Month: May 2013

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USDJPY 30.05.2013 Outlook

USDJPY 30.05.2013 Outlook

The USDJPY finally found resistance at 103.04 and from there USDJPY suffered a 200 pips drop. Price then found support at the 101.02 level and has been trading at that level for 4 trading days. Recent price action has shown a potential bearish move coming. I would like to see today’s closing move for confirmation….

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GBPUSD 30.05.2013 Outlook

GBPUSD 30.05.2013 Outlook

Recent price action has shown GBPUSD has found support at 1.5023. However, this is not a support which I am that comfortable with. Anyway, my style of trade is to follow whatever the price say and price tells me we have found support. Price suggest a buy for GBPUSD with the target at 1.5216. A…

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AUDUSD 30.05.2013 Outlook

AUDUSD 30.05.2013 Outlook

AUDUSD found temporary support at the 0.9631 level which has a confluence of 2 time frame support. On 23rd May 2013, price gave a hint that it may have found a potential support. So far price action has conformed to that view. I would be looking to buy AUDUSD. A close above 0.9693 would further…

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EURJPY 14.05.2013 Trade Result

EURJPY 14.05.2013 Trade Result

As mentioned yesterday, I took a highly speculative short on the EURJPY. I shorted the EURJPY at 131.93 and had other short orders at 132.15. About 3 hours after the trade was initiated price moved down and hit a minor support at 131.55.  Since it was a minor support I did not bother much about…

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GBPUSD 13.05.2013 Outlook

GBPUSD 13.05.2013 Outlook

The GBPUSD has recovered and close higher than the level when Moddy’s downgraded UK’s AAA on 25th Feb 2013. Price is currently in an uptrend and has also managed to close above the level of 1.5216 which was the level which GBPUSD was trading before the downgrade. At writing GBPUSD is trading at the 1.5321…

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EURJPY 13.05.2013

EURJPY 13.05.2013

I am taking a highly speculative sell on the EURJPY. From the EURJPY diagram above, EURJPY has hit the 132.22 resistance and suspect that there should be some form as retracement. This is from the fact that after 6 and a half months of uptrend, USDJPY has finally broken the 100 resistance barrier set since…

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AUDUSD 13.05.2013 Outlook

AUDUSD 13.05.2013 Outlook

Finally after about 9 months. the AUDUSD managed to break the 1.0166 support. After 2 days of hard selling from, the sell momentum seemed to have abated. However I still maintain my sell view as price has not tested the support at 0.9914. If price manages to break 0.9914 support, the next support would be…

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AUDUSD 08.05.2013 Trade Result

AUDUSD 08.05.2013 Trade Result

I took an opportunity trade with the AUDUSD yesterday 08.05.2013. On 07.05.2013 price tested the support at 1.0166 and shown in earlier posting. For the AUDUSD past moves, please check the last posting here. Since 1.0166 is regarded as support I look at the hourly chart to look for reversal clues which is my show…

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AUDUSD 02.05.2013 Outlook

AUDUSD 02.05.2013 Outlook

When you know the logical way to draw support and resistance, you will see price reacting to the lines as you draw it. On 30.04.2013, I mentioned that the AUDUSD is hitting the resistance of 1.0369 and do watch out for that resistance for showcard clues. For those who are new to my blog, showcard…

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