Tag Archives: EURGBP

Tuesday Charts to Watch

Good morning. Dollar resumed rally after Friday’s NFP and the euro declined from 1.31 area to 1.2955.

EURUSD

It was a good plan to hold short ahead of Friday’s NFP, and I believe that current pullback is corrective, as EUR is showing signs of exhaustion after recovering from 1.2950 area to 1.3050 – currently trading around 1.3015

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell into rally around 1.3050, stop above 1.3100, target at 1.2950

EURUSD hourly 3-12-2013

EURUSD hourly 3-12-2013

EURJPY

Former resistance formed by the downward trendline connection recent lower highs provided support on pullback, as expected in my previous post. Next support is formed around 125.00 – buying at this level is a plan to consider

Market sentiment: intraday – bullish, short-term – slightly bullish
Potential trade strategy: to buy dips around 125, stop below 124.50, target at 126+ Continue reading

Tuesday Charts That Matter

Good morning. The euro keeps climbing higher, flirting with $1.300 on Greek optimism. Bernanke’s speech is today’s notable event

EURUSD

As seen on the chart below, there are no important barriers up to around 1.3130 which is the recent top.

Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy dips at 1.2950, target at 1.3050+

EURUSD daily 11-27-2012

EURUSD daily 11-27-2012

GBPUSD

Cable is still trading within the downward channel but is now testing resistance formed by the downward trendline connecting recents highs. So the question is whether the channel will remain intact or not. A daily close above the resistance is what I’m looking for before considering a bullish position

Market sentiment: intraday – bullish, short-term – bearish
Potential trade strategy: to buy after a potential daily close above 1.6050-1.6100, target at 1.6250 Continue reading

Midweek Charts to Watch

Good morning. EUR declined overnight on disappointing Greek aid-talk results.

EURUSD

EUR found temporary support between the two fib lines highlighted in the hourly chart below. However, it’s probably a safer trading plan to look for selling opportunities on rally to $1.2800

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on pullback to 1.2800, stop above 1.2850, target below 1.2700

EURUSD hourly 11-21-2012

EURUSD hourly 11-21-2012

EURJPY

There’s a good chance that the EUR will keep climbing above 103.50-104 due to yen’s weakness across the board these days.

Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy at 104.00, target at 106 Continue reading

Tuesday Breakout Trading Opportunities to Consider

Good morning. Aussie dollar is rising across the board after the RBA kept interest rates at 3.25% instead of cutting to 3%, as widely expected. The euro is losing ground on more Greece worries. The U.S. Election is definitely this week’s most important event. There are some nice breakout trading opportunities to watch in the coming sessions:

EURUSD

Euro breached below support at 1.2820 and there’s no sign of relief yet; therefore selling on minor intraday pullbacks to the upside is, in my opinion, the best thing to do in the coming sessions

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on pullback to 1.2820, target at 1.2620

EURUSD daily 11-6-2012

EURUSD daily 11-6-2012

EURGBP

Although the daily chart is obviously bearish, there are some clues on the 4hrs chart suggesting that a temporary bottom is being formed. If that’s about to happen, then buying on the rally above .8010 is a strategy to consider. Meanwhile, holding short should be just fine

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to hold short while below .8010, target at .7900; but also considering a buying opportunity on the break above .8010 Continue reading

NFP Day is Here: Charts to End the Week

Good morning. The NFP day is here (consensus is 125k and 7.9% unemployment), so let’s take a look at some of today’s interesting charts

EURUSD

Support at 1.2880/00 is under pressure as EUR failed to recover above $1.300. More losses are likely

Market sentiment: intraday – bearish, short-term – neutral
Potential trade strategy: to sell on breach below 1.2880, target at 1.2800

EURUSD 4hrs 11-2-2012

EURUSD 4hrs 11-2-2012

EURJPY

Resistance around 104.00 is in focus today as the Japanese yen continues to weaken across the board. A breakout trade is rather tempting

Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy on break above 103.90/00, target at 105 Continue reading

Midweek Charts to Watch

Good morning. It’s pretty obvious that Hurricane Sandy has an impact on the currency markets, especially due to NY Stock Exchange being closed for two days. Let’s see what are some of today’s interesting charts

EURUSD

The euro found some bids at $1.29 upward trendline and managed to climb above the downward trendline which is connecting recent lower highs. It looks slightly bullish for now and there’s a good chance that other risk sensitive pairs are going to push the EURUSD higher

Market sentiment: intraday – bullish, short-term – bearish
Potential trade strategy: to buy around 1.2960, target at 1.3060

EURUSD 4hrs 10-31-2012

EURUSD 4hrs 10-31-2012

EURGBP

The reversal candle formed around the 62% fib of last up leg suggests that recovery is going to continue. However, it is very weak and bulls should be careful

Market sentiment: intraday – bullish, short-term – bearish
Potential trade strategy: to sell around current levels, stop/reverse above .8100, target below .8000 Continue reading

Charts to End the Week

Good morning. Euro continues to lose ground across the board while the dollar is strengthening, providing some good buying opportunities in several pairs. Let’s take a look at some of today’s interesting charts

EURUSD

The euro failed to hold above support region formed by the two fib lines, so it’s probably better to sell into the weakness below that support instead of holding a long position (dip bought on the correction to 1.2950 earlier this week)

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell around 1.2930, target at 1.2825

EURUSD 4hrs 10-26-2012

EURUSD 4hrs 10-26-2012

EURGBP

Selling on the breakdown below .8100 was definitely a good plan and it doesn’t look like this decline is over. Fib support formed by the 61.8% retracement value of last up leg is currently being tested. Selling on correction to .8065/70 or on break below .8020 are two plans to consider

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on correction to .8060 or on break below .8010/20, target at .7900 Continue reading

Thursday Charts of Interest

Good morning. Not much happened across the charts after yesterday’s important events – such as Fed’s interest rate decision, Draghi’s speech etc. The euro continued to weaken against the US dollar but managed to find support in the fib range highlighted below. Should this be a simple corrective decline? we’ll find out very soon

Market sentiment: intraday – bullish, short-term – mixed
Potential trade strategy: to hold a small long position, target at 1.3070

EURUSD 4hrs 10-25-2012

EURUSD 4hrs 10-25-2012

EURGBP

Support zone which was freshly formed a few days ago at .8100 is now providing intraday resistance as EUR failed to hold above.

Market sentiment: intraday – bearish, short-term – bullish
Potential trade strategy: to sell at .8110, target at .8010 Continue reading

Thursday Charts That Matter

Good morning. The euro and other risk-sensitive currencies gained more ground since Tuesday and it’s likely that they would continue on the same path in the coming days.

EURUSD

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

Potential trade strategy: to buy either on break of 1.3150 or on a pullback to 1.3050, target at 1.3250+

EURUSD daily 10-18-2012

EURUSD daily 10-18-2012

EURGBP

Resistance at .8100 was breached and provides short-term support now.

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

Potential trade strategy: to hold long, target at .8200+ Continue reading

Some Tuesday Charts to Watch

Good morning. Euro seems to be getting some relief, retesting 1.300 at time of writing. A breach would open the door to 1.32-1.33. German Zew and US CPI are today’s most important events.

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

Potential trade strategy: none

EURUSD hourly 10-16-2012

EURUSD hourly 10-16-2012

4hrs chart: 1.3070 follows 1.300 as next upside barrier to watch

EURUSD 4hrs 10-16-2012

EURUSD 4hrs 10-16-2012

EURGBP

.8100 is again in focus as EUR found bids around .8020 last week. Perhaps it’s time to end the consolidation and break above .8100 soon?

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

Potential trade strategy: to buy on break of .8100, target at .8200 Continue reading