Shorts-and-longs by Alexander Kul

[alextrader79]

I still expect a downward trend on GBP/USD. The currency pair has formed the classical ‘Triangle’ figure. I’ll sell, if the price fixes below 1.2420. Potential movement - to 1.2350.

 

[alextrader79]

USD/CAD is testing the 1.3400 round level now. I plan to look for entry points into the market for opening long positions today. I‘ll buy USD/CAD, if the price fixes above 1.3420. The immediate goal for profit-taking is 1.3450-1.3475. This deal will be short-term and speculative.

 

[alextrader79]

The attention of financial market participants is drawn to the tomorrow's report on the US labor market.

GBP/USD has maintained a support level of 1.2420 yesterday. It caused an upward trend. The price is testing the 1.2495 resistance level now. A classical figure of technical analysis, “Triangle”, has formed on the market. I’ll buy the pair, if the price overcomes this resistance level. Potential movement - to 1.2555-1.2610.

 

[alextrader79]

The technical pattern on EUR/USD indicates the development of the corrective movement. The price has kept the local demand zone at 1.0635-1.0650. The MACD histogram is in the positive zone and continues to rise now. The closest resistance is the 1.0685 level. I’ll buy EUR/USD, if the price fixes above this level. The immediate goal for taking profit is 1.0740.

 

[alextrader79]

An important statistical data will be published today. The report on the US labor market is in the focus of attention. The preliminary report from ADP released on Wednesday indicates a positive statistics.

I usually don’t trade during such days. Still, I’ve identified the following key levels on EUR/USD
Support - 1.0640, 1.0600
Resistance - 1.0685, 1.0740

 

[alextrader79]

USD/JPY
Support - 110.15
Resistance - 111.00, 111.75
I’ll watch how the price will react to these marks. And I’ll get to trading next Monday. I wish you all high profits!

 

[alextrader79]

The US Department of Labor published a mixed report on Friday. At the same time, the US dollar has finished the trading session in the positive zone. The dollar index has risen by more than 0.5%.
USD/JPY has kept the key demand zone at 110.15-110.35. It has triggered aggressive purchases. The closest resistance level is 111.50. I plan to open deals in the current trend’s direction. I’ll buy this pair, if the price fixes above 111.50. The goal for taking profit is the 112.00 round level.

 

[alextrader79]

The drop of EUR/USD quotations exceeded 250 points over the past 2 weeks. I don’t exclude a technical correction. I’ve identified the following key levels:
Support – 1.0570
Resistance – 1.0600
I plan to open transactions from these levels.

I’ll buy it, if the price fixes above 1.0600. Potential movement - to 1.0645.
I’ll sell, if the price fixed below 1.0570. Potential movement - to 1.0525.

 

[alextrader79]

The technical pattern on GBP/USD is ambiguous for me now. I’ve identified the key levels:
Support – 1.2405
Resistance – 1.2425

I’ll open positions after the breakthrough and retest of these levels.
I’d buy GBP/USD, if the price fixes above 1.2425. Potential movement - to 1.2460.
I’ll sell it, if the price fixes below 1.2405. Potential movement - to 1.2370.

The data on the inflation in Britain will be published today at 8:30. This event can cause a strong movement on the pair.

 

[alextrader79]

Aggressive sales were at USD/CAD yesterday. The Canadian dollar has added more than 75 points. The currency found its support at the 1.3315 level. I plan to open deals in the current trend’s direction. I’ll sell USD/CAD, if the price fixes below 1.3315. Target movement - to 1.3280.