Shorts-and-longs by Alexander Kul

[alextrader79]

The pound has increased in its value over the past week. The GBP/USD currency pair has reached a rather strong resistance zone. The technical pattern is ambiguous for me at the moment. I don’t exclude a correction on GBP/USD in the nearest future. I’ve identified the following levels:
Support - 1.2440
Resistance - 1.2500

I plan to open positions after the breakthrough and retest of these levels. Confirmations and entry points can be found on the smaller timeframes.

 

[alextrader79]

Sellers dominate on USD/CHF now. I plan to open deals in the current trend’s direction. The currency is testing the 0.9920 local support at the moment. I’ll sell it, if the price fixes below this level. Potential movement - to 0.9875-0.9850.

 

[alextrader79]

EUR/USD is in sideways motion at the moment. I can identify the key support and resistance levels: 1.0780 and 1.0820. I plan to open transactions after the breakthrough and retest of these levels. The market is waiting for the speech of the Fed chairman.

I’ll buy EUR/USD to 1.0850-1.0875, if the price fixes above the 1.0820 level.

I’ll sell it to 1.0750-1.0725, if the price fixes below the level of 1.0780.

 

[alextrader79]

The technical pattern on USD/CAD indicates the "bullish" sentiment now. The currency has held the 1.3320 local support level. The nearest resistance is 1.3360. I’ll buy USD/CAD, if the price fixes above this level. Potential movement - to the 1.3400 round level.

 

[alextrader79]

I’m going to look for the entry points for short positions on EUR/USD today. The currency has formed the 1.0760 local support level. I’ll sell it, if the price fixes below this level. Potential movement - to 1.0725.

 

[alextrader79]

USD/JPY has found its support at 110.75. The yen held this mark yesterday. The technical pattern indicates the development of corrective movement. I plan to buy the pair, if the price fixes above the 111.50 local resistance. Potential movement - to 112.35.

 

[alextrader79]

The bearish sentiments continue to prevail on the USD/JPY pair. The yen has firmed below the 110.75 key support level. I plan to open deals in the current trend’s direction. I’ll sell USD/JPY, if the price fixes below the 110.15 level. Potential movement - to 109.50

 

[alextrader79]

GBP/USD is testing the 1.2525 "mirror" support level at the moment. The technical pattern indicates the continuation of the upward trend. If the price holds 1.2525, I’ll look for entry points to open long positions. Potential movement - to 1.2550-1.2575.

 

[alextrader79]

I expect a correction on EUR/USD. I’m going to look for the entry points into the short positions, if the price fixes below 1.0850. The nearest target for taking profit is 1.0815. This order will be short-time and speculative.

 

[alextrader79]

I think there will be the growth of the USD/CAD quotes. We can clearly notice a “triangle”, a classic pattern of technical analysis. The currency pair is testing the 1.3395 mirror support level. I plan opening orders after the price fixes above the 1.3410 mark. Potential movement – to 1.3450-1.3475.