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Trade Idea Update: GBP/USD – Sell at 1.5470

admin — Tue, 24 Aug 2010 13:01:52 +0000

As cable has recovered again after holding above intra-day support at 1.5373, retaining our view that minor consolidation would be seen and retracement to 1.5430/40 cannot be ruled out, however, reckon renewed selling interest would emerge below the Kijun-Sen (now at 1.5475) and bring another decline to 1.5350/55 (50% projection of 1.5999 to 1.5464 measuring from 1.5620)

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Trade Idea Update: USD/CHF – Sell at 1.0465

admin — Wed, 18 Aug 2010 13:07:05 +0000

Dollar’s retreat after intra-day recovery to 1.0453 needs to break support at 1.0350 to signal the fall from 1.0630 is still in progress, then test of recent low at 1.0332 would follow, break there would confirm early downtrend has resumed and extend weakness to 1.0300, then 1.0288 (1.618 times projection of 1.0630 to 1.0465 measuring from 1.0555).

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Trade Idea Update: USD/CHF – Buy at 1.0470

admin — Thu, 12 Aug 2010 11:42:01 +0000

As the single currency has continued to edge lower on cross-buying in Swiss franc, suggesting near term downside risk has increased for test of the Ichimoku cloud top (now at 1.0531) and possibly towards 1.0496-97 (previous support and current level of the Ichimoku cloud bottom), however, support at 1.0461 should attract fresh demand and bring rebound later.

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Trade Idea: AUD/USD – Sell at 0.9250

admin — Fri, 06 Aug 2010 11:01:45 +0000

As the Australian dollar has maintained a firm undertone, suggesting recent rise from 0.8066 low is still in progress and gain to 0.9185/90 (100% projection of 0.8315 to 0.8871 measuring from 0.8633 and 1.618 times projection of 0.8908-0.9044 measuring from 0.8965) and then 0.9220 is likely, however, loss of near term upward momentum should limit upside to 0.9250/60 and reckon 0.9300/10 would hold, bring retreat later.

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Trade Idea Wrap-up: EUR/USD – Hold long entered 1.3020

admin — Sat, 31 Jul 2010 10:22:29 +0000

Failure to extend intra-day rebound from 1.2980 suggests further consolidation would be seen and indicated minor support at 1.2977-80 must hold for prospect of another bounce to 1.3055/60, then towards yesterday’s high at 1.3107, however, break there is needed to signal recent upmove has resumed and extend towards 1.3145/50 but reckon 1.3170/75 (1.618 times projection of 1.2732 to 1.2966 measuring from 1.2794 as well as 50% projection of 1.2151 to 1.3029 measuring from 1.2732) would limit upside.

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Trade Idea Wrap-up: USD/CHF – Buy at 1.0480

admin — Sun, 25 Jul 2010 09:46:43 +0000

Dollar’s intra-day rally and the breach of indicated resistance at 1.0561 suggest low has been formed at 1.0394 and consolidation with upside bias is seen for retracement of recent decline towards 1.0618, however, above there is needed to retain bullishness and signal a stronger correction is under way to 1.0646 but reckon 1.0676-78 (previous resistance and 38.2% Fibonacci retracement of 1.1138 to 1.0394) would limit upside.

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Trade Idea: EUR/JPY – Buy at 111.00

admin — Mon, 19 Jul 2010 09:00:24 +0000

Although the single currency has rebounded after finding support at 111.43, a break of last week’s high of 113.40 is needed to signal upmove from 107.30 low (wave v bottom) has resumed and bring a stronger retracement of recent decline to 113.90/00 and then next resistance at 114.16.

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Trade Idea Update: USD/CHF – Hold long entered at 1.0627

admin — Tue, 13 Jul 2010 10:17:51 +0000

Failure to extend intra-day rebound and current retreat suggest caution on our long position and minor support at 1.0582 must hold to retain bullishness for another rise to 1.0676, break there would signal the rise from 1.0481 low has resumed for a stronger retracement of recent decline to 1.0692-97 (50% Fibonacci retracement of 1.0903 to 1.0481 and previous resistance) but reckon 1.0742-52 (61.8% Fibonacci retracement of 1.0903 to 1.0481 and previous resistance) would hold from here.

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Trade Idea: USD/CHF – Buy at market level

admin — Tue, 13 Jul 2010 05:51:29 +0000

Although the intra-day brief drop to 1.0582 stopped out our long position, as the greenback found decent demand at 1.0582 and has rebounded, suggesting as long as this level holds, consolidation with upside bias remains for another test of 1.0676 (yesterday’s high), above there would signal the rise from 1.0481 low has resumed for a stronger retracement of recent decline to 1.0692-97 (50% Fibonacci retracement of 1.0903 to 1.0481 and previous resistance)

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Trade Idea Wrap-up: USD/CHF – Hold long entered at 1.0615

admin — Mon, 12 Jul 2010 18:03:50 +0000

Dollar’s retreat after intra-day rally to 1.0676 suggests caution on our long and 1.0594 (previous resistance turned support) must hold to retain bullishness for another rise, above said resistance would bring stronger retracement of recent decline to 1.0692-97 (50% Fibonacci retracement of 1.0903 to 1.0481 and previous resistance) but reckon 1.0742-52 (61.8% Fibonacci retracement of 1.0903 to 1.0481 and previous resistance) would hold from here.

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