Trading plans for the entire week are listed here with most recent one on top.
4464
Today in the main session the CAD strengthened. Pairs like the CAD/JPY moved up on some JPY weakness as well. This pair moved up in choppy fashion but is has a fresh cycle starting on the H4 time frame. We would get the stop to break even and try to hold, looking for more movement on the H4 time frame. Other CAD pairs also have fresh H4 time frames but the CAD/JPY had a good entry signal.
4463
We noticed some choppiness on a good number of pairs so we would be more careful with trading tomorrow until it clears up. NZD/USD – set resistance alarm at 0.7995, above there this pair could move up to the 0.8100 area, which is the estimated next resistance area. Overall trend is still down so treat this as a short term buy. EUR/CAD – set resistance alarm at 1.4475, next resistance area is around 1.4650. CAD/CHF - set resistance alarm at 0.8400, we are looking for the H4 time frame to reverse back up with good upside potential, possibly after the CAD news drivers. News drivers for the upcoming main session from the CAD and USD can be found on the news calendars.
4462
Today in the main session most or the currency groups were mixed. The GBP did strengthen ahead of the main session, pairs like the GBP/NZD and GBP/AUD did move up strong at that time but these pairs are now retracing back down. Later in the main session we did not see any significant movements.
4461
EUR/AUD – strong uptrend is forming, set buy alarm at 1.4630 (estimate), overall potential is excellent on the W1 time frame. EUR/CAD – D1 uptrend in place, set buy alarm at 1.4470 (estimate), next resistance area is around 1.4650 or slightly higher. AUD/CHF – W1 downtrend in place, set sell alarm at 0.8240 (estimate) overall potential is very good below the alarm price. 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 CAD and USD can be found on the news calendars.
4460
Today in the main session the USD dropped. There was some minor NZD and EUR strength. This pushed the EUR/USD and he NZD/USD higher, we believe these pairs could continue higher for a day or two. Both of these pairs have no trend support on the higher time frames so we would scale out lots on both. One news driver is pending from the EUR in about 2 hours, check the news calendars.
4459
AUD/JPY- strong down trend in place. Set a price alarm at 92.90. Next support level is between 91.50 and 92.00. NZD/JPY- strong down trend in place. Set a price alarm at 83.60. Next support is 82.25 (estimate). CHF/JPY- strong down trend in place. Set a price alarm at 111.85. This pair has potential down to the 109.00 area or possibly lower. GBP/USD- strong down trend in place. Set a price alarm at 1.5875. No nearby support below there. GBP/AUD- Look for a buy signal in the main trading session. The H4 timeframe could cycle back up to 1.8500 or higher. AUD/CAD- set a resistance alarm at 0.9865. No nearby resistance past there.News drivers for the upcoming main session from the EUR, GBP and USD can be found on the news calendars.
4458
Today in the main session the GBP was weak on all pairs, there was also some JPY and USD strength.The GBP/USD moved down, this pair broke one support level and should continue trending down on the W1 time frame. We will continue planning more sells on the GBP/USD. The GBP/JPY also dropped but is hitting one support level so scaling out lots would be best on this pair. |