Tag Archives: Japanese Yen

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 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

Charts to Start the Week

Good morning. Euro holds gains around $1.2500 at time of writing and more upside action is likely, as next barrier is formed at $1.2700.

EURUSD

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

Potential trade strategy: to buy dips at 1.2440/50, stop below 1.2400, target at 1.2650

EURUSD daily 8-27-2012

EURUSD daily 8-27-2012

hourly chart:

EURUSD hourly 8-27-2012

EURUSD hourly 8-27-2012

AUDCAD 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