Tag Archives: Silver

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 End the Week

EURUSD

Good morning. Euro is currently recovering some ground after it found support at the 50% fib retracement value, around 1.2840.

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

Potential trade strategy: to hold long, target at 1.31

EURUSD 4hrs 9-28-2012

EURUSD 4hrs 9-28-2012

GBPCAD

A reversal candle was formed yesterday, so it’s likely to see more weakness developing in the coming sessions. 1st support to keep an eye on is around 1.5850

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

Potential trade strategy: to sell at 1.5920, target at 1.5800/20

GBPCAD daily 9-28-2012

GBPCAD daily 9-28-2012

EURAUD

It’s pretty obvious that AUD is a better performer than EUR these days, and that’s why this breakdown looks good so far.

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

Potential trade strategy: to sell at 1.2370, target at 1.2200

EURAUD 4hrs 9-28-2012

EURAUD 4hrs 9-28-2012

CADCHF

Resistance at .9580 is still intact but it seems that price is pushing higher, about to retest it. Buying on the break higher is one thing to consider

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

Potential trade strategy: to buy on break of .9580, target at .9680

CADCHF 4hrs 9-28-2012

CADCHF 4hrs 9-28-2012

AUDJPY

AUDJPY is currently testing resistance formed by former support trend line. Will it break?

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

Potential trade strategy: none

AUDJPY chart 4hrs 9-28-2012

AUDJPY chart 4hrs 9-28-2012

Silver

Resistance at 35 is again in focus as silver is climbing higher, after it found support around 33.50.

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

Potential trade strategy: to buy on break of 35, target at 37

Silver 4hrs 9-28-2012

Silver 4hrs 9-28-2012

have a great weekend

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

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

Thursday Charts That Matter 8/9/12

Good morning. Risk pairs keep rising while the dollar is losing ground across the board. EUR holds onto gains at $1.2370 at time of writing after bouncing off support around 1.2320.

EURUSD

Intraday sentiment remains slightly bullish while EUR holds above 1.2320 but is losing strength on daily charts, so a daily close above $1.2400 is needed to maintain positive momentum.

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

Potential trade strategy: to buy dips at 1.2300/20, target above 1.24. Another setup (short-term) is to buy on break above 1.2400, target above 1.26

EURUSD 4hrs 8-9-2012

EURUSD 4hrs 8-9-2012

AUDUSD

Aussie dollar holds above support provided by the MA lines and 1.0440 which was breached a few days ago. Buying dips and into strength are the best things to do.

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

Potential trade strategy: to buy dips in the 1.0550-1.0570 area, target around 1.07. Buying on strength above 1.0610/20 is another plan to consider Continue reading

Tuesday Charts 5/29/12

A lie gets halfway around the world before the truth has a chance to get its pants on. ~ Winston Churchill

Good morning. Euro remains under pressure, but still holds above $1.2500 support. Dollar maintains bullish trend while above support layer formed by the two horizontal lines seen below

USD Index

USD Index Daily 5-29-2012

USD Index Daily 5-29-2012

 S&P500

Recovery fails to impress so far. And that’s totally understandable – as world markets are fully correlated.

SPX Chart Daily -29-2012

SPX Chart Daily -29-2012

EURUSD

Former support at 1.2620 has been breached and is now providing resistance. Selling into (modest) rallies is probably the best thing to do

EURUSD Chart Daily 5-29-2012

EURUSD Chart Daily 5-29-2012

Same resistance level at 1.2600/20 is easy to spot on hourly chart

EURUSD Chart Hourly 5-29-2012

EURUSD Chart Hourly 5-29-2012

USDCHF

Breakout underway – yesterday’s small correction was short-lived. I’m expecting more upside action

USDHCF Chart Daily 5-29-2012

USDHCF Chart Daily 5-29-2012

NZDUSD

Resistance around .7670 is again in focus as NZD recovers some ground following AUDJPY, but remains bearish on a larger-time frame ( >=1D )

USDNZD Chart 4hrs 5-29-2012

USDNZD Chart 4hrs 5-29-2012

USDCAD

Support is under pressure at time of writing and there’s a good chance that correction is about to extend lower, towards 1.0150

USDCAD Chart 4hrs 5-29-2012

USDCAD Chart 4hrs 5-29-2012

AUDNZD

1.300/30 was a tough barrier and it doesn’t seem that current decline is over. AUD found some bids at 1.29 but they’re weak, so it’s best to keep an eye on this support level as a breakdown could be just around the corner

AUDNZD Chart Daily 5-29-2012

AUDNZD Chart Daily 5-29-2012

Silver

28.80/00 under pressure… makes sense to buy on break

Silver Chart daily 5-29-2012

Silver Chart daily 5-29-2012

EURAUD

Now that range’s support at 1.2780 was breached, it’s definitely not a good intention to catch a falling knife but rather wait for a correction and join the bears

EURAUD Chart 4hrs 5-29-2012

EURAUD Chart 4hrs 5-29-2012

have a great day

Charts to End the Week 5/25/12

In these days, a man who says a thing cannot be done is quite apt to be interrupted by some idiot doing it. ~ Elbert Hubbard

Good morning. The euro continues decline, being set for the biggest weekly loss this year, while the dollar is testing fresh highs – after a minor correction from 81.70 to 81.

USD Index

Dollar Index Daily 5-25-2012

Dollar Index Daily 5-25-2012

S&P500

Psychological barrier at 1300 remains intact and seems rather strong so far, hence I believe that a correction towards 1340 is likely

SPX Chart Daily 5-25-2012

SPX Chart Daily 5-25-2012

EURUSD

New resistance is now formed at 1.2600/25 as seen below. Continue reading

Charts to Start the Week 4/30/12

Greed is a fat demon with a small mouth and whatever you feed it is never enough. ~ Janwillem van de Wetering

Good morning. Euro holds onto gains above $1.32 after it recovered on Friday from $1.3150 lows. All eyes are on Spain today, as the Spanish government holds a media briefing to explain austerity steps. The ECB rate decision and Friday’s Employment report are this week’s most important events. Here are some of the charts worth watching in the coming trading sessions

USD Index

Trendline support was breached, so it will probably provide a selling area in case of an upside pullback.

USD Index Daily 4-30-2012

USD Index Daily 4-30-2012

S&P500

The recovery above 1400 suggests that more upside action is likely, hence a good idea to keep an eye on 1420 which is the next horizontal barrier

SPX Chart Daily 4-30-2012

SPX Chart Daily 4-30-2012

EURUSD

Most important corrections provided good buying opportunities lately and I think that the theme will remain unchanged. Continue reading