ChuaYunRong

ChuaYunRong

Heads and shoulder on 4h ! supports at 121.34-38 area might meet the price when the london exchange opens, while RSI on 15 min will then indicate overbought. possible short @ 121.32, SL 121.85, TP 120.01/119.05 depending on your risk appetite RR 1:2.42/4.26 respectively alternatively a break above 121.86 will see me look for dips to go long

ChuaYunRong

Daily main trend down look for highs to sell Short @ 0.6919 tp 0.6688 sl 0.69670 RR = 1:4.87 price above 0.6968 will go above to test a new high of 0.70820

ChuaYunRong

earlier sessions reject from a temporary resistance of 1.188, and seeks for further consolidation to go towards above the 1.19 level. daily chart RSI is nevertheless still BULLISH , a short term opportunity for a sell towards 2 areas 1.18018 and 1.17505 respectively once again i believe the lower we go , the more buyers we find as long as 1.167 holds. if 1.18018...

ChuaYunRong

Main trend is up on the daily, a potential 500pip long setup towards 139.098 a weakening JPY , strong eur and the german elections shouldn't be ruled out, with EURUSD slowly regaining track trading at around 1.2 currently. buying dips could be the correct strategy to trade the eur at this point of time judging on the price movement. R3 : 139.098 R2 : 137.067 R1...

ChuaYunRong Updated 

Potential long setup towards the 1.21 handle, a gravestone doji proved to be a strong support few days back at 1.184 area in high volume conditions which indicates there are plenty of buyers below. a trade above 1.19955 -1.12 (61.8%), will signify up to 1.209 - 1.21 (100%) in view of FOMC statement release tomorrow. key selling levels : 1.191 , 1.198 & 1.200 key...

ChuaYunRong Updated 

From friday's Jackson hole speech from both yellen and draghi, the market has been extremely supportive ending the lows of the day at 109.113 , which only indicates that we have a fair amount of buyers willing to buy dips as we approach to the 109 handle. while i was shorting this pair through friday, i realised how the market reacted to the news , and i did...

ChuaYunRong Updated 

Bouncing off to close at 1.28833 from a new low of the week at 1.2776 , which is also a major resistance on the daily on 21st June 2016, is in its ''no trade zone'' currently. RSI is bearish bias on the 4h, but has plenty of room to move further upside on the daily chart. 1.2776 also happens to be one of the support on the channel up as show above. the highs of...

ChuaYunRong Updated 

an in-symmetrical 3 drives pattern has formed from the previous rally , and from here we can see the second major support at 1.28135 broken from yesterday's session, reaching below the 1.28 handle and confirming a trend reversal from highs of 1.32. i'm currently looking for a retracement back to the 1.28484 - 1.29183 area for a long-term short position towards...

ChuaYunRong Updated 

Mario draghi's speech regarding the eurozone's economic recovery has brought a huge spike above to a fresh 1 year high of 1.1941, well above the major resistance of 1.191. RSI indicates bullish bias , and severely overbought on the 4h chart. bullish trend continuation and completed bullflag on the daily with a breakout retest done on the 15 mins chart. potential...

ChuaYunRong Updated 

With Mario Draghi on the Jackson's hole symposium ready to speak, i believe that Draghi does really have the intention to talk the euro down with a dovish stance as a strong euro wont benefit much to the european government and it's economy. The dollar's slow rally seems to be gaining much traction as fed officials gives hints on planning a reduction of the...

ChuaYunRong Updated 

With yesterday's US session closing at 109.03 which is above a major level of 109 despite lows of 108.918, the market has found enough buyers below 109. While traders await the 3 days Jackson's hole Symposium held at Wyoming, it looks like the market is ranging between 108.6 and 110, while waiting for clues on the final direction of this market. We see 2 major...