AUD/USD

The pair is strongly bullish with commodities gaining across the board is fueling the pair to target for another high for the year.
Oil above USD70 Gold above USD1010


My Trade

Entry: Long 0.8760
T/P 0.8820
T/L 0.8740

GreenBack and Recovery.

1: GreenBack Weakness.

USD weaker despite data out of US showing Positive signs of Economic Recovery (Slowing the pace of Negative Growth). Even though the US Treasury is working on Supporting a Stronger Dollar the weakness in GreenBack persists. Technically it is still holding a Floor with significant pressure.

Faith of Green Back lies in the question.

Will USA be the leader in Global Recovery?

I personally think, “YES", United States Economy will provide and lead the world towards a Stronger Growth. It is just that United States is going through a lot of Changes and is in the process of accepting the changes made and the ones being made. Realizing our global position and Greenback’s effect in the global market Dollar’s demand has a "Prolonged Projection". The times might change where weakness in the currency brings Strength in the Domestic Economy. Inside out Rule....which will bring greater opportunity of Investment and Development.

Answer leading to a second Question:

What Kind?

We don't want a Recovery that is based on sharp lifts in “Economic Data” showing Recovery and or “Gains”. Sharp jumps tend to increase risk of Sharp Dips leading to “A Unstable and A Weaker Growth”. The Strong and Stable Growth should always lead to “Equity” which is the key to establishing a stronger base. Compassion and Justice must be the leading Elements.

GreenBack might be moving in the opposite direction that of Recovery.


2: Rally in Equity Markets.
Equity Markets.. Mostly we have seen a stable 45 Degree Leaner Rise since we hit the bottom.

Market Recovery might be W Shaped. Double confirmation of the bottom. Double V: VV

3: Gold Strength.
While Dollar was Showing weakness GOLD prices were stable (Fluctuation in between a Range 930-960). Its Catching up with Dollar weakness. Which might lead to further Greenback Weakness?


I don’t see major Selling till 1010 - 1050 but if it dips below 976.25 (Support Level) we might see "Bearish Resistance"..

EUR/USD H1 Chart Bearish in a Bull trend.

See Chart

EUR/USD H4 Chart

If trading on H1 chart one should follow H4 chart.

EUR/USD Aug 1609

EUR/USD Testing a strong Support Level.

See Chart H4

EUR/USD Another Tail!!!! See Chart

EUR/USD after creating a Bear Trap and confirming a strong Long Term Support around 1.4125 level moves up. Bear trap with a price level staying above the 100 and 200 Bar Moving average on 5 min chart...the market might looks Bullish. (Strong) 1.4247 is the next resistance level.

See Chart

USD/JPY

Daily Chart

EUR/USD Preparing to take the High of the Year 09(Todate).

A Strong Bullish trend line.

See Chart.

MetaTrader4: ADD FEBONACCI LEVEL 78.6

MetaTrader4

Here are the custom Fib levels I typically watch:

Any "retracement" beyond 100% is a reversal.

Sometimes using Fibs in combination with other indicators and also a larger time frame you can catch the reversal earlier.

Level 0 0.146 0.236 0.382 0.5 0.618 0.786 0.86 0.942 1 -0.18 -0.27 -0.382 -0.618 -1 -1.618 -3.236

Description 0.0 - %$ 14.6 - %$ 23.6 - %$ 38.2 - %$ 50.0 - %$ 61.8 - %$ 78.6 - %$ 86.0 - %$ 94.2 - %$ 100.0 - %$ 118.0 - %$ 127.0 - %$ 138.2 - %$ 161.8 - %$ 200.0 - %$ 261.8 - %$ 423.6 - %$