Today the fx markets opened with gaps facing down mainly due to the recent events in Ukraine and Russia, where intense situation almost escalated into a war. Almost...but the chance that we could be on the brink of war still remains.
Today I recommend watching the Ukraine news, as those could be the key to fx market changes that could even surpass the findamental economical PMI news from Europe and US.
We sold GBP/JPY and AUD/JPY on Sunday night when the 169.60 and 90.66 levels…Continue
Added by Thom Grey on March 3, 2014 at 7:36am — No Comments
Yesterday we sold EUR/USD, GBP/USD and EUR/JPY.
For today I recommend selling EUR/USD again from 1.3691 level. Reason for entry is quite simple: 123 strategy (High – low – high – broken low), and broken uptrend lower channel line, which indicates that EUR/USD could be going down. If 1.3691 level is broken and hourly candle stays below, we could see the price going for 1.3644 first (first profit target) and then possibly to 1.3600. Anyway, I suggest moving stop loss order of…Continue
EUR/USD has broken the daily support at 1.3685, which also served as the last week low. With this in mind, we will be selling this pair, unless it comes back above 1.3700. I suggest selling it from 1.3681 with stops above 1.3703. First profit target is near 1.3640.
I also suggest selling GBP/USD from 1.6671 with stops at 1.6711. Sell two positions and the first has to be closed near 1.6630. GBP/USD is currently in a descending channel and unless it breaks the 1.6730…Continue
Yesterday we bought EUR/USD from 1.3745 and EUR/JPY from 140.93. I suggest holding those trades with the same profit and stop targets like I described yesterday.
In case EUR/JPY starts reversing, wait for the pair to break the support barrier at 139.00 and sell only then. I still think that we will hit the weekly top at 145.47, make a double top and only then we might retrace a bit further.
GBP/JPY is stuck in the same whipsaw channel between 171.80 and…Continue
We bought EUR/JPY from 140.93 and GBP/JPY from 171.20 on Friday. GBP/JPY didn’t work out, even though I still believe we will see this pair coming up.
EUR/JPY didn’t fall that much and we’re still in a EUR/JPY buy trade from 140.93 with the same stops at 139.93. First profit target is at 141.93. If you haven’t bought this pair, I suggest doing it now, from lower levels (currently it’s at 140.54)
I would recommend buying GBP/JPY if it breaks current resistance level at…Continue
Added by Thom Grey on February 24, 2014 at 7:30am — No Comments
We sold GBP/USD from 1.6705 yesterday and our stop loss was set at 1.6755. Stop loss wasn’t hit and now we have a floating 13 pips of profit. I suggest moving your stop loss order to break even and waiting for the profit target at 1.6620. In case the price starts moving in a whipsaw pattern, it’s better to stay on the safe side.
EUR/USD is also moving north without even falling back and I suggest buying this pair on dips. One such opportunity is just near 1.3713 level (daily…Continue
Added by Thom Grey on February 19, 2014 at 7:42am — No Comments
EUR/USD has been moving near resistance levels for three days already without clear or aggressive movement north or south. I suggest selling it only after it breaks current daily support at 1.3688 with stops above 1.3726. Sell two positions with profit targets at 1.3650 and 1.3620. In case the price moves in a whipsaw pattern and pushes out our stops, don’t sell this pair anymore. EUR/USD may as well be in the accumulation mood looking for higher highs.
GBP/USD is also…Continue
Added by Thom Grey on February 18, 2014 at 7:24am — No Comments
I'm just trying to learn and want to share my chart with you guys, GBPUSD$ is now sitting above monthly , weekly and daily supply downline which is 1.6741, if price breaks it then it will test 1.68750 which is daily supply upline. if it successfully breaks then pound will be ready to fly to 1.70479 which is monthly supply upline and was last tested on 2009.08.05 at 00.00 Open:1.69323 High:1.70419 Low:1.69001 Close:1.69912, we are 116 pips up right now in this zone and if it touches the…Continue
Yesterday we were selling EUR/USD from 1.3658. Stop loss was moved to 1.3653 and it was hit shortly after my signals. Well, better safe than sorry...We still got 5 pips.
EUR/USD has reached daily tops near 1.3705 after yesterday’s quick climb up from 1.3563. Today is Friday and I suggest using the opportunity and selling it again from lower level near 1.3668. Sell two positions with stop loss at 1.3706. Initial profit target must be placed near 1.3630. Don’t sell guessing tops, as it…Continue
Yesterday we sold EUR/USD from 1.3658 and closed one position at our initial profit target at 1.3610. First target was hit bringing us 48 pips of profit. Right now I suggest keeping your last position with the same profit target at 1.3500. Move stops to 1.3653, in case EUR starts appreciating against the USD aggressively.
I also recommended selling USD/JPY and EUR/JPY…
We sold two USD/JPY positions from 102.37 with first profit target fixed at 102.02. It was…Continue
Added by Thom Grey on February 13, 2014 at 7:30am — No Comments
Yesterday we sold EUR/USD from upper downtrend channel line at 1.3658 with stops at 1.3703. We sold two positions with the first profit target fixed at 1.3610.
Today I suggest moving your stop loss order for both positions to break even in case of reversal and holding them until they reach our predefined profit targets, which remain the same (1.3610 and 1.3500).
We were also selling USD/JPY from 102.62 and 102.22, but the price retraced and touched our entry…Continue
Added by Thom Grey on February 12, 2014 at 7:30am — No Comments
Currently watching EURJPY Daily. The RSI has just formed a nice hook potentially indicating that a bottom has formed / is forming. Buying on any sign of a reversal indicating that the price has bounced off of the trendline. As far as a fundamental perspective is concerned, we just saw good numbers for the euro on the German manufacturing PMI. ECB Interest rate decision is…Continue
Added by Ola Odland Silgjerd on February 3, 2014 at 8:50pm — No Comments
"Forex Daily Dose" presents a quick snapshot of the price-action of EUR/AUD, EUR/GBP, USD/INR, USD/CAD, EUR/USD, GBP/USD, USD/JPY and AUD/JPY for the immediate and medium-term outlook.
Added by Himanshu Jain on January 3, 2014 at 5:30am — No Comments
Someone said that those who are patient usually get the largest piece of pie. I don’t know if it’s true, I always thought that the quickest get the largest piece, but it’s not always like that. In forex you can’t rush, especially when making trade decisions and analyzing the market. Right now we are seeing some kind of rertacement and as today is a new week, this vague hourly euro…Continue
Added by Thom Grey on June 17, 2013 at 6:59am — No Comments
Here is my DAILY XAU/USD (GOLD) chart...
After my target being hit last week for 350/400 pips on my sell analysis I think we are approaching a support zone..
Support is in around $1590.So i have drawn in the FIB tool from last years highs..
As you can see the non-lag…Continue
Here is one of my reasons for entry after my downside target of 1.2990 area was hit I am now long with a target of 1.3471 as shown on my weekly chart. Daily chart showing good support supported by weekly S3 a bounce of the 50 day sma, and 61.8% retracement. For those who are used to seeing me in the chat room I will only be visiting there when my targets are hit and or i am expecting a reversal as the madness of the room distracts my trading.…Continue
Added by forex max on January 7, 2013 at 7:30am — No Comments
The Septembers rally finally found some resistance. Where? At the 38.2% fib retrace of the move down on from 1.3940 to 1.2042. Because the market has memory I will look on the chart back in time to see if this price level (1.3150 - 38.2 fib) has some major importance.
First of all we should answer the question what is the trend now on a daily chart? Is it an uptrend or the change of trend still needs to be confirmed?
The uptrend scenario:…Continue
Added by Pipomatic on September 22, 2012 at 9:59pm — No Comments
Since the Euro ended last week with a false break, over the last two days the regional currency formed an inside bar, while today posting a combo pin bar. What I find interesting about these two is how the…
Added by 2ndSkiesForex on September 4, 2012 at 9:48pm — No Comments
As the snoozefest continues with investors pulling out prior to the Jackson Hole meeting this Friday, breakouts are an endangered species till then while small ranges are dominating. Tis no surprise that an daily inside bar formed on almost everything, but the one that is more notable is the one on…
Added by 2ndSkiesForex on August 29, 2012 at 10:02pm — No Comments