DAILY FORECAST FOR AUDUSD Bias: Mixed – waiting for breaks The break above 0.7299-25 and also 0.7340 saw gains reach the 0.7384 target from where we have seen a pullback lower. If I have any preference here it is bullish even if there is a gaping bearish divergence. The problem with this one is that [...] [...more]
Overall I’m not too sure what to make of yesterday. There were some good calls on support/resistance though only a limited number provided any pattern based confirmation while the break above 98.04-16 USDJPY has left me annoyed as I had really expected a more bearish outcome. The stalling points in the Dollar’s losses are also [...] [...more]
EURUSD did break the long term trend line and is reaching the resistance line, will it bounce again from resistance? So at the moment waiting is better solution in order to let the candles draw a clear picture, however candles are now in positive zone but still its better to wait now. TA.EURUSD 2009-04-30.pdf [...more]
DAILY FORECAST FOR GBPUSD Bias: Unless we see a break above 1.4833-40 I feel a correction to 1.4672 is more likely Now that we’ve seen a break higher I feel that any decline will be corrective. I do see resistance at 1.4833-40 and while this holds there is risk of losses back below 1.4736 and [...] [...more]
Well, I can’t claim there was any range trading yesterday… The medium term Dollar bearish outlook appears to be developing directly and this should be the theme for the coming days and probably overall another 2-3 weeks. We are due a correction though. I have to add a little caution as if the market has [...] [...more]
EURUSD a bounce back can be fake and it can still move up to 1.3240 where its going to touch trend line if the trend line will be broken the neutral trend will take affect. But for now until negative trend line is still valid – better to take selling positions. TA.EURUSD 2009-04-29.pdf [...more]
Overall I was pretty happy with the ways things went yesterday. There were a few deviations from the price path I had envisaged but not too far with the main emphasis on a reversal lower for the Dollar developing well by the European afternoon. I remain Dollar bearish in the medium term but the near [...] [...more]
DAILY FORECAST FOR USDCHF Bias: Mixed – but feel that while 1.1479 caps there may still be room for losses to 1.1349 before higher The break below 1.1543 was enough to trigger a solid follow-through which has reached 1.1418 thus far. I feel there may be a risk of a pullback to 1.1479 but look [...] [...more]
28/04/09 Trade suggestions for the next 24 hours New positions Medium term, sell GBP/USD at 1.4850 target 1.4320 with a 1.5050 initial stop loss Medium term, sell AUD/USD at 0.7280 target 0.6930 with a 0.7415 initial stop loss Medium term, buy USD/JPY at 94.20 target 97.90 with no initial stop loss Existing positions Medium term, [...] [...more]
EURUSD looks like moving down to the support line 1.2893. Bears takes over the place now whereas bulls needs to find some force in order to reverse this move. The trend is still negative and not broken. At this situation selling is still good option to take. TA.EURUSD 2009-04-28.pdf [...more]
