1-5-07
USDJPY
The 1.1960 area of supply stopped the USDJPY and it has fallen to the 1.1800 area.
I would pass on the trading this pair long until the moving average catches up to the trading range, or short 1.1920 next time back to the area.
1-5-07
USDCHF
The area of supply at 1.2320 has turned the USDCHF around for now.
If you are short, watch for the 1.2268 area and the 1.2216 area to act as support
if the USDCHF continues lower.
1-5-07
GBPUSD
The GBPUSD has taken quite a hit, and has taken out several areas of demand including the important weekly area which means sellers are in control.
It is setting up for a breakout trade above 1.9429. The target is 1.9500 which puts us back inside the weekly range if we close above 1.9485.
1-5-07
EURUSD
The EURUSD has come back down to the weekly area of support and is bouncing again.
It is setting up for a breakout trade up to 1.3160 once it clears 1.3110 this morning.
The sellers are in control, but the moving average is in the range and the price is above it.
1-3-07
GBPUSD
The GBPUSD has hit resistance at 1.9750 and it could sell off down to the 1.9695 area. I would buy the pullback to 1.9655 if the sell off extends past 1.9695.
1-3-07
EURUSD
There have been big moves out of ranges for the EURUSD and other currencies over the holiday with gaps on charts where moves happened on other platforms. The EURUSD is basing between 1.3266 and 1.3291 today, but the USDCHF has just broke out and the EURUSD could sell off.I would buy the pullback to 1.3238 if the EURUSD does sell off.
1-3-07
USDJPY
The USDJPY sold down to the 1.1850 area over the holiday and it looks like it will trade in a range between 1.1850 to 1.1900 for a few days.
1-3-07
USDCHF
The USDCHF has broken out of a 3 day trading range at 1.2134. Buy the pullback to 1.2134 if it happens. The range should be between 1.2134 and 1.2183.
1-1-07
USDCHF
No trades on Friday. I will still trade the 1.2145 to 1.2444 range early this week.
1-1-07
USDJPY
The USDJPY is still trying to absorb the area of supply at 1.1910. It looks like a breakout past 1.1912 is setting up for a move to the 1.1950 area of supply.
1-1-07
I am looking to trade the 1.9494 to 1.9630 range in the GBPUSD when trading resumes after the holidays.
1-1-07
EURUSD
The EURUSD had a fairly steady Friday, and it never reached the top or the bottom of the 1.3129 to 1.3120 range for an entry. I see the EURUSD trading in a range between 1.3180 and 1.3274 next week once the area of supply at 1.3220 is absorbed.
That will be the range I look to trade when trading resumes after the holidays.
