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USD/JPY Limited Bullish

The pair just weeks ago had a strong technical bearish move, with the pair moving below a key retest 50% fibonacci level as seen in monthly chart 1.
Monthly Chart 1.
As of September 15 the charts have changed enough to point to a prolonged bullish move. Assuming the pair will act more or less the same with any North Korea threat developments and nothing too good or bad unexpected developments from the FED meeting next week, then the pair is poised to move upwards, but with limited upside.
As see…
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After a high at 113.28 the pair seems to have formed support at 112.38, the level where it corrected during the early US session. Moving forward the next major resistance apart from the previous high at 113.28 is 113.66 and 113.77.

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Today's Trades

A LONG trade in USD/ZAR with a modest position size was entered and exited within the day, profitably.
A SHORT trade in USD/JPY is currently active with profit target 108.9 and big position size since technicals are looking strong.
Finally, our LONG EUR/USD trade from last week is still active, with the pair struggling to move up. Keeping our stop relatively small we remain in this LONG trade despite the politically-charged week with UK elections and ECB conference coming in.
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Dollar Weakness in USD/JPY & GBP/USD

Two new trade in today's European session. Despite the big decline on USD/JPY, we expected the pair has further to go so we entered a new SHORT trade with profit target relatively small compared to the potential move, but prefer at this point to minimize risk.
After the better-than-expected Retail Sales GBP/USD shot up. Despite a lot of selling at the highs we believe the pair is in an uptrend, so we entered a LONG trade after the news. A bit riky but that's why we are keeping profit target rela…
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EUR and JPY Pairs Weakness

Our EUR/GBP trade with a profit target 0.839 closed today as the pair completed it's closing of the gap, which was created after the second French elections round.
Similarly, but with a lot more reluctance the EUR/USD is slowly trying to stay below 1.09 and close the gap at around 1.0740. We remain in the trade, but as mentioned yesterday will be monitoring the profit target as there's bound to be resistance every step of the way.
Today, we entered two new trades. Based on general all around JPY…
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USD/JPY Strength and Weakness in the EURO

We entered three new trades today. The first one, a LONG position in USD/JPY closed within hours as the pair broke to new highs based on general strength.
The other trades were a SHORT in the EUR/USD and a SHORT in USD/CAD. The USD/CAD is a bit more risky so first we used a small position and second a small profit target at 1.3620. We believe the EUR/USD is going to finally correct after its continuous rise the past couple of weeks, hence a large position and a bigger profit target. Nevertheless…
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Difficult Week for Currency Trading

The awaited election results are keeping most EUR pairs at high levels, the EUR/USD in particular. Good PMI numbers haven't yet given a bullish signal in GBP/USD, which is caught in an upward channel, but at the same time in high levels and with no recent retracement to enter a long trade with confidence. EUR/GBP has been going up but we're still looking for a short trade as technicals support one in the medium-term.
Today, we entered (so far) two trades:
1. a long in USD/JPY, there's lots of b…
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Dollar Strength Against JPY

Overall look: The dollar seems to keep up agaisnt the JPY, with economic data coming from both countries encouranging mostly for the USD.
Chart 1: The pair seems to find resistance at the previous high at around 124. Overall strength in the dollar could push the pair higher.
Chart 2: There seems to be good SUPPORT at 115 level. From there an UPWARD move would see the pair at 131.30, the 127.2% Fibo level. We'll pick the more modest 161.8% level as our prediction from the Monthly chart.
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More Of The Same

MACRO: Taking into consideration the latest macroeconomic developments in Japan and the US and the pair's behavior to said developments we predict an overall UPWARD course for the USD/JPY till the end of the year. Technicals: If we are correct about the UPWARD movement of the pair, then the 327.2% RETRACEMENT level at 124.537 is the next most probable monthly target. Taking a less bullish stance and pricing in MINOR CORRECTIONS after the expected BREAK of the 119 level we choose the 127.2% DAI…
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BREAK of the 119 level today, DEC 3 2014. Heading for 119.97. The 120.59 level seems to be the next level to be reached even within this week. The 120.59 level seems to be a good by-the-end of the month level from  a more conservative perspective, but holiday liquidity and current momentum make the 121.59 level and our target still possible.

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So the 120.59 level was reached AND broken today DEC 5 2014 with a predictable UPWARD movement to the 121.59 level after the BREAK. High of the day so far stands at 121.675. Next targets are 122.66 and if this kind of MOMENTUM as today continues backed by the better than expected NFP's from the US then the 124.44 level doesn't seem out of reach any more. Still confident about our prediction at 122 if there's some kind of small to moderate correction, either after reaching the 124 level or after correcting from current levels and moving back upwards for the continuation of the move.

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TheAnalyst 23 Dec.

After a somewhat bigger correction than expected at 115.55 on DEC 16 the pair has recouped some ground, currently (DEC 23) sitting at 120.78.  A break of the previous high of 121.83 would see the price going for 122.66 and 123.22 depending on the momentum. If the break happens sometime within the next week and with a minor correction/reaction immediately afterward then our prediction will be spot on.

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TheAnalyst 29 Dec.

- DEC 29 Currently the pair's technical s point to an upward movement, but not without some resistance at the current level of ~120.50. Time's running out but an ~150 pip move is quite possible for our ~2 day time-frame.

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USD/JPY Going Down

The next 4charts for the USD/JPY point to a downward move for the pair. The first Monthlychart, using the how of April (dates as seen on chart) and on March (not themost current) in combination with an-about-to-turn MACD, gives us the
impression that the four candles above the line was just a false break and that
the move will continue downward. Of course since there's no actual close below the
line, plus the fact that although it tried the pair didn't reach the 200 MA
which stands at round 107,…
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ECB Conference Benefited the EUR Pairs

Managed to make a couple of positive trades in the EUR/USD pair today taking advantage ofthe momentum caused by the ECB conference.
Additionally, a quick trade with a 3.45 position in the EUR/AUD gave a relatively easy profit as the pair benefited from the ECB conference and didn't seem troubled at the time at the better than expected US GDP news.
Finally, took two longer-term positions, one on GBP/JPY since the pair seems to be in acorrection, setting the profit target at a Fibonacci level an…
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geula4x 31 Dec.

+1 Liked: Nice trade based on the fundamental ECB news! Happy trading in 2014! :-)

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