Posts by "stationdealer"

its best to play 130/129 sell to 126 now

Short positions below 107 with targets @ 103.3 & 102 in extension after that 100. The RSI has broken below its rising trend line, the pair is under pressure and is challenging its support.

EUR/USD

Bullishness in the pair continues as the price breached and closed above the upper channel line that the pair has been trading in since early June. The close was also above the 100-day simple moving average line. The 10-day RSI is sloping sharply higher, indicating that the momentum is to the upside. Near term resistance for the pair rests just below 1.3100.

GBP/USD

The pound was a strong mover in yesterdays trading as the cable closed above the 23.6% Fibonacci retracement level for the long term downward trend, as well as a close above the long term downward sloping trend line that began in July of 2008. Traders should be long on the pair with a minimum target at the resistance level of 1.5520.

USD/JPY

A significant drop in the value of the pair was registered yesterday as the pair fell as low as the support level at 87, the year to date low. The downward momentum looks to continue as an absence of technical resistance on the charts could move the pair as low as 84.80, the November 2009 low.

USD/CHF

Yesterday the pair breached below the near term resistance levels of 1.0480 and 1.0430, ending the short term consolidation that the pair had experienced. The next target for the pair will be the 74.6% Fibonacci retracement level from the previous bullish trend at a price of 1.0350.


and now The Wild Card

Oil

The daily chart shows two candlestick patterns that hint to a slowdown of the recent bullishness of spot crude oil. Wednesdays trading ended slightly higher but formed a doji candlestick, signaling potential short term weakness. Yesterdays trading was more volatile with the pair falling as low as the support level of 75.80 and rising as high as 78.06, forming a long legged doji candlestick. This shows indecisiveness on the part of traders and signals wavering support for the bullish move. CFD traders may want to tighten their stops on any long positions they may have in spot crude oil

:)

Yes I agree there is certainly room below but that vaccum that was there before seems to be missing recently.

And yes I have actively trade AUD and CAD vs EUR and GBP over the past 2 months made some real good profits. I also advised some people here that it had some great swing potential, but I guess they pay more heed to your views. You probably missed that move while you were on your vacation in SA but man those were some great plays there. im still in few like EURCAD, EURAUD, GBPAUD, GBCPAUD, AUDCHF, and CADCHF NZDCHF