All trading plans for the week are listed on this page, with the most recent one on top.
4446
Today after NFP the USD strengthened across the board, and all pairs in the group moved on this basis. The market gapped after the news so if you were able to enter trades based on USD strength just after NFP pips were possible. Some pairs are inside of support or resistance and other pairs are breaking out. The NZD/USD dropped but is still inside of support, so exiting would be best, the USD/JPY is inside of resistance and exiting this pair would also be best. The GBP/USD and EUR/USD broke one support level and we would consider holding some lots as the trends should continue lower.
4445
Please consider these trends and potential trades tomorrow after the NFP news. Many pairs look like they could reverse from their recent moves. AUD/JPY – look for a buy signal after NFP, this pair could cycle back up to the 97.75-98.50 area. NZD/JPY – look for a buy signal after NFP, this pair could cycle back up to the 88.50 area. AUD/USD – look for a buy signal after NFP, this pair could cycle back up, the short term potential is very good but the target is unknown. EUR/AUD – look for a sell signal on this pair after NFP, the D1 trend could cross to the downside with lots of potential. EUR/GBP – look for a buy signal on this pair after NFP, it has trade potential up to the 0.8000 area (approximate). GBP/AUD – look for a sell signal on this pair after NFP, the D1 trend could form going down with excellent potential. AUD/CAD – look for a buy signal on this pair after NFP, it has excellent upside potential. AUD/CHF – look for a buy signal on this pair after NFP, the D1 trend could cross to the upside with excellent upside potential. News drivers for the upcoming main session from the GBP, CAD and USD can be found on the news calendars.
4444
Today in the main session the JPY was strong on all pairs. The CAD and GBP weakness also in the market drove the CAD/JPY and GBP/JPY down. The CAD/JPY dropped hard but is hitting one support level, we would scale out lots or possibly exit completely. The GBP/JPY is entering a zone of support and we would be scaling out lots or exiting completely on this pair as well. In the next couple of days both pairs could reverse back up as their general trends are up.
4443
EUR/JPY – set sell alarm at 137.40, next support area is around 136.00. CHF/JPY – set sell alarm at 113.80, next support area is around 112.70. GBP/JPY – set sell alarm at 176.15, next support area is around 174.50. EUR/USD – strong downtrend in place, set sell alarm at 1.2575, next support area starts around 1.2300. EUR/AUD – look for a sell signal on this pair in the main session or after the EUR news, the D1 trend could cross to the downside and cycle down, potential is very good. EUR/CAD – set sell alarm at 1.4040, below there the largest trends will resume and this pair has substantial potential. CAD/CHF – Set a resistance alarm at 0.8595, above there the largest trends will take over and this pair has excellent upside. GBPAUD - look for a sell signal on this pair in the main session, the D1 trend could cross to the downside and cycle down, potential is very good. AUD/CHF – look for a buy signal on this pair in the main session, the D1 trend is close to crossing to the upside and the pip potential is very good. Wednesday after 0200 GMT check our twitter feed and blog after the plans are issued for charts that illustrate current market trends and levels. News drivers for the upcoming main session from the GBP, EUR and USD can be found on the news calendars.
4442
Today in the main session we did not see any new trade entries. There were some small choppy movements on the AUD pairs inside of support or resistance layers based on some AUD strength. These movements on the smaller time frames and inside of ranges. We did not see any breakouts or strong moves on trending pairs today. News drivers for the upcoming Asian session from the NZD and AUD can be found on the news calendars.
4441
EUR/JPY – Set a support alarm at 138.05. The next support level is at 136.25. USD/JPY – Strong uptrend in place. Set a buy alarm at 109.85, no nearby resistance past there. EUR/USD – Strong downtrend in place, set sell alarm at 1.2575. Next support level starts at 1.2275. Other pairs: EUR/GBP – This pair has critical support at 0.7760. Set a sell alarm here for a breakout. USD/CAD - This pair has critical resistance at 1.1270. Set a buy alarm here and look for a breakout in the next couple of days. AUD/USD - This pair has critical support at 0.8680. Set a sell alarm here and look for a sell signal in the next couple of days. News drivers for the upcoming main session from the GBP and USD can be found on the news calendars.
4440
Today in the main session the USD was mostly strong and the EUR and CHF were mostly weak. The EUR/USD moved down and the USD/CHF moved up in the early part of the main session but both pairs have retraced. Since these pairs moved in the directions of their major trends we believe they were valid trades but the retracements were pretty strong. Exiting these trade or scaling out lots is probably best due to the current condition of smaller time frames. News drivers for the upcoming Asian session from the AUD can be found on the news calendars. |