USD/CHF tried downside several times this week and failed with good bounce from 0.9540 and 0.9520. With our today's negative EUR/USD bias, obvious trade is USD/CHF long. 0.9540 can be a good entry on retest or you can scale it in from here at 0.9560. Otherwise it needs to break 0.9580 and hold it as support. Let's see how that works out.
Today we are looking at Euro with negative bias. Obvious short entries are 1.1380 and 1.1400. If current level of 1.1360 goes off convincingly then we might be tempted to short the retest too. Everything depends upon the price action and besides we shouldn't forget it's Friday. EUR/AUD is also good candidate for short today. Our yesterday's Euro range trade...
It is chicken and egg time for US dollar. Dollar gets weaker and USD/JPY falls, USD/JPY goes lower and dollar start falling. Will it end at 105? Not sure. At 100? may be. It's futile to analyze or predict where it is going to end. Even BOJ might be clueless about that ;) So for uninitiated central bank intervention traders, warning sign says - Don't try to...
Yellen has knocked the dollar down again and filled all charts with spikes. Even though moves were rapid and relentless at times, they have provided good intraday trading opportunities nonetheless. Today also we are just going to highlight the levels we are interested to trade against without any particular strong bias about the mid/long-term direction of the...
Yellen has knocked the dollar down again and filled all charts with spikes. Even though moves were rapid and relentless at times, they have provided good intraday trading opportunities nonetheless. Today also we are just going to highlight the levels we are interested to trade against without any particular strong bias about the mid/long-term direction of the...
Yellen has knocked the dollar down again and filled all charts with spikes. Even though moves were rapid and relentless at times, they have provided good intraday trading opportunities nonetheless. Today also we are just going to highlight the levels we are interested to trade against without any particular strong bias about the mid/long-term direction of the...
We warned earlier that it is not the time to get long crude at 42. We were able to capture good move from long side and got rid of all long positions on the test of 41 ( you can check that previous trade in link ). Then we took a small short at 42 and first target of 38 has been reached. And now waiting for 36 as next target, with 34.50 is final target. At...
Free money induced bounced is about to get wiped out from Gold chart in less than a week. We have mentioned many times before that inability to sustain any meaningful bounce from the events ( equity downfall & terrorist attacks ) which usually helps gold, is the clear indication where the path for least resistance is. Besides there is no real panic now to sustain...
Strong rally from 7000 base has made everyone ebulliently optimistic and rightfully so! Ok, so 7800 is in the cards right now but well the thing is it might not be in straight line. 7250 has become very solid support after 7400. If this break of 7400 - 7600 range is real then we will see plenty of opportunities to trade the range of 7300 - 7800 in coming...
This is Easter week, so unless PMI data from Euro zone / USA rattles the market, it is going to be calm range bound affair. That translates into good opportunities with less risk ! AUD/USD long at 0.7575 got filed yesterday and we just got 10 odd pips to start the week. Still it seems like Australian dollar wants to test lower limit so we have stop for the...
EUR/USD - Looking to sell if it tries to peek above 1.1350. As per current situation 1.1400 / 1.1500 would be a good sell levels in coming sessions. Besides 1.1280 and 1.1250 will be interesting for short term buy side trade.
AUD/USD - Can't short it ! So no sell side trade until 0.8000 or something changes drastically. Looking to add to the longs near 0.7600 and 0.7575. We would like to get it more if lower but looking at the things, it seems like we are not going to see levels below 0.7400 before we reach 0.7800 or more.
GBP/USD - On the topside 1.4500 / 1.4550 is too tough to crack. Already short from 1.4500 yesterday so not interested in shorting again at 1.4500 if that breaks but 1.4550 and anything near to 1.4600 would be on sell radar. Also we were already long GBP/USD and most of that we offloaded yesterday near 1.4580 to take advantage of sudden spike. For buy side...
If you have missed the Australian Dollar rally to 0.7500 the now it's little late to get onboard. Besides yesterday's Chinese Export data ( 20.6 % y/y decline ) with toppy equity market is not going to help AUD/USD either. So then what's the plan? One idea is to short AUD/USD near 0.7440 and see how far it can fall ! Australian dollar has history of getting bulls...
Currently only British Pound is little perky and moves with sizable pips, so obviously we are finding more opportunities in that. Our recent GBPUSD trade has given us more than 300 pips and we are still holding little long position. Today we are looking at two potential trades. 1.) Short - May be a short term counter trend trade to sell GBP/USD at 1.4220 and...
One trade is already done for the GBP/USD today which we shorted at 1.4015 and closed at 1.3990. Things are happening too fast and sometimes moves are coming out of nowhere. That's the reason we are not able to publish many Forex trade ideas these days. There are lots of opportunities but nothing suitable for long or medium term. Prices are flying everywhere...
Technical picture of crude oil has never been looking so good in recent times. To keep it simple, if curde oil manages to stay above $32.50 in next couple of session then we will be seeing 38 level shortly. The chart itself explains everything so no need to elaborate for Technically initiated traders ! ;) Check the linked idea for our previous published curde...
Correlation between fear and gold is pretty much intact. Besides when it's trading near 1000 it's obvious that it attract more buyers than usual. Because people thinking about bottom in gold are also itching to jump in. So now what's next? Well it totally depends upon equity behaviour. Now it looks like S&P could bounce upto 1950 / 2000 and that is going to put...