Tag Archives: USDJPY

Monday Charts

Hello. The euro has climbed slowly against the dollar toward the 61.8% of 1.3415-1.2755 at 1.3160.A hint of current recovery was the two daily candles highlighted in my previous post and below. Buying on the breakout above this fib resistance is one thing to consider

Market sentiment: intraday – bullish, short-term – slightly bullish
Potential trade strategy: to buy on break of 1.3150, target at 1.3300, stop below 1.3080

EURUSD daily chart 7-22-2013

EURUSD daily chart 7-22-2013

USDJPY Continue reading

Tuesday Charts

Good morning.

EURUSD

Dollar pulled back against its major counter-parts, especially against the euro which is currently trading in the 50% retracement zone of the decline from 1.34 to 1.2750

Market sentiment: intraday – bullish, short-term – slightly bullish
Potential trade strategy: to buy on break of 1.3150, target at 1.3300, stop below 1.3080

EURUSD 4hrs 7-16-2013

EURUSD 4hrs 7-16-2013

It’s easier to see on the daily chart that previous daily candles are suggesting an extended recovery – as the sell-off initiated at the 61.8% retracement was limited Continue reading

Tuesday Charts

Good morning. Dollar remains strong across the board and more gains are in the cards. The setups posted last week were quite good to grab some pips.

EURUSD

Euro remains under pressure and it seems that there’s a good chance to see a test of the trendline highlighted in the daily chart below.

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to hold short @1.3100 with stop above 1.3160+, target at 1.2900.

EURUSD daily 7-2-2013

EURUSD daily 7-2-2013

USDJPY Continue reading

Thursday Charts

Good morning. The dollar keeps rising against some of its counter parts like EUR and GBP, and there’s a good chance that it will continue to post gains. Here’s an update to the charts posted yesterday

EURUSD

61.8% fib support was breached and minor rallies toward $1.31 will provide more selling opportunities

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell at 1.3100, stop above 1.3160, target at 1.2900

EURUSD 4hrs 6-27-2013

EURUSD 4hrs 6-27-2013

AUDUSD Continue reading

Midweek Charts

I’ve taken another break from updating the blog due to limited time which caused a disconnect between me and the charts. Less time for trading means less time for writing, and I apologize to those readers who had a habit of checking this site on a regular basis. I’m going to make a few changes to see if a new schedule better fits with my day by day stuff (not trading related). For this reason, I might publish updates more often during the evening (European time).

This being said, let’s get straight to some charts.

EURUSD

Ongoing decline doesn’t seem to be over yet and there’s pressure on the 61.8% retracement value around 1.3060. That MA zone highlighted in the chart below was a good support during the uptrend and I believe that it’s still valid – but this time as a resistance layer. So either selling on a break below this 61.8% (the aggressive way) or on a pullback to 1.3100-50 area is the way to go.

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell at 1.3100-50, stop above 1.3200, target at 1.2900.

EURUSD 4hrs 6-26-2013

AUDUSD Continue reading

Charts to End the Week

Good morning. Dollar weakened across the board against most counter-parts, except JPY, as the Fed announced a new round of quantitative easing. Here’s what’s worth a look today

EURUSD

Buying on break of 1.3015/30 was a good idea, as EUR keeps climbing and is now flirting with resistance around 1.3100. Upside remains favored for now

Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy dips on pullback to 1.3050, target at 1.3150

EURUSD hourly 12-14-2012

EURUSD hourly 12-14-2012

Resistance around 1.3100 is more visible on the daily chart:

EURUSD daily 12-14-2012

EURUSD daily 12-14-2012

USDJPY

Yen continues to lose ground across the board and the dollar is approaching resistance around 84.30 against it.

Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to hold long, target at 84.50

USDJPY weekly 12-14-2012

USDJPY weekly 12-14-2012

Notice immediate support levels on the 4hrs chart:

USDJPY 4hrs 12-14-2012

USDJPY 4hrs 12-14-2012

NZDUSD

The kiwi dollar continues to push to the upside but it’s probably time for a correction soon. In that case, buying dips around recent support is a plan to consider

Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy dips in the .8320 area, stop below .8260, target at .8420

NZDUSD daily 12-14-2012

NZDUSD daily 12-14-2012

EURAUD

Trenline support is still intact after recent test and my plan to sell on pullback to 1.2350 was a bad idea. However, I’m still looking to sell, but this time I rather do it on the breakdown below highlighted trendline

Market sentiment: intraday – slightly bullish, short-term – bearish
Potential trade strategy: to sell on break below 1.2300, target at 1.200

EURAUD daily 12-14-2012

EURAUD daily 12-14-2012

GBPAUD

Horizontal support around 1.5270 still holds, but I don’t “trust” it much, so I’d rather sell on breakdown

Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on break below 1.5270, stop above 1.5330, target at 1.5170

GBPAUD 4hrs 12-14-2012

GBPAUD 4hrs 12-14-2012

have a great weekend!

Midweek Charts to Watch

Good morning. I’ve been away for a while, but looking at current charts, it doesn’t seem that I missed anything interesting. Let’s take a closer look at today’s charts to see if there are any good trading opportunities.

EURUSD

EUR looks bullish against the USD on both intraday and short-term basis, so buying dips in case of a correction to 1.2950 or buying on the break of 1.3000/15 intraday resistance are two plans to consider. Maybe today’s Bernanke’s speech will be the catalyst fueling a dollar decline?

Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy dips on pullback to 1.2950, target at 1.3050+. Second plan is to buy on rally above 1.3015/30, target at 1.3100

EURUSD daily 12-12-2012

EURUSD daily 12-12-2012

hourly chart: 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 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

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!