Tag Archives: USDCHF

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. Euro recovered some ground across the board mainly due to EURJPY rallying on prospects Japanese elections next month will result in aggressive monetary easing. USDJPY also rallied well above 80.00 – reaching levels last seen in April. There are several important economic events today, such as the US CPI, initial jobless claims and – more importantly – Bernanke’s speech.

EURUSD

Resistance at 1.2775/00 is still intact after recent test, when a reversal candle was formed

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to hold short while 1.2775/00 is intact, target at 1.2600

EURUSD hourly 11-15-2012

EURUSD hourly 11-15-2012

EURJPY

The reversal candle formed near support at 100 is the one I was waiting to see in my previous article. What happened next was an 200+ points rally.

Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to hold long, target above 104 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

Tuesday Breakout Trading Opportunities to Consider

Good morning. Aussie dollar is rising across the board after the RBA kept interest rates at 3.25% instead of cutting to 3%, as widely expected. The euro is losing ground on more Greece worries. The U.S. Election is definitely this week’s most important event. There are some nice breakout trading opportunities to watch in the coming sessions:

EURUSD

Euro breached below support at 1.2820 and there’s no sign of relief yet; therefore selling on minor intraday pullbacks to the upside is, in my opinion, the best thing to do in the coming sessions

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on pullback to 1.2820, target at 1.2620

EURUSD daily 11-6-2012

EURUSD daily 11-6-2012

EURGBP

Although the daily chart is obviously bearish, there are some clues on the 4hrs chart suggesting that a temporary bottom is being formed. If that’s about to happen, then buying on the rally above .8010 is a strategy to consider. Meanwhile, holding short should be just fine

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to hold short while below .8010, target at .7900; but also considering a buying opportunity on the break above .8010 Continue reading

NFP Day is Here: Charts to End the Week

Good morning. The NFP day is here (consensus is 125k and 7.9% unemployment), so let’s take a look at some of today’s interesting charts

EURUSD

Support at 1.2880/00 is under pressure as EUR failed to recover above $1.300. More losses are likely

Market sentiment: intraday – bearish, short-term – neutral
Potential trade strategy: to sell on breach below 1.2880, target at 1.2800

EURUSD 4hrs 11-2-2012

EURUSD 4hrs 11-2-2012

EURJPY

Resistance around 104.00 is in focus today as the Japanese yen continues to weaken across the board. A breakout trade is rather tempting

Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy on break above 103.90/00, target at 105 Continue reading

Midweek Charts to Watch

Good morning. It’s pretty obvious that Hurricane Sandy has an impact on the currency markets, especially due to NY Stock Exchange being closed for two days. Let’s see what are some of today’s interesting charts

EURUSD

The euro found some bids at $1.29 upward trendline and managed to climb above the downward trendline which is connecting recent lower highs. It looks slightly bullish for now and there’s a good chance that other risk sensitive pairs are going to push the EURUSD higher

Market sentiment: intraday – bullish, short-term – bearish
Potential trade strategy: to buy around 1.2960, target at 1.3060

EURUSD 4hrs 10-31-2012

EURUSD 4hrs 10-31-2012

EURGBP

The reversal candle formed around the 62% fib of last up leg suggests that recovery is going to continue. However, it is very weak and bulls should be careful

Market sentiment: intraday – bullish, short-term – bearish
Potential trade strategy: to sell around current levels, stop/reverse above .8100, target below .8000 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

Tuesday Charts 8/7/12

Good morning. Friday’s positive NFP figure has sent risk-sensitive currencies higher against the US dollar. The euro managed to overcome former resistance barrier in the lower $1.23 zone and is now hovering near $1.24.

EURUSD

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

Potential trade strategy: to buy dips at 1.2320, target above 1.24

EURUSD daily 8-7-2012

EURUSD daily 8-7-2012

This support range between 1.2290 and 1.2325 is even easier to notice on the hourly chart below Continue reading