14.03.2011

Euro index trading into minor resistance area suggesting a possibility for a correction.

Dollar index trading at support level (orange rectangles), suggesting a bounce back to the resistance is possible.

Gbpusd trading at 1.6172. The pair is trapped in resistance zone 1.6150 - 1.6222 with another level higher around 1.6315.

07.03.2011

Some levels I am watching today.

Eurgbp trading in supply area.

Chfjpy at important supply zone, capped under upper up channel band.

Eurjpy tested 115.70 resistance on friday. Daily candle has created bearish pin bar suggesting a correction is possible.

Usdjpy approaching intraday support level.

24.02.2011

Eurgbp trading at supply level.

Usdjpy trading at demand level.

Dollar index trading at important demand level.

20.02.2011

Some support and resistance levels to trade in the coming days.

Dollar index:

Eurusd:

Audusd:

Eurgbp:

Chfjpy:

22.12.2010

Dollar index trading at 80.45, just above support and up trend line on 1h timeframe. Oscilator in oversold zone.

Eurusd currently at 1.3140. Dipping lower after testing resistance at 1.3180. Supports stand 1.3060 and 1.3000.

Gbpaud hit 161.8 fibonacci extension.
Interesting Saxo Bank prediction says Audgbp will drop 25% in the next year. You can read more here: http://www.saxobank.com/about-us/press/Documents/outrageous-predictions-2011.pdf

This is last post before Christmas so just want to wish you all Merry Christmas. Also hope that next year will bring all of us only good days and many pips :)

21.12.2010

Dollar index currently at 80.44, with support at 80.30. Break below support would lead to drop towards 79.80, its lower intraday support. Break above yesterdays high 80.70 would lead to retest 81.30 and higher.

Eurusd currently at 1.3150, capped below resistance 1.3190. Break above would lead to test h4 down trend line as well as resistance area 1.3270 - 1.3290. Important support levels are 1.3060 and 1.3000.

Interesting situation on GbpAud. Pair has reached its 138.2% fibonacci extension target level, heading towards 161.8%. A rally after reaching targets is possible scenario.

Audusd creating possible Head & shoulders to move lower.

16.12.2010

Gbpusd currently at 1.5610, after bounce from its demand level at 1.5530, heading towards resistance area 1.5720 - 1.5760.

Dollar index after break of 79.90 went straight to its resistance at 80.28. Its reacting to the down side from there, heading towards 79.90, to test it as its support.

Eurusd after the bearflag break, went to 1.3206. From there it bounced back to 1.3265, testing the broken flag. The nearest support levels are at 1.3180, 1.3080 and 1.30.

Live intraday entries

2 trades i took today.

First one was eurjpy short. Pair is approaching resistance 111.0 - 112.0. Its a fresh level, price has has dropped from here previously. If we entered at 111.00 and put our stop above 112.00, we still get around 1:2 risk : reward, very possibly even 1:3.

Second one is short entry on gbpusd. I took it at m5 timeframe, price created a cluster of candles which broke to the downside. Price has pulled back to that broken level, thats where was my entry with SL above. Target demand level 1.5560 and lower.

For both positions i risk 2% all together.

update 1: closed half position on gbpusd for 26 pips, leaving rest of it at b/e with target 1.5560
update 2: 2nd half of gbpusd reached the target +65 pips
update 3: closed half eurjpy +55 pips, leaving rest of it at b/e with target 109.00
update 4:  2nd part of eurjpy stopped out at b/e

Pound..

After break of the uptrendline, price has dropped straight to its first support at 1.5680. Next support (demand) levels are 1.5570 and 1.5450 as you can see below:. Best long entries will appear when dollar index reaches its resistance level coming at 81.00.