Tag Archives: SPX

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

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

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

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!

Charts to end the week 6/22/12

Feelings are not supposed to be logical. Dangerous is the man who has rationalized his emotions. ~ David Borenstein

Good morning. Many pairs reversed course from fresh tops and ended in negative territory yesterday, especially the risk sensitive ones following stock indices – S&P500 and Dow suffering their second-largest loss this year. To sum it up in a nutshell: what goes up, must come down. Here are a few charts depicting current market sentiment

EURUSD

There’s no sign yet that current decline has come to an end, so it’s a good idea to expect a test of 1.2440/50 which is the next support. In case of upside pullbacks, former support around the upward trendline should provide a decent selling point

EURUSD Chart 4hrs 6-22-2012

EURUSD Chart 4hrs 6-22-2012

Dollar Index Continue reading

Breakout Watchlist 6/19/12

Here’s a couple of charts on my breakout radar screen these days. Some breakouts already occurred and barriers are tested from the other side, while some are likely to occur.

S&P500

SPX Daily Breakout 6-19-2012

SPX Daily Breakout 6-19-2012

GBPUSD Continue reading

Charts to Start the Week 6/18/12

Problems are only opportunities with thorns on them. ~ Hugh Miller

Good morning. I’ve just returned from a 1-week trip in Montenegro, so that’s why I didn’t update the site since 8th of June. But now I’m back on track.

USD Index

Support around 82 has been breached and next one to keep an eye on is around 81, formed by a top of March and May’s short-lived correction. Ongoing risk rally should favour further downside for the dollar, so a test of 81 is in the cards

USD Index Daily 6-18-2012

USD Index Daily 6-18-2012

S&P500

Recovery continues and 1340 barrier is being breached. Next important resistance is seen at 1400, but there’s also 1360 on the way upwards Continue reading

Charts to End the Week 6/8/12

Creativity comes from trust. Trust your instincts. And never hope more than you work. ~ Rita Mae Brown

Good morning. The dollar found support at 82 and bounced back to 82.60, while the euro lost ground after touching resistance at $1.2620.

USD Index

USD Index Daily 6-8-2012

USD Index Daily 6-8-2012

S&P500

1300 was breached easily and now it’s time to keep an eye on it, again, but this time providing support Continue reading

Midweek charts to watch 6/6/12

If someone in your life talked to you the way you talk to yourself, you would have left them long ago. ~ Carla Gordon

Good morning. Dollar is in correction mode while the euro is recovering some of its recent losses. Other risk-sensitive pairs are recovering and there are some reversal patterns across the board, mainly in highly correlated pairs, suggesting that an extended correction is due. The ECB rate decision is today’s key event.

USD Index

A solid hint of this correction was the reversal bar formed after reaching a fresh top. Next support to keep an eye on is at 82 and I think that’s easy to reach

USD Index Daily 6-6-2012

USD Index Daily 6-6-2012

S&P500

It seems that the bear flag formation was valid, hence the strong decline below 1300 – which became resistance. Continue reading

NFP Day is Here

As a speculator you must embrace disorder and chaos. ~ Louis Bacon

Good morning and Happy NFP Day! Dollar holds gains ahead of today’s Job Report, while EUR struggles to recover – currently trading in the $1.23 zone – which is quite far below former key support at $1.26. Here are some charts of interest for today:

USD Index

USD Index Daily 6-1-2012

USD Index Daily 6-1-2012

 S&P500

still in consolidation mode between 1300 and 1340 and it looks like a bear flag. There’s much pressure on support zone at 1300 and today’s NFP should provide the fuel to exit the range Continue reading