Tag Archives: British Pound

Midweek Charts to Watch

Good morning. Dollar is under pressure across the board as Germany’s Constitutional Court is expected to give its approval today to the euro zone’s new bailout fund. Tomorrow’s Fed meeting is another important event that is currently putting weight on the dollar.

EURUSD

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

Potential trade strategy: to hold long, target at 1.30

EURUSD daily 9-12-2012

EURUSD daily 9-12-2012

EURCAD

Resistance at 1.25 is still under pressure but yesterday’s fast recovery suggests that a breakout is underway

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

Potential trade strategy: to buy on break of 1.2500, target at 1.2750 Continue reading

Charts to Start the Week

Good morning. Euro rallied on Friday after the NFP data release, reaching $1.28 against the US dollar. Other risk currencies such as AUD followed the EUR higher. What’s also interesting these days is that EURCHF started moving, rallying 150 points before pulling back to 1.2070-1.21 where it is trading now.

EURUSD

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

Potential trade strategy: to buy dips at 1.2700, stop below 1.2630, target at 1.29

EURUSD daily 9-10-2012

EURUSD daily 9-10-2012

4hrs chart:

EURUSD 4hrs 9-10-2012

EURUSD 4hrs 9-10-2012

EURGBP

Resistance at .7950/60 was breached and is now poviding short-term support, hence a buying level to consider

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

Potential trade strategy:to buy dips at .7950, target at .8200 Continue reading

Charts to Start the Week

Good morning. Euro holds gains and is flirting with $1.2600 since a week ago.

EURUSD

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

Potential trade strategy: to buy dips around 1.2530, stop below 1.2470, target at 1.2650

EURUSD 4hrs 9-3-2012

EURUSD 4hrs 9-3-2012

GBPUSD

Cable remains bullish after recent breakout above 1.5750 but has found resistance at 1.59 – formed by the 62% fib of the entire decline from 1.63 to 1.5260. Buying dips near support zone or on a break above the 62% are two plans to consider.

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

Potential trade strategy: to buy dips at 1.5770-1.58, target above 1.59; to buy on breach of 1.59, target at 1.61 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

NFP Day is Here 8/3/12

Good morning. Euro declined yesterday after ECB’s Draghi disappoints markets, delaying actions. The week ends with another important event: the Non Farm Payrolls – consensus is 100k and 8.2% Unemployment; my guess is 60-70k

EURUSD

Resistance is now formed around 1.2250 (former support), where EUR is likely to face new selling pressure if current pullback continues.

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

Potential trade strategy: to sell into strength to 1.2250, target at 1.2100

EURUSD hourly 8-3-2012

EURUSD hourly 8-3-2012

One big downtrend continuation candle has been formed yesterday, thank to the ECB.

EURUSD daily 8-3-2012

EURUSD daily 8-3-2012

AUDUSD

Support around 1.0440 remains intact after yesterday’s test, but it’s worth to keep an eye on that level. A weak NFP figure should easily send it lower

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

Potential trade strategy: to sell on weakness below 1.0440, target at 1.0300

AUDUSD 4hrs 8-3-2012

AUDUSD 4hrs 8-3-2012

GBPUSD

Cable still holds only a few pips away from the support zone formed by the rising trendline which is connecting recent higher lows. There’s much pressure around these levels and that’s for sure

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

Potential trade strategy: to sell on breakdown below 1.5500, target at 1.5400

GBPUSD daily 8-3-2012

GBPUSD daily 8-3-2012

USDJPY

The dollar is having a hard time trying to recover against the yen, as all recovery attempts are sold quickly. Selling into rallies is still the best thing to do

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

Potential trade strategy: to sell on rally to 78.50, stop above 79, target at 77.60

 

USDJPY 15min 8-3-2012

USDJPY 15min 8-3-2012

S&P500

S&P collapsed yesterday as a result of ECB statement, but is now pulling back aiming toward former support at 1370. It all depends on what the NFP figure will be later today

SPX hourly 8-3-2012

SPX hourly 8-3-2012

Have a great day!

Dollar Up After Fed; Market Awaiting ECB

Good morning. The dollar recovered yesterday after the Fed said yesterday that the economy is weakening. The Fed left unchanged the statement that they would likely hold the rate unchanged, near zero, at least through late 2014 – and left the door open for fresh stimulus. It seems there’s a good chance we won’t see more QE in the next months since election is just around the corner and the Fed doesn’t want to appear political. The market is currently waiting for the ECB at 13:30 GMT, which is today’s major event

EURUSD

Euro declined from the 1.2330 region yesterday in risk-off trade, but it found intraday support 100 points lower, around 1.2230. There isn’t much to do until the ECB press conference.

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

Potential trade strategy: to sell on weakness below 1.2220 or sell on rally to 1.2300/30

EURUSD 4hrs 8-2-2012

EURUSD 4hrs 8-2-2012

Hourly chart:

EURUSD hourly 8-2-2012

EURUSD hourly 8-2-2012

AUDUSD

Aussie dollar has weakened, too, but remains bullish on short-term basis. Anyway, selling on the potential break below 1.0440 is tempting, so it’s worth to keep an eye on this support level

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

Potential trade strategy: to sell on breakdown below 1.0440, target at 1.0330 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