Wednesday, November 28, 2012

$USDJPY Update

The pair is currently forming correction pattern. Dollar weakened  to 81.85 earlier today but quickly rebound above 82.00. I expect price movements between the projected trendlines targeting 81.50. US home sales data will surely be the main focus. A surprise will likely keep USDJPY in its current pattern while focus will then shift to Japan retail sales and another set of US data on Thursday.

$USDJPY 4-Hour Chart  

$USDJPY 1-Hour Chart

$USDCHF Update

The downside momentum diminished as USDCHF found support near neckline and holds above 0.93 at the moment. I expect price action ranging between 0.9300 and 0.9400 for tomorrow and breakout at the end of the week. Break above 0.9400 will bring uptrend scenario back in focus. On the other hand,  I expect USD sell-off targeting 0.9100.



Monday, November 26, 2012

$USDJPY Outlook Next Week

Link to EURJPY outlook.

$USDJPY MONTHLY CHART - Targeting 87.00 if the pair can hold above 82.40 at the end of the month. 

$USDJPY WEEKLY CHART - It seems that it has the momentum to break resistance but better to protect some profit here and double check your calendar.
$USDJPY DAILY CHART - Daily close below broken trendline may trigger correction to 81.50. Other than that, I expect to see a fight to break 83.00.

$EURJPY Outlook

$EURJPY MONTHLY CHART - Technically speaking, this pair promise a conclusion of a major downtrend.

$EURJPY WEEKLY CHART - Some possible targets for uptrend scenario.

$EURJPY DAILY CHART - Upside target for next week.

Friday, November 23, 2012

$GBPUSD Technical Analysis

$GBPUSD 4 Hour Chart - Cable failed to break 61.8% Fan Line on second attempt. Momentum suggest further weakness.

$GBPUSD Daily Chart - I expect price action moving between 61.8% and 50% Fan Line.

Thursday, November 22, 2012

$USDCHF Chart Update

$USDCHF 4 Hour Chart - Correction reached 50% retracement level. Reversal of this 2 week downtrend should test last week high (0.9511). 

Monday, November 19, 2012

$USDCHF Trading Plan

USDCHF D1 - I expect uptrend continuation for the following weeks.

USDX Daily Chart - Going to watch that June low (blue line) closely.

Friday, November 16, 2012

$EURGBP Update

$EURGBP Daily Chart - I drew another trendline as adjustment from my initial one and keep my bearish view. Price has been moving between these trendlines for the past two days and I'm hoping to see breakout today.   

Thursday, November 15, 2012

$NZDUSD Update

$NZDUSD D1 chart - Bounce from October low at the moment. Break below should target next support at 50% Fib retracement level at 0.7903 and I'm hoping to see 0.76468 after that.

Tuesday, November 13, 2012

Friday, November 09, 2012

$XAUUSD and $USDX Follow Up Analysis

Gold gained for the 4th day while dollar index consolidate. It reach the mentioned correction target at 50% fib retracement level of October downtrend (x-a) at 1733.
I think we may see a correction pattern forming in the next few weeks (or even until end of year), testing this month low. Daily momEMA(20) still below momEMA(50) and I'm hoping to see 14-day momentum back below 100 level.

$USDX Daily chart - Dollar on demand.
$XAUUSD daily chart - Strong resistance around 1737

Thursday, November 08, 2012

NZDUSD Analysis

NZDUSD 4 hour chart - Next target 61.8% Fibo Level.

NZDUSD daily chart - 0.7914 as ultimate support to maintain uptrend view.

Wednesday, November 07, 2012

EURUSD Sell Target

EURUSD daily chart - Sustained below 55-day SMA. Waiting for break below 38.2% Fibo level.

GBPJPY Analysis

GBPJPY 4 hour chart - Waiting for the break.

GBPJPY Daily Chart - Sell target at 55-Day Simple MA.

Dollar Index Update

#USDX Daily Chart - Targeting 61.8% level above 80.70 (38.2% Fib retracement)

#USDX 4 hour chart - Wait for break above 38.2% Fibonacci level

Gold Update

Gold gained back almost half of its downtrend from 1795.10 (Oct 5th high) to 1671.90 (Nov 5th low) after Obama reelected for second term. Oscillator indicates overbought but there is no sign of trend continuation yet. So I expect consolidation pattern to emerge before a breakout to test the November 5th low at 1671.90. Break from that support level would suggest a-b-c correction pattern of its larger scale trend (uptrend) targeting 1642 (61.8% retracement) and 1600.3 (78.6% retracement).

XAU/USD 4 Hour Chart - Multiple downtrend continuation scenario

USDCHF Bullish Setup

I am bullish on this pair as the chart suggests. My first target is around 0.9600/9700 with stop below last month low at 0.9213. I think it will be reached before this month ends. Look for oscillator reversal signals on lower time frame for entry positions.

USDCHF Daily Chart

Tuesday, November 06, 2012

Gold: Resistance at 1683.2

  • Testing 1683.2 resistance at the moment. Will it hold??
  • Oscillators indicate oversold.
  • MAs on Momentum cross up on hourly, indicates minor uptrend or correction on larger trend scale.
  • Next target at 61.8% and 78.6% level at 1642 and 1600.3 respectively.
  • Next resistance at 1700.4 (38.2% level of 1547.3 to 1795.1).
Gold Daily Chart

Gold 4 Hour Chart
Gold Hourly Chart