Tag Archives: GBPUSD

Monday Charts

Good morning. Here’s a quick look at some of today’s charts

EURUSD

The euro slipped below 1.300 against the US dollar and the decline is likely to continue, providing a potential opportunity to sell into weak rallies toward resistance at 1.300

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on rally to 1.300, stop above 1.3060, target at 1.2800

EURUSD hourly 5-13-2013

EURUSD hourly 5-13-2013

Daily chart Continue reading

Thursday Charts

Good morning. The euro recovered across the board but pulled back against the dollar yesterday, so the question now is whether current decline is corrective or not. Let’s take a look at a few interesting charts

EURUSD

Yesterday’s decline suggests that Euro’s recovery is corrective. See the daily chart below.

Market sentiment: intraday – bearish, short-term – slightly bullish
Potential trade strategy: to sell on rally to 1.3100, stop above 1.3170, target at 1.2850

EURUSD daily 4-18-2013

EURUSD daily 4-18-2013

Here’s the 4-hrs chart, where I highlighted the dynamic resistance range formed by the moving average lines. As long as it holds below 1.31, downside is favored  Continue reading

Thursday Charts

Good morning. The euro continues to decline as there are fears of Cyprus contagion and it’s quite obvious that the decline is far from over. Today’s important events in the FX calendar is the Initial Jobless Claims and GDP

EURUSD

Downtrend remains strong and all pullbacks are providing good selling opportunities. As a small update to my previous post, the EUR went down as expected and I remain quite confident that selling into rallies is the best thing to do.

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on pullback to 1.2850, stop above 1.2910, target at 1.2750 or lower

EURUSD 4hrs 3-28-2013

EURUSD 4hrs 3-28-2013

GBPUSD

I was wrong expecting the recovery to continue without getting much lower below 1.52. Well, it’s the EURUSD to blame for other currencies weakness against the USD nowadays. Current 4hrs chart suggests that decline is likely to continue

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on break below 1.5100, target at 1.4900 Continue reading

Charts to Start the Week

Good morning. The euro is getting a lift on news that finance ministers from Euro zone approved a bailout plan for Cyprus. Bernanke’s speech is today’s most important event

EURUSD

Resistance formed around 1.3050 is intact after today’s test, hence selling into current area is probably a good idea. Although buying on the potential breach of 1.3050 is kind of tempting, it’s still too risky to buy EUR at this moment.

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell in the 1.300-1.3050 area, stop above 1.3080, target at 1.2900

EURUSD 4hrs 3-25-2013

EURUSD 4hrs 3-25-2013

GBPUSD 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

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!