Pair opens 45 pips above its closing price.
Lets see if we can hold these gains and move above 1.35 level.
Support: 1.3461 / 1.3434/47 then 1.3380
Resistance: 1.3503
Pair is trading above 1.3460 atm.
Sunday, March 28, 2010
Week Mar 28 - Apr 2
Gold: Again found support below 1100 / ounce.
1074 remains a key support level and below 1045.
Dips in gold price is attractive for investors (buy side).
Main resistance remains around 1140.90 level.
See daily chart:
EUR/USD: After a free fall pair have rebounded back but is in pull back not change of trend.
Support: 1.3388 and below that 1.3306 and then the low of last week 1.3267. First Resistance zone: 1.3430 - 1.3464 area. Trend is your friend and fundamentals for EURO are not in a strong support of EURO strength. I will be looking for shorts near major resistance levels and or breaking of support levels.
See H4 Chart:
GBP/USD:
Lately I have been following this pair a lot...hope to start trading this pair full time. Adding it to my primary trading pair.
Last week Pound fell to test 1.4781 area key support going down. However, the pair is still under a lot of pressure (Bearish). Going up 1.5011 will be a key resistance level.
See chart H1:
====================================
Last Close: Mar 26, 2010
Total Trades 145
Negative: 35
Positive: 110
Win to loss ratio 75.86 %
Equity Curve +12.01 %
===================================
1074 remains a key support level and below 1045.
Dips in gold price is attractive for investors (buy side).
Main resistance remains around 1140.90 level.
See daily chart:
EUR/USD: After a free fall pair have rebounded back but is in pull back not change of trend.
Support: 1.3388 and below that 1.3306 and then the low of last week 1.3267. First Resistance zone: 1.3430 - 1.3464 area. Trend is your friend and fundamentals for EURO are not in a strong support of EURO strength. I will be looking for shorts near major resistance levels and or breaking of support levels.
See H4 Chart:
GBP/USD:
Lately I have been following this pair a lot...hope to start trading this pair full time. Adding it to my primary trading pair.
Last week Pound fell to test 1.4781 area key support going down. However, the pair is still under a lot of pressure (Bearish). Going up 1.5011 will be a key resistance level.
See chart H1:
====================================
Last Close: Mar 26, 2010
Total Trades 145
Negative: 35
Positive: 110
Win to loss ratio 75.86 %
Equity Curve +12.01 %
===================================
Sunday, March 21, 2010
Week Mar 21- 26
Pretty busy week for USD, GBP and EUR.
Economic Calender at : http://www.forexfactory.com
EUR/USD: Pair moved sharply towards the major support levels 1.3500/ 1.3457/ 1.3434
On the down side Ill be watching a break of 1.3500 with targets set depending upon market sentiment.
GBP/USD: Big move above 1.53 level and a big move down. Now the pair is testing a strong support level after falling below 1.51.
Support at 1.4979. If the pair breaks this level and retests ill be short on the pair.
1.5062 resistance I am watching.
Dollar index: 79.51 double bottom/ support and 81.11 first resistance if the index can hold above 80.57.
Above 81.11 is 81.34 double tops and then 82.30 will be the next target.
My focus: 1: No mid candle entry.
2: Act on my edge's without reservations.
3.: Have fun.
Economic Calender at : http://www.forexfactory.com
EUR/USD: Pair moved sharply towards the major support levels 1.3500/ 1.3457/ 1.3434
On the down side Ill be watching a break of 1.3500 with targets set depending upon market sentiment.
GBP/USD: Big move above 1.53 level and a big move down. Now the pair is testing a strong support level after falling below 1.51.
Support at 1.4979. If the pair breaks this level and retests ill be short on the pair.
1.5062 resistance I am watching.
Dollar index: 79.51 double bottom/ support and 81.11 first resistance if the index can hold above 80.57.
Above 81.11 is 81.34 double tops and then 82.30 will be the next target.
My focus: 1: No mid candle entry.
2: Act on my edge's without reservations.
3.: Have fun.
Friday, March 19, 2010
Week End
EUR/USD moved back sharply beyond expectations.
Mainly after US President signed a new bill in law which should boost employment and provide tax incentives to employers if they hire this year. A good step to put Americans back to work.
GBP/USD had a good push above 1.5300 after UK employment picture showed sings of growth but wasn't able to hold due to previously mentioned reason (New Bill).
Eyes on Dollar Strength:
Dollar Index rebounded around a strong support level 79.55/ 51 and is near the top of its consolidation range.
Gold dipped sharply in the last trading day. Resistance around 1130.
If you see the daily chart...I see a head and shoulder formed and this time gold might dip lower to test the 1074 area. We will see how things shape up next week.
See Daily Chart:
::::::::::::::::::::::::::::::::::::::::::::::::::::::
My Trading: A pretty week start for me however, at the end of the week I was able to have some good trades that helped my come back into the positive territory.
Total Trades: 45 (12 negative and 33 Positive)
73 % Win to loss ratio with 122 PIPS.
Equity 3.3 percent from the last weeks close.
LESSONS REVISED:
Candle close and open entry: As my mentor have mentioned several times, " Breaking your rules is like cheating yourself". Very true...Keeping yourself Integrity plays a big role in one's consistent success.
So this week I have violated some of my basic rules of trading.
1: Over trading (Specially after couple of losses)
2: Mid Candle entry.
However, I was able to realize my mistakes and stopped trading (for one day) during the week to reevaluate and found out exactly what has happening and then came back with a fresh mind set and did what I am good at..follow my method/ set of rules and trade.
:::::::::::::::::::::::::::::::::::::::::::::::::::
Mainly after US President signed a new bill in law which should boost employment and provide tax incentives to employers if they hire this year. A good step to put Americans back to work.
GBP/USD had a good push above 1.5300 after UK employment picture showed sings of growth but wasn't able to hold due to previously mentioned reason (New Bill).
Eyes on Dollar Strength:
Dollar Index rebounded around a strong support level 79.55/ 51 and is near the top of its consolidation range.
Gold dipped sharply in the last trading day. Resistance around 1130.
If you see the daily chart...I see a head and shoulder formed and this time gold might dip lower to test the 1074 area. We will see how things shape up next week.
See Daily Chart:
::::::::::::::::::::::::::::::::::::::::::::::::::::::
My Trading: A pretty week start for me however, at the end of the week I was able to have some good trades that helped my come back into the positive territory.
Total Trades: 45 (12 negative and 33 Positive)
73 % Win to loss ratio with 122 PIPS.
Equity 3.3 percent from the last weeks close.
LESSONS REVISED:
Candle close and open entry: As my mentor have mentioned several times, " Breaking your rules is like cheating yourself". Very true...Keeping yourself Integrity plays a big role in one's consistent success.
So this week I have violated some of my basic rules of trading.
1: Over trading (Specially after couple of losses)
2: Mid Candle entry.
However, I was able to realize my mistakes and stopped trading (for one day) during the week to reevaluate and found out exactly what has happening and then came back with a fresh mind set and did what I am good at..follow my method/ set of rules and trade.
:::::::::::::::::::::::::::::::::::::::::::::::::::
Wednesday, March 17, 2010
EUR/USD Moves above the weeks opening price
EUR/USD: Pair broke a strong ressitence level at 1.3777 and is trading above 1.3800
Next target should be 1.3845 and then a fib target.
See H4 chart:
Next target should be 1.3845 and then a fib target.
See H4 chart:
Sunday, March 14, 2010
Week Open Mar 14 - 19
Gold:
Breaking a trend line and the price level below 21 EMA and 100 SMA. Key resistance moving upwards 1110.37
See Daily Chart:
EUR/USD
Broke key levels and now finding resistance at 1.3777.
We might see bullishness in the pair see weekly chart. The decision candle was a bullish one.
Pair should find support at 1.3726 and or 1.3691.
Very busy week for Dollar so I will be watching S&P, Oil, Dj and Dollar index before taking any positions.
1.3777 break and retest is a go for a long for me . See weekly chart as 1.3887 is the next target.
However, pair might see some retracment.
See Weekly chart:
Weekly Goals:
1: Stay Consistent and minimize risk.
2: Focus on momentum and price action as well as other references before taking positions (Short term)
Breaking a trend line and the price level below 21 EMA and 100 SMA. Key resistance moving upwards 1110.37
See Daily Chart:
EUR/USD
Broke key levels and now finding resistance at 1.3777.
We might see bullishness in the pair see weekly chart. The decision candle was a bullish one.
Pair should find support at 1.3726 and or 1.3691.
Very busy week for Dollar so I will be watching S&P, Oil, Dj and Dollar index before taking any positions.
1.3777 break and retest is a go for a long for me . See weekly chart as 1.3887 is the next target.
However, pair might see some retracment.
See Weekly chart:
Weekly Goals:
1: Stay Consistent and minimize risk.
2: Focus on momentum and price action as well as other references before taking positions (Short term)
Friday, March 12, 2010
Week End
86% Win to Loss Ratio this week : Gains 8.23% higher than last weeks close.
Total Trades: 37 Wins: 32 Losses: 5
Total Trades: 37 Wins: 32 Losses: 5
EUR/USD Testing
EUR/USD is testing a strong resistance levels : Which includes 200SMA, trend line from last years high and a short term target level 1.3735. If we break and retest we might move above 1.3800 next week.
If you evaluate the weekly chart: The candles in decision leading to a bullish decision (of this week) can push the pair up toward major psychological level 1.4000
See H4 chart:
Note: Levels I am watching are marked with yellow horizontal lines.
If you evaluate the weekly chart: The candles in decision leading to a bullish decision (of this week) can push the pair up toward major psychological level 1.4000
See H4 chart:
Note: Levels I am watching are marked with yellow horizontal lines.
Wednesday, March 10, 2010
EUR/USD Mar 10 Close to NY close.
Dollar index and EUR/USD keeps consolidating in a range.
If you see the H4 and daily charts of Dollar index and EUR/USD
Both are in a consolidation phase:
EUR/USD 1.3663/93 tops and 1.3548/51 bottoms. Candle close is the key for entry.
See UER/USD H1 chart.
If you see the H4 and daily charts of Dollar index and EUR/USD
Both are in a consolidation phase:
EUR/USD 1.3663/93 tops and 1.3548/51 bottoms. Candle close is the key for entry.
See UER/USD H1 chart.
Monday, March 8, 2010
Sunday, March 7, 2010
EUR/USD Next target
EUR/USD bounced of the 1.3624 support level. on H4 chart we have a clear ABC and now shooting for D .
See chart:
Entry 1.3653 t/p target one hit 1.3682.
Waiting for re entry around 1.3665 and or above 1.3693.
My target for EU is we can hold and retest 1.3735 will be 1.3919.
See chart:
Entry 1.3653 t/p target one hit 1.3682.
Waiting for re entry around 1.3665 and or above 1.3693.
My target for EU is we can hold and retest 1.3735 will be 1.3919.
Weekly OverView Mar07-Mar12
Last week we saw some bearishness in the dollar index: that might be due to some profit taking.
However, this weeks opening price is higher than last weeks close on some of the majors.
AUD/USD: Opens above a key support resistance level .9071 and above 100 day moving average. I am looking for a retest of Support level 0.9071/ 0.9041 and or 0.9021
If we can hold above these levels the pair might move towards a next strong resistance level at 0.9167
See H1 Chart:
EUD/USD
Opens the week stronger and above a lot of strong key support levels. A retest will assure the bullishness in the pair.
1.3594 is a key level that I will be watching as a strong support. On the upside strong resistance is around 1.3668 and then 1.3772 : 200 SMA and the trend line comes around that level as well on H4 chart.
See chart H1:
Gold: I see a lot of resistance and pressure near 1140 level. However, that pressure might ease after the end of first quarter.
For key levels see previous blog history.
Dollar index is moving sideways in between 81.11 and 80.07.
S&P and DJ I am waiting for a pull back before moving higher (Bullish trend): 1122 on S&P 500 is a key support and 10436 on DJ.
However, this weeks opening price is higher than last weeks close on some of the majors.
AUD/USD: Opens above a key support resistance level .9071 and above 100 day moving average. I am looking for a retest of Support level 0.9071/ 0.9041 and or 0.9021
If we can hold above these levels the pair might move towards a next strong resistance level at 0.9167
See H1 Chart:
EUD/USD
Opens the week stronger and above a lot of strong key support levels. A retest will assure the bullishness in the pair.
1.3594 is a key level that I will be watching as a strong support. On the upside strong resistance is around 1.3668 and then 1.3772 : 200 SMA and the trend line comes around that level as well on H4 chart.
See chart H1:
Gold: I see a lot of resistance and pressure near 1140 level. However, that pressure might ease after the end of first quarter.
For key levels see previous blog history.
Dollar index is moving sideways in between 81.11 and 80.07.
S&P and DJ I am waiting for a pull back before moving higher (Bullish trend): 1122 on S&P 500 is a key support and 10436 on DJ.
Friday, March 5, 2010
Week End Analysis
USA:
NFP have been stable no a change in Unemployment. Economists are looking for a better number for this month as Census jobs will be an addition.
EUR:
GREECE: Successfully pulls off a five-billion euro bond issue that was massively over-subscribed, indicating the investors loved the 6.5% yield: The Star: The bond was three times oversubscribed – meaning demand exceeded available bonds....a positive sign...
Lets see what will be a next issue in Europe that can drag and or support Euro. :)
USD/JPY has shown a strong change in trend on H1 and H4 chart breaking some key levels like 88.88 and 89.50....at the moment holding above 90.20.
Gold holding strongly above 1130.85 level (See chart on the blog for ref.)
S&P 500 above a key level 1123.15 (Tech) and CME number 1122..if we can hold this strongly bullish.
My performance have been documented as 4.83% higher than last weeks close.
Have a great weekend.
NFP have been stable no a change in Unemployment. Economists are looking for a better number for this month as Census jobs will be an addition.
EUR:
GREECE: Successfully pulls off a five-billion euro bond issue that was massively over-subscribed, indicating the investors loved the 6.5% yield: The Star: The bond was three times oversubscribed – meaning demand exceeded available bonds....a positive sign...
Lets see what will be a next issue in Europe that can drag and or support Euro. :)
USD/JPY has shown a strong change in trend on H1 and H4 chart breaking some key levels like 88.88 and 89.50....at the moment holding above 90.20.
Gold holding strongly above 1130.85 level (See chart on the blog for ref.)
S&P 500 above a key level 1123.15 (Tech) and CME number 1122..if we can hold this strongly bullish.
My performance have been documented as 4.83% higher than last weeks close.
Have a great weekend.
Thursday, March 4, 2010
EUR/USD Before US non F Pay roll and Unemployment figure
USA non farm paytroll and unemployment figure is coming out later today. All eyes on that figuer.
Gold is still holding above 1130.85
EUR/USD See technical Picture:
All moving averages are in the consolidation channel with the previous trend being Bearish.
I am watching some key technical levels on Dollar index (80.36) which is holding above 50, 100 and 200 SMA.
S&P 500 (1115.10) and DJ (10376) indexes and futures are consolidating/ maintaining their gains.
Recommendation:
Sit back and fish for the opportunity to come to you rather jumping in the pond.
Identify the risk part (Very important).
Gold is still holding above 1130.85
EUR/USD See technical Picture:
All moving averages are in the consolidation channel with the previous trend being Bearish.
I am watching some key technical levels on Dollar index (80.36) which is holding above 50, 100 and 200 SMA.
S&P 500 (1115.10) and DJ (10376) indexes and futures are consolidating/ maintaining their gains.
Recommendation:
Sit back and fish for the opportunity to come to you rather jumping in the pond.
Identify the risk part (Very important).
Wednesday, March 3, 2010
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