Waiting for a USD/JPY move.

by March 8, 2010

The sideways consolidation continues on the intraday USD/JPY across the 15 and 30 minute charts. Prices remain range-bound amidst a flat Dow and a U.S. Dollar that remains in a daily uptrend but it congesting intraday. Since neither the U.S. Dollar nor the equities market are taking leadership of market psychology, the USD/JPY remains a pair that is waiting for an opinion. The breakout of the triangle pattern on the 15 minute chart will be a low risk entry that should not much follow through to see either the 90.67 high or the 90.14 low. This

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Downside Projections for EUR/USD

by March 5, 2010

After the swing correction short on the EUR/USD, the exhaustion at the 34ema low triggered a follow-through to the downside.  Next step, find the support levels buyers could be watching. There are a few approaches here.  First focus on the most basic of level:  Psychological Levels. As prices are currently trading near 1.3620.  Look to the 1.3600, 1.3580, and 1.3550 levels for near term support.  Pay particular attention to the “50″ and “00″ levels. Prices could also begin to cluster within these levels as prices

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EUR/USD Swing Short Set Up

by February 1, 2010

The 240 minute EUR/USD has been heading lower as prices have been in a mark down cycle for a solid two weeks.  It’s the corrections in this downtrend that the focus should be on, not necessarily reversals, especially in such a strong downtrend.  The correction levels are aggressive at the 1.3900 level and conservative at the 34ema low which is currently at 1.3976.

Entry   1.3976 short

S/L         1.4010

Target  1.3920

For educational purposes only.

GBP/JPY’s 147.00 Level

by January 5, 2010

The 30 minute GBP/JPY is setting up a possible swing entry short as prices correct up to the downtrend resistance between 146.90 and 147.05.   The short term bounce heading into the Asian session sets up a nice trend following trigger within the context of a very strong intraday trend lower.

Entry   146.90 short

S/L         147.15

Target  146.50

For educational purposes only.

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Sidenotes

GBP/USD Intraday Pattern Reversal
February 4, 2010

The GBP/USD is setting up a potential reversal through the resistance of the falling wedge pattern on the 60 minute chart.  The break comes after a day that the U.S. Dollar rallied because of the widespread equities sell-off during Thursday’s session and in front of Friday’s Non-Farm Payroll.  The long entry at the downtrend line would be [...]

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USD/CAD Transition Shorts
February 2, 2010

The Initial Trend reading on all alerts must be considered in order to assess which set up to utilize in especially a trending pattern.  The 30 minute USD/CAD has formed a Continuation Falling Wedge Emerging Pattern as prices have begun to congest between the downtrend line resistance and the 1.0600 major psychological level support.  The [...]

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USD/CAD in Transition
January 11, 2010

The intraday USD/CAD has been trending lower but as Asia opens for the week, the 1.0300 has been tested and broken to the upside showing that buyers are stepping up.  The 60 minute chart has a Continuation
Falling Wedge that has formed with a weak Initial Trend.  Because of the slowing downtrend, keep an eye on the buying support [...]

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EUR/USD Uptrend Swing
January 11, 2010

The EUR/USD has been strong on the short term intraday charts.  The 30 minute charts has been heading higher towards the 1.4450 where prices have found selling pressure since the last week of December.  Prices
are correcting setting up a swing buy at the lower line (S) of the Continuation Chanel Up pattern as the 1.4420 level offer support. Even [...]

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