Hi,

Forget to inform you that the ISM will be annouce today. Also ,because of the closing wedge of JPY, news could be a strong moving factors to this pair.



Regards

GBP will going down for a moment to 2.0320.....is it right ?

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Forex Indicators Collection

Hi,

I am wrong this time, for this week analysis, the Cable did not trend and the EUR move the other way round .

However, the JPY did move in an interesting direction as mentioned. The closing wedge seem to be broken. It looks like moving in th uptrend.

Regards

Hi,

Cable - Last week was an interesting week because while i though I was wrong, the trend actually reverted. For the first 3 days of last week, the trend for cable was in the downtrend. However, starting from Thursday onward the price actually recovered. One amazing thing to take note is that the NFP actually tried to pull down the price further but an hour later the price shoot back north. This strong reaction made me feel that the trend for cable is still on the uptrend. Refer to the weekly chart, we can see that the cable for this week left with a long tail. Due to this setup formation, I am a bit confuse now though I still see the price is moving uptrend. Based on the RSI, there is still room for cable to made uptrend direction.

EUR - The EUR on the other hand had shown some sign of retracement on the uptrend. The weekly chart shown a white down bar. Though the overall trend is still on the upside, I have a strong feeling that EUR is trying to retrace a bit before it will go up further. It is difficult to judge now, but if it continue to move upward then the price at 1.4545 shall be a strong resistance.

JPY - This pair is getting more interesting now after breaking out from the closing wedge and moving in the north direction. I see a good chance for this pair to go further. Loking at the weekly chart I see that 119.87 is a resistance to test. The RSI in the weekly and daily chart in a healthy range ufor uptrend.

AUD - If you notice AUD, this pair reached it 18 yrs high on the last friday move. It did not response till straight after the NFP but a bit later. I made a scalp on the trade , it was a good one.

Regards

Attached Images

	GBP 1W.JPG (55.5 KB, 214 views)
	JPY 1D.JPG (50.2 KB, 214 views)
	JPY 1W.JPG (51.0 KB, 212 views)
	EUR 1W.JPG (56.9 KB, 211 views)

How is tommorrow for GBP/US ?

Nic

__________________
Nic
Change $300 to $300K Free Forex Strategy Communication Items

Hi,

Based on the hourly chart as shown, the price action from last Wednesday to Friday has a big up and down movement. The buyer and seller are fighting against each other violently! Though we have a final upside in the price movement, it is still difficult to judge the direction of the trend on daily basis. If you notice todays news, all are pertained to the GBP only and nothing from the US. In addition, today is Monday and after such a big move from last wednesday till Friday, I will not take any risk to enter the market for an intraday trade. Scalping maybe.

Another important point to add is that, the support at around 2.0269 becomes a strong support after the friday moves.

Look out for ADX and PP sign as mentioned earlier. The ADX is at the bottom and RSI is above 50. But the stochastic is right above and look like coming downtrend. So it is better to wait for the Stochastic for more criteria. It could be a choppy market today, who knows.

Good trading to you for the week!!!

Attached Images

GBP 1H chat.JPG (74.6 KB, 182 views)

Hi,

This week is a "heavy" week due to a lot of important data release,

Monday
GBP PPI Input m/m
GBP Industrial Production m/m
Comments: May move the price a bit only.

Tuesday
USD FOMC Meeting Minutes
Comments: Sit up straight for this news

Thursday and Friday
JPY Interest Rate Announcement
USD Trade Balance
USD PPI
USD Retail Sales

Regards

Hi,

As mentioned earlier, the cable is indeed quite choppy to day, no clear direction. In fact, I didn't have a chance to trade at all because there is no criteria.

At least, I am able to identify choppy market, and no trade is better than lost trade.

I still happy about it though today is really a boring day for me.

Regards

Hi

Eur dollar look like it is undergoing a retracement now, I have drawn a fibo line on the daily chart to identify this. I am not suprise to see a 50 to 61.8% retracement. So for a short term, EUR will still be in the bearish mode.

As usual, JPY is still on the upside after the breakout!!!

Good trading today!!!

Attached Images

EUR Daily.JPG (40.3 KB, 147 views)

Hi All,

I have just post a new indicator that calculate woodies pivots point.

Please refer to post 66.

Thanks