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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

DAILY RECOMMENDED FOREX TRADE
Thursday, January 20, 2005 9:43 GMT
Daily Report
By FortKnox Trading
http://www.fortknoxtrading.com


USD / CHF
USDCHF is being traded in range between 1.1700 and 1.1900. The RSI in 4 hour and daily charts is around 60 while around 50 in weekly charts suggesting the range bound nature of USDCHF. While the currency stays in a range, it provides traders especially intraday traders to enter on any side of the range. Entry with tight stop is suggested and trailing stop might be used to extend the profit range.


Recommendation:

Sell USDCHF at 1.1902 with 40 pips stop (1.1942) and take profit at 80 pips (1.1822). Target is at 1.1763