moneytree123
Recruit
- Messages
- 1
AUD/USD
The bulls won the battle after the AUD hit 0.9287 level we re-hit the last weeks target of 0.9400 which was extended to 0.9457. There is resistance at 0.9438 the R2 level on the daily pivot points. I will be expecting to a channel to form between 0.9424 and 0.9448 briefly before a breakout which I will set as pending trades either side of the channel.
EUR/USD
We broke out of the channel as expected into a bullish scenario. The price hit the high of the year at 1.3650 from back in January then returned to the top of the channel. I would like to see this make a new high before entering for another buy or breaking the base of the original channel for a sell. check out the technical analysis thread to see the chart that explains the analysis.
GBP/USD
As we explained last week the top of the rising channel was acting as resistance and the GBP/USD turned around and head south. I am expecting the base of the rising channel to become the next support level around 1.5947 depending on how long it takes to get there. Check out the technical analysis thread to see the chart that explains this analysis.
USD/CAD
We are still clinging onto the resistance level from last week, however we are staying below the rising channel that we broke out of last week. My confidence in the bearish trend is growing but I will still have to see 1.0300 become strong resistance before I make my move.
USD/CHF
We are in a bearish trend at the moment and have breached a long term channel. The bullish trend that we saw develop late on in the week is the return to 0.9085 base of the long term channel which was expected. We are nearly there and I expect this to turn around into a sell early next week.
USD/JPY
The USD/JPY has slightly breached the bottom of the symmetrical triangle that I spoke about last week but it is still not confirmed. On the 4 hour chart there is a bearish channel that we are currently close to the top of. I will be selling this as soon as the markets open on Monday.
The bulls won the battle after the AUD hit 0.9287 level we re-hit the last weeks target of 0.9400 which was extended to 0.9457. There is resistance at 0.9438 the R2 level on the daily pivot points. I will be expecting to a channel to form between 0.9424 and 0.9448 briefly before a breakout which I will set as pending trades either side of the channel.
EUR/USD
We broke out of the channel as expected into a bullish scenario. The price hit the high of the year at 1.3650 from back in January then returned to the top of the channel. I would like to see this make a new high before entering for another buy or breaking the base of the original channel for a sell. check out the technical analysis thread to see the chart that explains the analysis.
GBP/USD
As we explained last week the top of the rising channel was acting as resistance and the GBP/USD turned around and head south. I am expecting the base of the rising channel to become the next support level around 1.5947 depending on how long it takes to get there. Check out the technical analysis thread to see the chart that explains this analysis.
USD/CAD
We are still clinging onto the resistance level from last week, however we are staying below the rising channel that we broke out of last week. My confidence in the bearish trend is growing but I will still have to see 1.0300 become strong resistance before I make my move.
USD/CHF
We are in a bearish trend at the moment and have breached a long term channel. The bullish trend that we saw develop late on in the week is the return to 0.9085 base of the long term channel which was expected. We are nearly there and I expect this to turn around into a sell early next week.
USD/JPY
The USD/JPY has slightly breached the bottom of the symmetrical triangle that I spoke about last week but it is still not confirmed. On the 4 hour chart there is a bearish channel that we are currently close to the top of. I will be selling this as soon as the markets open on Monday.
