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
Showing posts with label forex tips. Show all posts
Showing posts with label forex tips. Show all posts
Sunday, March 29, 2009
Sunday, March 15, 2009
this week's calls
...reasonably pleased how last week's calls went with decent results on the swissy, cable and eur/gbp.
Now to this week's forecast:
EUR/USD: last week's long white brings a bullish tone to the world's favourite pair.. I won't be going long until I see a clear break of 1.30, mind.
GBP/USD: last week's spinning top is signalling a potential pause in the cable's current down trend. I'll be range trading initially within 1.37 and 1.43.
USD/JPY: another spinning top, but the lower highs and lows outweigh the longer lower shadow and I read a slightly stronger bearish bias. However, I'm still trading the range on this pair and looking for excuses to short above 99.25 with the reversal around 96.
USD/CHF: the SNB intervention left us with a bullish engulfing. You might try going long if price falls to 1.17, but I'd check out the action on EUR/CHF here, because that's the pair the gnomes in Zurich are worried about.
Now to this week's forecast:
EUR/USD: last week's long white brings a bullish tone to the world's favourite pair.. I won't be going long until I see a clear break of 1.30, mind.
GBP/USD: last week's spinning top is signalling a potential pause in the cable's current down trend. I'll be range trading initially within 1.37 and 1.43.
USD/JPY: another spinning top, but the lower highs and lows outweigh the longer lower shadow and I read a slightly stronger bearish bias. However, I'm still trading the range on this pair and looking for excuses to short above 99.25 with the reversal around 96.
USD/CHF: the SNB intervention left us with a bullish engulfing. You might try going long if price falls to 1.17, but I'd check out the action on EUR/CHF here, because that's the pair the gnomes in Zurich are worried about.
Wednesday, March 11, 2009
euro continues to strengthen against sterling
eur/gbp did the business (see patterns line up on the chunnel) on Monday morning and broke out of 0.9000. I got in at 0.9050 just after 10am . Price is now at .9260, I've got around 100 pips profit locked in and if I make 0.9500 before Thursday is out I'll be a happy man.
Nothing else exciting me atm.
Nothing else exciting me atm.
Labels:
eur/gbp,
forex chat,
forex forecast,
forex tips
Sunday, March 8, 2009
candle calls
Last week's doji on the euro leaves me still bearish on this pair and I'm looking to short a pullback from the 1.27 region. However, I'm also inclined to see how Monday pans out to give us a more clear direction before jumping in.
Cable's downside move last week leaves me more bearish and I'm shorting at 1.43, failing that I'll be shorting the week's first peak.
USD/CHF's spinning top was planted firmly in the 1.15-1.18 range and I'll be watching when price nears those levels once more to judge possible direction.
USD/JPY left us with a bullish spinning top last week. However, I'm going to hang loose, accept the indecision inherent in spinning top and see what the first hours of trading bring.
Cable's downside move last week leaves me more bearish and I'm shorting at 1.43, failing that I'll be shorting the week's first peak.
USD/CHF's spinning top was planted firmly in the 1.15-1.18 range and I'll be watching when price nears those levels once more to judge possible direction.
USD/JPY left us with a bullish spinning top last week. However, I'm going to hang loose, accept the indecision inherent in spinning top and see what the first hours of trading bring.
Monday, February 23, 2009
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