Forex rebates on every trade - win or lose!

European Forex Session Wrap-up

The European session closes today, january 19th, with the GBP as, again the major winner of the session. Specially against the EUR, where the bearish indicators sentiment is weighing at the moment, driving the pair to the 0.6940 level. However, and despite this mornings recovery from the europeans against the greenback, they have almost retraced in full and lost all those previous gains.
At the time of this writing, the EUR is trading around 1.3025 against the greenback, 10 pips up. GBP is doing around 1.8725, up more than 100 pips, the Swiss Franc CHF- around 1.1855, loosing (USD gaining) some 10, and finally the Yen around 102.55, gaining 30, and keeping the strong yen view unaltered, though some signs of change arise and we could see some USD buying in coming weeks this view is again reaffirmed today. As yesterday said, I foresee very interesting times to come.
USD small brothers session performance : the AUD is trading around 0.7600, or 40 pips up, the NZD trading around 0.7020, or 50 pips higher, and CAD trading around 1.2275, down around 35 pips. I repeat once again, the performance of the USD against the CAD will be interesting to watch in coming weeks, after the pair is triggering long term bullish signals.
Economic events to resume for january, 21.

USD/JPY - Dollar-yen bounced lower from 103.00.


Dollar-yen bounced lower from 103.00 on continued selling pressure.
Trend: Neutral.
Try shorts from 102.80 target 101.80 stop 103.20.
Supports: 102.00, 101.50
Resistances: 102.90, 103.40


USD/CHF - Dollar-swiss has failed to break above 1.1890/00.


Dollar-swiss has again failed to break above 1.1890/00 resistance area.
Trend: Neutral.
Try longs from 1.1750 target 1.1850 stop 1.1720.
Supports: 1.1740, 1.1690
Resistances: 1.1810, 1.1860

Traps & Tumbles
The 'bear trap' and spike north which I expected yesterday to come real on EUR/USD were indeed confirmed, yet only partially since - although the pair managed to climb for like 100+ pips today in Europe, that up-swing could barely been seen on the 1-day chart.
GBP/USD got a bit more momentum to the north, but eventually fell down itself a lot in the US time.

Such failure shows the USD bulls revived back across the board - and it's possible now EUR/USD may take a good tumble as USD/CHF should rise out of an 'ascending triangle' (4-hr chart). I believe also USD/JPY has good odds to visit 103.70 at the least during a corrective spike north, and even the JPY crosses should be in the process of finding interim bottoming zones.

hola Mos

Just closed my USD/JPY short for +15. As you say didnt do much at all overnight. No positions at the mo. Might look to short USD/JPY after lunch

hola jeff beunas dias mi amigo ..
yep going to wait for directio,i feel going to be doing a bit more usd chf,find it behaves fairly well.....famous last words ...

USD/CHF - Dollar Swiss Franc
Short term (Intraday)
1,1843. USD CHF moves without trend and swings around exponential moving averages (EMA 50 and 100). The price is just bellow 1,1900 resistance. The volatility decreases. Bollinger bands are flat. Oscillators are neutral. The target is expected at 1,1780. We won't take a position.
Medium term (Daily)
USD CHF is in an downtrend directed by daily exponential moving averages. USD CHF is in a consolidation after the last bearish movement. The volatility rises. Bollinger bands are tightened. daily MACD crosses and gives a positive signal. The price should continue to consolidate. The price should find a resistance below 1,1800.
Long term (Weekly)
USD CHF is in an downtrend directed by weekly exponential moving averages. The volatility rises. Bollinger bands are drawing the trend. RSI is in a bearish configuration. The downtrend should continue on 1,1200 support.
Resistances
1,1860 - 1,1890 - 1,1900
Supports
1,1800 - 1,1740 - 1,1700

GBP/USD - British Pound Dollar
Short term (Intraday)
1,8717. GBP USD is in an downtrend directed by 4H exponential moving averages. GBP USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are tightened. Oscillators are neutral. The downtrend should continue on 1,8470 support. The price should find a resistance below 1,8740. We could take a short position at 1,8720. We will put the stop loss above 1,8755 (-35 pips). The targets are 1,8550 (+170 pips) 1,8470 (+250 pips). This is a dangerous trade, take care and put your stop loss.
Medium term (Daily)
GBP USD broke the triangle pattern's resistance. The pattern's objective is 2,0000. GBP USD is in an uptrend supported by daily exponential moving averages. The volatility rises. Bollinger bands are deviated. MACD is in a bullish configuration. The uptrend should continue on 2,0000 resistance.
Long term (Weekly)
GBP USD is in a triangle pattern. GBP USD is in an uptrend supported by weekly exponential moving averages. The volatility is low. Bollinger bands are flat. Oscillators are neutral. The uptrend should continue to gather momentum.
Resistances
1,8740 - 1,8780
Supports
1,8710 - 1,8660 - 1,8550

EUR/USD - Euro Dollar
Short term (Intraday)
1,3007. EUR USD broke 1,3010 support. EUR USD is in an downtrend directed by 4H exponential moving averages. EUR USD is in a consolidation after the last bearish movement. The volatility is low. Oscillators are neutral. The downtrend should resume with more vigor.. The target is expected at 1,2850. The price should find a resistance below 1,3015. We could take a short position at 1,3010. We will put the stop loss above 1,3040 (-30 pips). The major target is 1,2850 (+160 pips). This is a dangerous trade, take care and put your stop loss.
Medium term (Daily)
EUR USD is in an uptrend supported by daily exponential moving averages. The volatility is low. Bollinger bands are drawing the trend. RSI goes out overbought state and give a negative signal. The price should consolidate.
Long terme (Weekly)
EUR USD is in an uptrend supported by weekly exponential moving averages. The volatility rises. Bollinger bands are deviated. MACD is in a bullish configuration. The uptrend should resume with more vigor..
Resistances
1,3010 - 1,3080 - 1,3120
Supports
1,2970 - 1,2850

Short term (Intraday)
102,62. USD JPY is in a range between 102,00 and 103,00. USD JPY moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Bollinger bands are flat. Oscillators are neutral. The target is expected at 102,00. We won't take a position.
Medium term (Daily)
USD JPY is in an downtrend directed by daily exponential moving averages. The volatility is high. Bollinger bands are drawing the trend. MACD is in a bearish configuration. The downtrend should continue to gather momentum.
Long term (Weekly)
USD JPY is in an downtrend directed by Weekly exponential moving averages. The volatility rises. Bollinger bands are deviated. MACD is in a bearish configuration. The downtrend should resume with more vigor..
Resistances
102,60 - 103,00
Supports
102,20 - 101,80 - 100,00

I sold some USD/CHF at 1.1838, stop at 55

ok jm ,

right, time to get suited up for my trip to the smoke.

later mate

I've noticed that taking a position opposite to the 06:00 to 07:00/30 direction can often follow through nicely. So, today, to test out the phenomenon, I went short cable @ 18740.

Off to do some boring day job stuff so won't be able to check it until mid day.

Trade well guys and dolls.

That seemed to go well, taken 50 points profit before I've even left.

If I could do that every day I wouldn't complain.

mg, as ive mentioned b4 at the cost of some unrest on this thread the asain/europe handover normally provides great oppertunities..not everyday but more often that not..
well done.
mos

long $/Cad and/or short $/Yen possible best candidates?

hod dont trade thme to be honest below may help..?



USD/JP


Support is seen at 102.30 followed by 101.65 and 101.30. Key resistance was found at 103 followed by 103.25 and 103.60.
Current quote is 102.62.

Recommended trades:

Short at 102.80, t/p @102.50, s/l @103.00

USD/CAD

Current quote is 1.2299

Recommended trades:

Short at 1.2310, t/p @1.2255, s/l @1.2335

USD/CHF

Current quote is 1.1847

Recommended trades:

Short at 1.1895, t/p @1.1850, s/l @1.1915

Reversed my USD/CHF short at about 1.1851 before I left home for -13.

Mos, now I know what you meant by "ok jm"

lol