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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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GBP/USD – Approaching Sell Zone

admin — Sun, 22 Aug 2010 07:22:15 +0000

Today’s daily chart exemplifies the recent volatility of the sterling. When bearish, the sterling has had between 6-10% selloffs. The recent uptrend from the end of May till mid August has stalled. Currently price action is testing the 23.6% retracement level and our 200 day simple moving average. If we View full post on Technical Analysis

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: 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 Update: GBP/USD – Sell at 1.5160

admin — Sat, 10 Jul 2010 06:06:53 +0000

Despite intra-day bounce to 1.5205, current selloff signals temporary top has been formed at 1.5241 earlier and consolidation with downside bias is seen, break of 1.5081/82 support would confirm this view and bring correction to 1.5057 (50% Fibonacci retracement of 1.4873 to 1.5241), then 1.5014 (61.8% Fibonacci retracement) but reckon 1.4950/60 would hold from here.

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Trade Idea: EUR/GBP – Buy at 0.8200 or sell at 0.8440

admin — Fri, 09 Jul 2010 13:47:48 +0000

As euro has eased after intra-day marginal rise to 0.8384 (yesterday’s high was 0.8380), suggesting consolidation would be seen and retracement to 0.8300 and 0.8226 (50% Fibonacci retracement of 0.8067 to 0.8384), however, as low has been formed at 0.8067 as wave v, reckon 0.8188 (61.8% Fibonacci retracement) should hold and bring another rise later.

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Trade Idea: AUD/USD – Sell at 0.8850

admin — Fri, 09 Jul 2010 08:31:46 +0000

Although aussie has maintained a firm undertone and marginal gain towards previous resistance at 0.8860 cannot be ruled out, however, as broad outlook is still consolidative, reckon upside would be limited to 0.8884 (61.8% Fibonacci retracement of wave A from 0.9389) and bring retreat later.

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Trade Idea Wrap-up: USD/CHF – Sell at 1.0615

admin — Thu, 08 Jul 2010 16:03:01 +0000

Despite intra-day retreat from 1.0564, as long as support at 1.0481 holds, further consolidation would be seen and another corrective rise to said resistance cannot be ruled out, above there would bring retracement of recent decline to the Ichimoku cloud area (now at 1.0608-18) but reckon renewed selling interest would emerge there and bring another selloff later.

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Trade Idea Update: USD/CHF – Sell at 1.0610

admin — Thu, 08 Jul 2010 10:42:33 +0000

Dollar’s rebound after intra-day fall to 1.0481 suggests a temporary low has been formed there and consolidation with mild upside bias remains, break of minor resistance at 1.0564 would add credence to this view and bring retracement to the Ichimoku cloud area (now at 1.0614-18) but reckon renewed selling interest would emerge there and bring another selloff.

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Trade Idea Wrap-up: USD/JPY – Sell at 87.60

admin — Thu, 08 Jul 2010 05:11:08 +0000

Despite recovering after intra-day fall to 87.02, early breach of indicated support at 87.33 signals correction from 86.96 has ended at 88.22 and bearishness remains for a retest of this level, however, break there is needed to confirm decline has resumed and extend weakness towards 86.45/50 (61.8% projection of 89.78-86.96 measuring from 88.22) but loss of downward momentum should limit downside to 85.95/00 (50% projection of 91.48 to 86.96 measuring from 88.22).

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