Tag Archives: EURJPY

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

Thursday Charts That Matter

Good morning. Euro continues to weaken after Spain’s downgrade by S&P and ahead of Italy’s bond auction later today. Other important economic events today are the US trade balance and initial jobless claims

EURUSD already erased last week’s gains and it seems there’s much pressure on the $1.2800/25 support level. 1.26 is next floor to watch in case 1.2800/25 fails. I am bearish while it holds below 1.3

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

Potential trade strategy: to sell at 1.2950, stop above 1.300, target at 1.2600

EURUSD daily 10-11-2012

EURUSD daily 10-11-2012

EURGBP

Resistance at .8100 remained intact as EUR started to lose ground across the board. The question now is whether current movement is corrective or not, so it’s time to keep an eye on fib support zone around .8000

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

Potential trade strategy: to buy dips at .8000 if support holds, target at .8100 Continue reading

Charts to Start the Week

Good morning. Euro rallied but faced resistance after Friday’s NFP data release, which came at 114k vs. consensus of 113k. The unemployment rate dropped to 7.8%, fueling the conspiracy theories that the number was fake in order to aid President Obama’s re-election.

EURUSD

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

Potential trade strategy: to buy dips at 1.2950, target at 1.3050

EURUSD 4hrs 10-8-2012

EURUSD 4hrs 10-8-2012

EURJPY

The Japanese yen is strengthening across the board and there’s a good chance that support at 101 will be in focus soon

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

Potential trade strategy: to buy dips at 101.10, target at 102 Continue reading

Charts to Start the Week

Good morning. The euro is retesting support formed by the fib range between 1.2770 and 1.2840, after a failed attempt to recover above 1.29 on Friday. Some of the most important economic events this week are: Bernanke’s speech later today, ECB’s rate decision on Thursday and the NFP on Friday.

EURUSD

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

Potential trade strategy: none

EURUSD 4hrs 10-1-2012

EURUSD 4hrs 10-1-2012

GBPAUD

Resistance around 1.5600 is again under pressure after a weak pullback on Friday which rather confirms current bullish sentiment.

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

Potential trade strategy: to buy on breakout above 1.5600, short-term target at 1.6 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 End the Week

Good morning. The euro and risk currencies such as AUD rallied yesterday after the ECB meeting. Euro is currently holding gains above $1.2600, being ready for another leg up to $1.27 – $1.28. Most important economic event today is the US NFP data release

EURUSD

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

Potential trade strategy: to hold long, target at 1.28

EURUSD daily 9-7-2012

EURUSD daily 9-7-2012

4-hrs chart:

EURUSD 4hrs 9-7-2012

EURUSD 4hrs 9-7-2012

EURJPY

Euro exited the consolidation range, providing a nice breakout trade opportunity. Next target is at 101-101.50

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

Potential trade strategy: to hold long, target at 101 Continue reading

EUR: Up Ahead of ECB meeting

Good morning. EUR rallied across the board yesterday on news that ECB plans to buy unlimited debt and is holding gains near resistance levels ahead of today’s ECB meeting.

EURUSD

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

Potential trade strategy: to hold long or buy on the break of 1.2630/50, target at 1.28

EURUSD 4hrs 9-6-2012

EURUSD 4hrs 9-6-2012

EURJPY

EURJPY bounced off horizontal channel support line yesterday and reached the channel’s upper limit. There’s a good chance for a breakout above this resistance, so keep an eye on it.

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

Potential trade strategy: to buy on breakout above 99, short-term target at 101 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 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

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