EURUSD - Coming to a Head
Thursday, August 2nd, 2007Buyers were unwilling to commit after the brief pop in price yesterday morning which went away just as quickly.
The good news is that there wasn’t a decisive move in either direction with the Daily chart holding at support. The wild card out there is the NFP release due out tomorrow morning. It’s very possible the […]
EURUSD - New Month, Still Hanging In
Wednesday, August 1st, 2007Buyers weren’t interested in coming in yesterday with a failure to break above the 1.3726 area (per my previous post). Despite this, selling action yesterday was well contained with this morning’s action looking like support is holding, for now.
The long idea is still valid with a break above the 1.3726 area since that’s where sellers […]
Euro Coming Back?
Tuesday, July 31st, 2007After the selloff last week, EURUSD seems to have held support in the 1.3600 area. But are buyers serious about coming back at this point? With U.S. PCE about to be released this morning it’s a tough call.
Attached are the daily and 4-hr charts for your viewing pleasure. I’d personally wait for price confirmation with […]
The Bounce Is Your Friend
Friday, July 27th, 2007Okay, so the subject isn’t as catchy as, “the trend is your friend” but it’s just as valid (more below).
With all the JPY crosses crumbling on daily charts like it was going out of style and the majors experiencing similarly strong moves, I hope you were all able to catch a piece of the action.
I […]
EURCHF - The Sellers Win…For Now
Thursday, July 26th, 2007Resistance held with selling coming in overnight. Thankfully, my breakeven stop (noted in my previous post) was in place so no harm done.
Interestingly, if the current selling doesn’t break definitively below the 1.6550 level (area of congestion/support) I believe there might be another chance to make a run to the upside for a potential break […]
EURCHF - Closing Time?
Tuesday, July 24th, 2007Generally speaking, whenever I see the price exhibit weakness at key support/resistance or recent high/low levels I start thinking about getting out of the trade especially if I’m not way in the money at that particular point.
In this case EURCHF traded through the most recent daily highs made back on June 19th but failed to […]
EURCHF - Update
Saturday, July 21st, 2007Well, looks like I got the upside action I was looking for but not exactly (see previous post).
I was ideally looking for a break above 1.6610 and for the pair to hold it. By the close on Friday the price settled underneath the 1.6600 figure so it didn’t follow through with my expectations. Still, the […]
CADJPY - Explosive Yes, But In Wrong Direction
Saturday, July 21st, 2007Wow, what a day for JPY crosses on Friday. This makes the second strong sell-off within two-weeks for these pairs that I got the pleasure of taking it on the chin. I’m a glutton for punishment I guess. CADJPY made its move all right…too bad it was in the opposite direction.
I got out almost immediately […]
CHFJPY - The Good Fight
Friday, July 20th, 2007It put up a good fight but couldn’t convert. Despite drifting higher almost immediately after I first posted on the idea it hasn’t been able to make and hold any significant ground in positive territory.
Since the last update on this long play, CHFJPY has teetered back and forth moving roughly sideways for many days. I’ve […]
EURCHF - Pressure Mounting?
Thursday, July 19th, 2007Contracting volatility and sellers being rejected from holding ground below the 1.6550 area several days in a row.
Something has to give and my money is on the bulls. Let’s see if the the bears are still as committed with a break above the 1.6610 area.
Tags: dollar, forex, forex news, forex trading
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