Tag Archives: USDCAD

Monday Charts

Good morning. Off-topic question: does this site load slow for you? I’ll make some changes in the coming days to make it run faster i.e. hosting location, disabling most plugins etc.

Back to our charts.

EURUSD

Euro keeps getting closer to recent lows in the 1.27 area and so there’s just no reason to expect seeing a strong recovery yet. Selling into minor rallies is probably the best bet for now. The upward trendline highlighted last week (and below) has been breached and is now providing resistance

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on pullback to 1.2900, stop above 1.2960, target at 1.2800 and lower

EURUSD daily 7-8-2013

EURUSD daily 7-8-2013

EURCAD Continue reading

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

Tuesday Charts

Good morning. Dollar is dropping across the board along with the Japanese yen. AUDJPY is now well over the 100 mark while the USDJPY is only 1 figure away from the psychological barrier of 100. Will it get there? yes, it is only a matter of time (a few days or less).

EURUSD

EUR recovered against the dollar since my previous post. It did, however, reached my target at 1.2750 from the selling zone of 1.2850. Now I’m looking to the other side: planning to buy it

Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy on break above 1.3050, stop at 1.2980, target at 1.3220
EURUSD daily 04-09-2013

 

AUDUSD Continue reading

Tuesday Charts of Interest

Good morning. The last few days have been bad for the euro as it retreated against its major counterparts across the board.

EURUSD

Former support at $1.2800/20 was easily breached and there is no sign of relief ever since. Should the euro recover some ground though, it’s quite possible that more sellers are waiting in line to pull it lower.

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on pullback to 1.2730, stop above 1.2780, target at 1.2600

EURUSD daily 11-13-2012

EURUSD daily 11-13-2012

hourly chart:

EURUSD hourly 11-13-2012

EURUSD hourly 11-13-2012

EURJPY

Support at 100 is again in focus after several failed attempts to break above 104. There are two scenarios to consider: 1 – EUR forming a reversal candle around support, hence a buy signal or 2. strong decline below 100, hence a sell signal

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to buy around 100 in case of a reversal candle formation or sell on breakdown below 100 Continue reading

Charts to End the Week

Good morning. Euro continues to lose ground across the board while the dollar is strengthening, providing some good buying opportunities in several pairs. Let’s take a look at some of today’s interesting charts

EURUSD

The euro failed to hold above support region formed by the two fib lines, so it’s probably better to sell into the weakness below that support instead of holding a long position (dip bought on the correction to 1.2950 earlier this week)

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell around 1.2930, target at 1.2825

EURUSD 4hrs 10-26-2012

EURUSD 4hrs 10-26-2012

EURGBP

Selling on the breakdown below .8100 was definitely a good plan and it doesn’t look like this decline is over. Fib support formed by the 61.8% retracement value of last up leg is currently being tested. Selling on correction to .8065/70 or on break below .8020 are two plans to consider

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on correction to .8060 or on break below .8010/20, target at .7900 Continue reading

Thursday Charts of Interest

Good morning. Not much happened across the charts after yesterday’s important events – such as Fed’s interest rate decision, Draghi’s speech etc. The euro continued to weaken against the US dollar but managed to find support in the fib range highlighted below. Should this be a simple corrective decline? we’ll find out very soon

Market sentiment: intraday – bullish, short-term – mixed
Potential trade strategy: to hold a small long position, target at 1.3070

EURUSD 4hrs 10-25-2012

EURUSD 4hrs 10-25-2012

EURGBP

Support zone which was freshly formed a few days ago at .8100 is now providing intraday resistance as EUR failed to hold above.

Market sentiment: intraday – bearish, short-term – bullish
Potential trade strategy: to sell at .8110, target at .8010 Continue reading

Tuesday Charts That Matter

Good morning. Euro failed to recover above $1.31 and resumed decline – testing the lower $1.30 zone at time of writing. Daily chart is bullish while it looks heavier on the intraday ones.

EURUSD

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

Potential trade strategy: to buy on retracement to 1.2970, target at 1.3070

EURUSD 4hrs 10-23-2012

EURUSD 4hrs 10-23-2012

USDCHF

A potential breakout would result in EURUSD declining even more

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

Potential trade strategy: to buy on strong rally above .9290, target at .9390

USDCHF 4hrs 10-23-2012

USDCHF 4hrs 10-23-2012

USDCAD

The US dollar continues to strengthen against its Canadian counterpart – approaching parity. Interim resistance is formed at .9950, so a breakout seems to be just around the corner – hence a new buying opportunity

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

Potential trade strategy: to buy on rally above .9950, target at 1.0150 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. 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

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