Good Morning All,

I trust you all had a great weekend. Congratulations Brett and Paul……

This morning we have CHF Retail sales at 8.15 am then at 1.30pm USD Empire State Manufacturing Index. Other wise we are fairly clear of news this AM.

Looking across most pairs the Dollar Strength shown on Friday has dragged the EUR and GBP back onto the Support levels we failed to break last week. Hopefully we will see these breached this morning.

GBPUSD:

• 4 Hourly Trend Down
• Although this looks weak, early signs suggest that the support on this level 1.6440 will not be breached instead a retracement back to the averages would look more likely.
• At the 1 hourly 20 MA and resistance 1.6500 I would be looking for a short play.

GBPJPY

• 4 hourly trend Down

· Again the Yen Pairs look strong but GBPJPY is coming back to the daily channel which it has respected until this point.

· Currently floating around Dan´s Bull the MP so I will be avoiding until a short term pull back

· Once we see around 157.20 I will be happy to look for a position.

EURUSD

• 4 Hourly Trend down.
• Again at the MP so selling here could be met with a lot of support.
• waiting to see how the Support at 1.4120 holds up.
• If not will look for short play again around the Averages.

EURJPY

• 4 hourly trend down
• Channel Broken to the south.
• Silver cross on the 4 hourly fast approaching.
• Pull back is required again before selling.

Verdict.

Looks interestingly setup this morning but sadly pullbacks are the order of the morning.

For that reason we will have to target GBPCHF as CHF retail sales are at 8.15am and are expected much better than previous. Will be looking for a possible play through support at 1.7670 or at 1.7780

Happy pipping

August 17th 2009 Posted to CHF, EUR, GBP, JPY, USD, forex | Comments (0) |  Email This Post

Good morning all

I hope you are all well today and made a few pips yesterday…

I had a little fun yesterday afternoon with USDCHF and am still long part of my position and looking to add.

USDCHF

• This beast is teasing and has now broken out of its triangle on the upside.
• As we stand this morning the price is resting on the DP and 60min 20ma, however the 15min 50ma is above and we need to be aware of this
• Purely as a technical play today the safest option would be to wait for the 15min 123 and look for the Golden Cross of the 15min moving averages.
• That would give us the lowest risk to the upside with all MA´s suggesting a strong move higher.
• For me 1.0954 is still the key level to break and for any long plays we must look to bank 75% of the position (as I did yesterday afternoon) ahead of this resistance and re open the trade again on the break.

CABLE

• The 4hr chart suggests strength is coming back into GBP with weak USD.
• The silver cross is setting up so a long opportunity is coming our way.
• As it stands this morning the MP at 1.6340 is holding as key resistance and the 60min and 4hr CCI´s are suggesting uptrends.
• Let’s look for a break of the MP to 1^st resistance at 1.6380 and then further with a rolling stop.

EURUSD

• Still heavily boxed in.
• With USDCHF trying to tease higher you would imagine EURUSD would make a little push lower and finally break the Daily 50ma.
• Lets not preempt this move and wait for a break.
• Key support levels are 1.3829 and 1.39.12
• Key resistance levels are 1.4016, 1.4041 & 1.4071
• If we see USDCHF make another move higher look lets look for a break below the WP for our 1^st entry.

GBPCHF

• Keep an eye on this…Look for a pullback to the MP and if holds and the 4hr trigger comes into play, look for a bounce off the 1.7675 region for a long trade

July 15th 2009 Posted to CHF, EUR, GBP, JPY, Live Room Review, Reports, USD, forex | Comments (0) |  Email This Post

Good Morning all

Hope you are well things have looked just a little bit jumpy this morning.

GBPUSD

• A break of 1.6365 would signal an early move higher

• Don’t forget that with this we will see resistance at the previous highs like in the previous couple of days. • A break through the DP to the south would trigger a sell order I have at 1.6330

USDCHF

• A break up through 1.0865 would signal a move higher with a break out of the overnight triangle.

• A break through 1.0800 would signal dollar weakness and should then help cable higher.

EURUSD

• Has broken the DP

• Needs a retrace back on top of this before a possible play higher.

• A break of the triangle to the south side would trigger an order short through 1.3890

EURGBP

• Could well be difficult to trade today so will keep you updated to any possible setups later on.

June 19th 2009 Posted to CHF, EUR, GBP, USD, forex | Comments (0) |  Email This Post