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

Good morning all,

I hope you all have had a great weekend.

Non Farm Payroll came out a lot better than expected on Friday causing some fantastic moves on Friday afternoon EUR and Cable both pushed to new session lows. I was expecting to see clear retracements in both through the Asian session this morning but we have seen GBP continue to struggle with the ongoing political problems causing traders to be cautious.

GBPUSD

• We have our Daily 20 MA 80 points below us at 1.5840 so still room to the south.
• 15 minute averages are all in the correct order but entries will be difficult without significant pullbacks to the 60 minute 20 ma. Other wise our stop loss will have to be too great for the potential reward.

EURUSD

• EUR has pulled back nicely over night in towards our 60 minute 20  and looks to be stronger than GBP
• A small 15 minute channel has formed and a break of this would signal an entry for us.
• To the upside a break of 1.4000 and to the downside a break of 1.3970
• If the trade is against the trend remember to be playing at half stakes.

USDCHF

• Has retraced off its Daily 20 ma but still has further room to the downside towards the hourly 20 ma
• From around this level I will be looking for a long position.

June 08th 2009 Posted to Uncategorized | Comments (0) |  Email This Post