD

Market sentiment: intraday – slightly bearish, short-term – bullish

Potential trade strategy: to buy around 1.2530 or around 1.2480, short-term target at 1.2630/50

EURUSD 4hrs 9-5-2012

EURUSD 4hrs 9-5-2012

EURJPY

EURJPY is still trading sideways in a horizontal channel. The channel support is now under pressure and there’s a good chance that it will remain intact, in my opinion

Market sentiment: intraday – bearish, short-term – slightly bullish

Potential trade strategy: to buy around 98, target at 99 Continue reading

Charts to Start the Week

Good morning. Euro holds gains around $1.2500 at time of writing and more upside action is likely, as next barrier is formed at $1.2700.

EURUSD

Market sentiment: intraday – slightly bearish, short-term – bullish

Potential trade strategy: to buy dips at 1.2440/50, stop below 1.2400, target at 1.2650

EURUSD daily 8-27-2012

EURUSD daily 8-27-2012

hourly chart:

EURUSD hourly 8-27-2012

EURUSD hourly 8-27-2012

AUDCAD Continue reading

Tuesday Charts and Trading Strategies

Good morning. Dollar is mixed across the board, while the Euro holds gains above $1.2300 – trying to push higher – to 1.2440/50.

EURUSD

Market sentiment: intraday – bullish, short-term – slightly bullish

Potential trade strategy: none

EURUSD 4hrs 8-21-2012

EURUSD 4hrs 8-21-2012

GBPUSD

Resistance at 1.5730/50 is still under pressure, since June. Best thing to do in my opinion is to wait for a breakout and buy on strength above that level

Market sentiment: intraday – bullish, short-term – neutral

Potential trade strategy: to buy on breakout above 1.5730/50, target at 1.600 Continue reading

Thursday Charts

Good morning. Euro continues to face some downside pressure as it failed to recover above former support, formed by the trendline connecting recent short-term higher lows on the 4hrs chart (see bel0w). Initial Jobless Claims is today’s most important economic data release.

EURUSD

Market sentiment: intraday – bearish, short-term – bearish

Potential trade strategy: short at current levels while 1.2330/50 is intact, target at 1.2150

EURUSD 4hrs 8-16-2012

EURUSD 4hrs 8-16-2012

AUDUSD

Aussie dollar is still in correction-mode and support at 1.0440/50 is in focus. Uptrend is intact while that support level holds.

Market sentiment: intraday – bearish, short-term – bullish

Potential trade strategy: to look for buying opportunities on rally to/above 1.0530 Continue reading

FX Charts to Start the Week

Good morning.Here’s a couple of interesting charts to start the week

EURUSD

EUR continued to test the downside on Friday and is now trading near support range formed by the rising trendline connecting recent higher lows on 4hrs chart and the 61.8% fib retracement of last up leg, as well. Now that 1.2320 was breached, this is the only important support level on its way down – back to $1.2150 and lower

Market sentiment: intraday – bearish, short-term – bearish

Potential trade strategy: none/standing aside

EURUSD 4hrs 8-13-2012

EURUSD 4hrs 8-13-2012

AUDUSD

Uptrend remains strong as minor dips are being bought, therefore buying on pullbacks is still one of the best things to do while AUD holds above 1.0440

Market sentiment: intraday – bullish, short-term – bullish

Potential trade strategy: to hold long while 1.0440 is not in focus Continue reading

Thursday Charts That Matter 8/9/12

Good morning. Risk pairs keep rising while the dollar is losing ground across the board. EUR holds onto gains at $1.2370 at time of writing after bouncing off support around 1.2320.

EURUSD

Intraday sentiment remains slightly bullish while EUR holds above 1.2320 but is losing strength on daily charts, so a daily close above $1.2400 is needed to maintain positive momentum.

Market sentiment: intraday – slightly bullish, short-term – slightly bullish

Potential trade strategy: to buy dips at 1.2300/20, target above 1.24. Another setup (short-term) is to buy on break above 1.2400, target above 1.26

EURUSD 4hrs 8-9-2012

EURUSD 4hrs 8-9-2012

AUDUSD

Aussie dollar holds above support provided by the MA lines and 1.0440 which was breached a few days ago. Buying dips and into strength are the best things to do.

Market sentiment: intraday – bullish, short-term – bullish

Potential trade strategy: to buy dips in the 1.0550-1.0570 area, target around 1.07. Buying on strength above 1.0610/20 is another plan to consider Continue reading

Tuesday Charts and Trading Strategies 7/31/12

Good morning. Dollar is still under pressure across the board, although EURUSD returned below $1.23, but the Aussie dollar popped above 1.05. Important economic events this week are: Interest rate decision in US, Europe and Great Britain and the NFP on Friday.

EURUSD

Market sentiment: intraday – slightly bullish, short-term – bearish

Potential trade strategy: to buy on break above 1.2310/20, target at 1.24+

EURUSD 4hrs 7-31-2012

EURUSD 4hrs 7-31-2012

GBPUSD

Cable still hovers near 1.5740/50 resistance, so the best plan in my opinion is to buy on the potential break higher

Market sentiment: intraday – bullish, short-term – bullish

Potential trade strategy: to buy on break of 1.5740/50, target at 1.6 Continue reading

Charts to End the Week 7/27/12

Good morning. Dollar continued to weaken against its counter-parts yesterday, so EUR managed to reach resistance at $1.2300 formed by a top established in the last two weeks.

EURUSD

Market sentiment: intraday – bullish, short-term – bearish

Potential trade strategy: to look for a buying opportunity (aggressive plan) on the break of 1.2310, target at 1.2400

EURUSD 4hrs 7-27-2012

EURUSD 4hrs 7-27-2012

USDCHF Continue reading