Tag Archives: GBPAUD

Charts to End the Week

Good morning. Dollar weakened across the board against most counter-parts, except JPY, as the Fed announced a new round of quantitative easing. Here’s what’s worth a look today

EURUSD

Buying on break of 1.3015/30 was a good idea, as EUR keeps climbing and is now flirting with resistance around 1.3100. Upside remains favored for now

Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy dips on pullback to 1.3050, target at 1.3150

EURUSD hourly 12-14-2012

EURUSD hourly 12-14-2012

Resistance around 1.3100 is more visible on the daily chart:

EURUSD daily 12-14-2012

EURUSD daily 12-14-2012

USDJPY

Yen continues to lose ground across the board and the dollar is approaching resistance around 84.30 against it.

Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to hold long, target at 84.50

USDJPY weekly 12-14-2012

USDJPY weekly 12-14-2012

Notice immediate support levels on the 4hrs chart:

USDJPY 4hrs 12-14-2012

USDJPY 4hrs 12-14-2012

NZDUSD

The kiwi dollar continues to push to the upside but it’s probably time for a correction soon. In that case, buying dips around recent support is a plan to consider

Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy dips in the .8320 area, stop below .8260, target at .8420

NZDUSD daily 12-14-2012

NZDUSD daily 12-14-2012

EURAUD

Trenline support is still intact after recent test and my plan to sell on pullback to 1.2350 was a bad idea. However, I’m still looking to sell, but this time I rather do it on the breakdown below highlighted trendline

Market sentiment: intraday – slightly bullish, short-term – bearish
Potential trade strategy: to sell on break below 1.2300, target at 1.200

EURAUD daily 12-14-2012

EURAUD daily 12-14-2012

GBPAUD

Horizontal support around 1.5270 still holds, but I don’t “trust” it much, so I’d rather sell on breakdown

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on break below 1.5270, stop above 1.5330, target at 1.5170

GBPAUD 4hrs 12-14-2012

GBPAUD 4hrs 12-14-2012

have a great weekend!

Midweek Charts to Watch

Good morning. I’ve been away for a while, but looking at current charts, it doesn’t seem that I missed anything interesting. Let’s take a closer look at today’s charts to see if there are any good trading opportunities.

EURUSD

EUR looks bullish against the USD on both intraday and short-term basis, so buying dips in case of a correction to 1.2950 or buying on the break of 1.3000/15 intraday resistance are two plans to consider. Maybe today’s Bernanke’s speech will be the catalyst fueling a dollar decline?

Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy dips on pullback to 1.2950, target at 1.3050+. Second plan is to buy on rally above 1.3015/30, target at 1.3100

EURUSD daily 12-12-2012

EURUSD daily 12-12-2012

hourly chart: 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

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 End the Week: NFP Day is Here

Good morning. Euro climbed higher against the US dollar after ECB’s Draghi comments on preserving euro. The market is currently quiet – awaiting NFP later today.

EURUSD

My previous plan to sell into rally to 1.29 wasn’t the best idea, so I’m rather looking for buying opportunities now that resistance at 1.2900 was breached

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

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

EURUSD 4hrs 10-5-2012

EURUSD 4hrs 10-5-2012

GBPAUD

GBP holds gains and it seems there’s only one way it can go: upwards

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

Potential trade strategy: to hold long while above 1.5600, short-term target at 1.6 Continue reading

Midweek Charts That Matter

Good morning. Euro is trading sideways against the dollar ahead of tomorrow’s ECB meeting. Risk-sensitive pairs such as AUDUSD and NZDUSD are losing ground, testing short-term support.

EURUSD

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

Potential trade strategy: to sell around 1.2900, target at 1.2800

EURUSD 4hrs 10-3-2012

EURUSD 4hrs 10-3-2012

GBPAUD

GBP is rallying after the nice breakout above 1.5600. Next target is at 1.6

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

Potential trade strategy: to hold long while above 1.5600, short-term target at 1.6 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. Sorry for the lack of updates, but I’ve been out of country for 1 week. Let’s see what are some of the interesting charts today

EURUSD

Corrective cycle continues as EUR retests support at 1.2920, followed below by 50% and 62% fib retracement values – an area where buying dips seems a good idea

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

Potential trade strategy: to buy dips at 1.2850, target at 1.30

EURUSD daily chart 9-24-2012

EURUSD daily chart 9-24-2012

EURGBP

Support around .7960 is in focus as EUR is losing ground against the British pound. It’s about time to see whether this decline from the .8100 zone is corrective or not.

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

Potential trade strategy: to buy dips at .7960, target at .8100 Continue reading

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