moneytree123
Recruit
- Messages
- 1
AUD/USD
We expected the bearish trend to continue and it did. We still have not reached the base of this sell direction and we are still looking for around the 0.9300 mark as the next base line. However we are currently lagging just under the 0.9400 level and would like to see this become resistance. I wouldn't rule out pull backs to this level before we continue south.
EUR/USD
The Euro dropped like a stone again last week right back to the 1.3300 level and although we have seen it bounce back to 1.3370 I will be taking this as my next entry level and hitting the bearish trend again. as long as 1.3450 remains resistance I will be selling all the way to 1.3225.
GBP/USD
The bounce of the support paid off last week and we took some nice profit on the up trend as for this week it might be a little difficult to pin point an entry for either a buy or a sell. We have finally broke out of the side of the rising trend line but seem to be stuck in a range between 1.5922 and 1.6236. Although it is big enough to take profit either way we are currently stuck in the middle just below an old resistance level. This really could go either way, so I will be waiting to see more signs of direction on Monday and Tuesday. Have a look in the technical analysis section to see a chart outlining these levels and it will all become clear.
USD/CAD
We did well last week to predict the buy trade on this currency pair and we picked a breif new high set on october 3oth but only briefly by 6 pips. The pullback to 1.0479 is text book and should see this level become support. I will be looking to get into this again for a buy unless 1.0470 becomes resistance again.
USD/CHF
Itis a game of strongest support and resistance with this currency pair at the moment making it quite volatile and very unpredictable. The ECB didn't help last week but hopefully we will be able to see more of the technical analysis go to work in the coming week. there are a number of support levels on the way down which I would like to pay attention too. 9.150, 9100 and 8.900 I will be using these levels as stop loss and take profits on the way back down next week on the bullish side of things I am considering last weeks bullish bias and retracement of the longer term new lows that we have witnessed.
USD/JPY
Still we are playing around with this rising trend line, although we predicted a sell early in the week last week that came true the rising trend line is making it impossible to enter safely. Currently back up to the rising trend line I will have to see this become strong support before entering the buy. Although I will not be entering this again until it becomes more stable I would expect to see another down turn next week.
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We expected the bearish trend to continue and it did. We still have not reached the base of this sell direction and we are still looking for around the 0.9300 mark as the next base line. However we are currently lagging just under the 0.9400 level and would like to see this become resistance. I wouldn't rule out pull backs to this level before we continue south.
EUR/USD
The Euro dropped like a stone again last week right back to the 1.3300 level and although we have seen it bounce back to 1.3370 I will be taking this as my next entry level and hitting the bearish trend again. as long as 1.3450 remains resistance I will be selling all the way to 1.3225.
GBP/USD
The bounce of the support paid off last week and we took some nice profit on the up trend as for this week it might be a little difficult to pin point an entry for either a buy or a sell. We have finally broke out of the side of the rising trend line but seem to be stuck in a range between 1.5922 and 1.6236. Although it is big enough to take profit either way we are currently stuck in the middle just below an old resistance level. This really could go either way, so I will be waiting to see more signs of direction on Monday and Tuesday. Have a look in the technical analysis section to see a chart outlining these levels and it will all become clear.
USD/CAD
We did well last week to predict the buy trade on this currency pair and we picked a breif new high set on october 3oth but only briefly by 6 pips. The pullback to 1.0479 is text book and should see this level become support. I will be looking to get into this again for a buy unless 1.0470 becomes resistance again.
USD/CHF
Itis a game of strongest support and resistance with this currency pair at the moment making it quite volatile and very unpredictable. The ECB didn't help last week but hopefully we will be able to see more of the technical analysis go to work in the coming week. there are a number of support levels on the way down which I would like to pay attention too. 9.150, 9100 and 8.900 I will be using these levels as stop loss and take profits on the way back down next week on the bullish side of things I am considering last weeks bullish bias and retracement of the longer term new lows that we have witnessed.
USD/JPY
Still we are playing around with this rising trend line, although we predicted a sell early in the week last week that came true the rising trend line is making it impossible to enter safely. Currently back up to the rising trend line I will have to see this become strong support before entering the buy. Although I will not be entering this again until it becomes more stable I would expect to see another down turn next week.
Follow my Signals for FREE on ZuluTrade
