Showing posts with label forex candle analysis. Show all posts
Showing posts with label forex candle analysis. Show all posts

Sunday, March 29, 2009

last week's calm before this week's storm?

Nothing ventured...so nothing lost! Last week's dollar bear calls were not triggered so it was all quiet on the candle front.
Last week's dollar strength has given us a much different picture as we gaze into a week enlivened by the G20 summit, the ECB interest rate announcement and Friday's NFP.
EUR/USD: the euro did no more than trade within the previous week's range. Last week's key level around 1.32 still stands and price development at this level will give us a better idea on direction.
GBP/USD: Cable's gone bearish and I'll be looking for a signal to sell between 1.4350 and 1.44.
USD/JPY: last week gave us a bullish piercing lines. However, a dollar rise will be strongly resisted between 98.50 and 100.
USD/CHF: the swissy is trading in a range atm. Key levels are 1.15 and 1.1260

Thursday, March 26, 2009

E/G to make a break?

EUR/GBP is on the up once again. Yesterday's day chart completed a bullish signal (halfway between harami and engulfing). Early European trading saw the pair find support just above Tuesday's gap. Once price has broken .9380, I'm looking for a long opportunity above .94.

Tuesday, February 24, 2009

trade closes even-stevens

...trade closed at break-even and eur carried on rising past 1.2770 and is testing 1.28 once more. Once again, I'm looking for signs of a continuing downtrend and will consider opening a position if the pair falls below and then retests 1.2660.

Monday, February 23, 2009

plan for cable

...gbp/usd is on its way south after testing resistance around 1.4650. I'm waiting for a breakdown then retest of the gap at around 1.44 before selling below the breakdown low:

Sunday, February 22, 2009

candle forecast for February 22-27

Looking at this week's forecast, I'd say the dragonfly on the eur points to upside action. However, I won't be entertaining a long position before I see a daily close above 1.30. If 1.30 offers strong resistance, look to go short with a target of 1.26.
Last week's spinning top suggests that sterling is also range-bound. As the trend is still down, I'm looking for downside action around 1.46 with a target at 1.41.
Last week's upside jpy action paid me well. However Friday's US banking jitters have left me looking for signs to go long around 92 with my sights set at 94.50.
Last week's chf candle was distinctly bearish. I'm waiting for a clean break of 1.15 before jumping in.
 
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