tag:blogger.com,1999:blog-9619867460708609142011-08-02T03:01:07.736+08:00A Forex Trading and Learning Journal...Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comBlogger2701100tag:blogger.com,1999:blog-961986746070860914.post-42302677131826776142010-02-08T10:53:00.003+08:002010-02-08T10:58:00.648+08:00

Source : BBC News UKThe UK should be seen in the same category of countries as Greece and Spain, who are facing severe debt problems, a leading economist has said.Ex-IMF chief economist Simon Johnson, also described the G7 group of leading economies as "fundamentally useless". His comments to the BBC came as G7 finance ministers discussed the growing crisis in some Eurozone nations. Treasury

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-71568971647960544362010-02-02T16:54:00.003+08:002010-02-02T17:18:40.661+08:00

The current major trend for the GBP/USD is still bearish. However the high volume in yesterday's daily bullish candle could given a signal that the bearish run could come into halt or other scenario where it could send back the pair into the 1.6100 region.GBP/USD Daily ChartYesterday's low was 1.5849 which is in the support zone of a lower flag trendline. If the support at 1.5850 is still holding

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-51209747261558828022010-02-01T10:55:00.010+08:002010-02-01T20:01:31.682+08:00

I think there is opportunity for me to buy from the deep at the current price. Below is the details of the trade:Date : February 1stTime : 10.40 A.M. (GMT +8)Buy at : 1.5942Stop Loss : Tight at 20 pips (1%)Take profit : Currently set at 1.6015 (3.22%)GBP/USD 1H ChartThis will be my first trade of the day and I expect to take the loss if the price going further down and will still looking to buy

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-28674864531987182502010-02-01T00:09:00.007+08:002010-02-01T02:34:45.695+08:00

I still remember the early days when I was in Forex trading. I was practicing on demo account for almost 3 months and it's absolutely fabulous. The results was outstanding I can say. Then the ego cloud has covered my conscious clear mind. Not even a week on live trading I blew it. That was the time when a demo account hero turn to zero in live trading. I bet that a lot of traders out there has

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-29247712525513728932010-01-28T12:20:00.003+08:002010-01-28T12:22:15.512+08:00

I was away for the past several months but I am still into Forex trading. Since that I am now available, I will continue to post new updates into the blog and will focus more in Forex education, trading and psychology.

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-34187572749018824992009-07-29T13:51:00.000+08:002009-07-29T13:52:17.967+08:00

By Bob Willis July 29 (Bloomberg) -- Orders for U.S. durable goods probably fell in June for the first time in three months, reflecting auto-plant shutdowns, economists

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-5223960364015251262009-07-29T13:48:00.001+08:002009-07-29T13:50:01.502+08:00

By Lukanyo Mnyanda July 28 (Bloomberg) -- Currency-trading volumes may take years to recover after a plunge in risk appetite sparked by the global financial crisis drove away hedge funds and speculators, according to foreign-exchange

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-91047925047238381652009-06-25T20:06:00.001+08:002009-06-25T20:06:56.465+08:00

By Bo Nielsen and Ron Harui June 25 (Bloomberg) -- The yen fell the most in three weeks against the euro after

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-87299533034952208832009-06-25T20:05:00.000+08:002009-06-25T20:06:03.899+08:00

By Gavin Finch June 25 (Bloomberg) -- The Swiss franc weakened for a second day against the euro and the dollar on speculation the nation’s central bank stepped up sales of its currency to stem gains that are hindering exports. The franc slid as much as 0.5 percent versus the euro and 0.3 percent compared with the dollar. Swiss National bank

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-52129500889995106132009-06-25T20:04:00.000+08:002009-06-25T20:05:09.561+08:00

By Matthew Brown June 25 (Bloomberg) -- The pound dropped against the dollar and the euro as stock markets declined and central bank Governor Mervyn King said the U.K. economic recovery will be slow. The British currency also fell versus the Swiss franc and the Australian dollar as the FTSE 100 Index of U.K. shares slipped as much as 0.6 percent

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-13552451307193756462009-06-18T00:46:00.000+08:002009-06-18T00:47:45.998+08:00

By Ye Xie and Oliver Biggadike June 17 (Bloomberg) -- The dollar dropped to the lowest level versus the yen in two weeks as slower-than-forecast monthly inflation in May led traders to reduce bets the Federal Reserve will boost the target lending rate. The U.S. currency weakened after a Labor Department report showed consumer prices had the

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-55901769233125160232009-06-18T00:43:00.000+08:002009-06-18T00:44:43.289+08:00

By Gavin Finch June 17 (Bloomberg) -- The pound dropped by the most in almost two weeks against the euro as stocks retreated and minutes showed Bank of England policy makers voted unanimously to continue their asset-purchasing program. The British currency also slid versus the dollar after a government report showed claims for U.K. jobless

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-78941236858645216512009-06-10T00:12:00.000+08:002009-06-10T00:14:03.002+08:00

By Anna Rascouet June 9 (Bloomberg) -- The pound climbed to its highest level in almost a week against the dollar after the Royal Institution of Chartered Surveyors said the U.K. housing market is “stabilizing,” stoking optimism the

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-72552877794270046672009-06-09T23:51:00.005+08:002009-06-10T00:08:51.603+08:00

Time: 11.50 p.m. (GMT +8)Looks like the earlier bearish moves on Monday is just a test of the lower trendline support as seen in the below attachment. During the test of the LTL, there is also a bullish divergence in the 1h time frame and looks it has been in play since the price touched the LTL.GBP/USD 4H ChartThe pir also has broken the 2 resistance level during the bullish moves and currently

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-34263168164586803562009-06-08T00:50:00.005+08:002009-06-08T01:29:51.276+08:00

In my previous analysis, I have expected a bearish week as we were approaching the weekly 50 EMA and 62 EMA plus a Fibonacci retracement of 38.2% is just about in the same range. Even managed to penetrate slightly above which in my observation, it is just a bullish trap for those who were optimistic buying the currency at that price range.GBP/USD Weekly ChartSo, enough for last week and let's see

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-26555304543315856202009-06-01T21:01:00.005+08:002009-06-01T21:30:14.258+08:00

Let's take a look at the pair movements for today. If we look at the weekly chart, the pair is currently testing the 62Ema as resistance and if it holds, then we might see a reverse back to the weekly support which is in the 1.6060 range. However the key level for the pair to get past in the chart would still be further ahead which is the 100EMA which represent the trend for weekly chart.GBP/USD

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-73830066558148720112009-06-01T20:16:00.004+08:002009-06-01T20:49:52.630+08:00

Don't get too excited about some recent brighter economic news IT HAS been a cheerful couple of days for those starved of bright economic news. Hopeful statistics have been trickling in from many parts of the world. On Friday May 29th revised first quarter GDP figures for America showed that the economy there had contracted slightly less than had earlier been reported. In addition durable-goods

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-29664302948447120642009-05-29T12:08:00.005+08:002009-05-29T12:35:21.843+08:00

GBP/USD Daily ChartThe chart we are looking at is the daily chart of GBP/USD. The pair has made a significant recovery and to be exact is about 38% since the drop from August 2008. The current trend is still bullish and we might see a further recovery to 50% of the Fibonacci which in the range of 1.6829.However, that is not the target for now. In order to go to that level, the least is for the

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-663464447315880512009-05-29T12:03:00.001+08:002009-05-29T12:03:47.840+08:00

In the currency market, traders buy and sell currencies with the hope of making a profit when the value of the currencies changes in their favor, whether from market news or events that take place around the world. Currencies, just like any other commodity that can be bought or sold, are subject to the laws of supply and demand. When more people want a particular currency, the cost

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-2859053109950581972009-04-06T08:35:00.000+08:002009-04-06T08:36:20.051+08:00

Without a doubt, trading is 90% psychological and 10% technique. Without the proper mindset and attitude, the best trading technique does not stand a chance against a mind that is uncertain, afraid or greedy. The wrong attitude, the lack of real confidence, will assert its influence on any given trade and distort reality, resulting in making bad decisions and costly

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-27159520521716613812009-03-23T01:56:00.001+08:002009-03-23T01:57:45.161+08:00

All traders are guilty of exiting a winning position too quick. We fear the loss of paper profits or perhaps we trade our P&L instead of our charts. Whatever the reason, holding on to a position requires discpline and most of all a set target in mind. Many new traders tend to exit a winning position too quick just to re-enter and end up chasing the markets. How can one prevent

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-52755452267810805932009-03-23T01:54:00.000+08:002009-03-23T01:55:18.933+08:00

Introduction The average trading account: up a little bit, then back down a little bit. Maybe a big gain here and there.Then down a lot. Maybe the entire account is lost. Trading — whether it’s forex, stocks, bonds, baseball cards or coffee beans — is largely a losing game for most people who try. Why is trading a one step forward,

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-21621271886902037582009-03-18T03:56:00.003+08:002009-03-18T04:05:27.617+08:00

Hi, recently I am unable to update much of my daily analysis and only doing it when I have a chance. I am currently busy doing some testing with few trading theories just to add some variables to my trading style.Looking at most of the majors currently is making a correction for the past few weeks ago and I don't think that we are going to see major reversal to the major trend yet. That is just

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-35465367969855913182009-03-16T15:35:00.001+08:002009-03-16T15:35:54.463+08:00

By Theresa Barraclough March 16 (Bloomberg) -- The yen fell for a third day against the dollar and the euro on speculation a Bank of Japan plan to buy government debt will spur investors to seek higher- yielding assets overseas.

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-38085707274469636202009-03-16T12:29:00.002+08:002009-03-16T12:32:01.721+08:00

Written by Brett N. Steenbarger Note: A version of this article first appeared on the Trading Markets site 9/5/06. One of the joys of blogging about trading is the opportunity to discover interesting people doing worthwhile research on the markets. Many times these researchers labor in relative obscurity, undiscovered

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-40154454414560476182009-03-16T11:54:00.003+08:002009-03-16T12:17:42.368+08:00

Time: 11.55 am (GMT +8)GBP/USD 4H ChartLooking at the chart above, we can see that the pair is currently bullish in minor trend while there are few key resistance to break and hold before the major trend can switch from current bearish to bullish. Based from the high and low from last week's movements, we can see that 1.4057 is the 76.4% Fibo retracement level and we should see the pair to retest

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-33031851389643572902009-03-09T13:29:00.002+08:002009-03-09T13:39:40.110+08:00

Time: 1.30pm (GMT +8)The cable is looking for further consolidation process before a new trend can be seen. The major trend will still be bearish but it looks like the pair has found some support in the 1.3984 range. In the big picture, it looks like a falling wedge is formed and looking at the pattern bias, it is suggesting that further consolidation before an upside breakout can be seen.GBP/USD

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-14039294659422365012009-03-09T13:08:00.002+08:002009-03-09T13:20:13.220+08:00

Time: 1.10pm (GMT +8)It looks like the pair bounce from 50% Fibo retracement level from the last 2 weeks movements. 1.2625 should be the immediate support for today with further drop suggesting to be at 1.2544 which is in last Friday's low. Breaking it will see a further drop for the pair.EUR/USD 4H ChartHowever, in my opinion that the pair will go for bullish movement maybe for earlier of this

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-10707377467680178242009-03-05T14:17:00.000+08:002009-03-05T14:18:45.802+08:00

By Ron Harui and Theresa Barraclough March 5 (Bloomberg) -- The euro

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-49989826724731848872009-03-04T06:33:00.003+08:002009-03-04T06:39:11.683+08:00

Time: 6.32am (GMT +8)EUR/USD 4H ChartThe pair is currently at a critical support line and also is moving in a bull flag which indicating for scaling consolidation. Breaking the support should see the pair to test 1.2434 range while fail will likely to see the pair to test the intraday resistance at 1.2611.The major trend will still favoring bearish but the pair is moving into sideway and a bit

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-25108661428293157552009-03-04T06:25:00.004+08:002009-03-04T06:39:35.860+08:00

Time: 6.30am (GMT +8)It looks like the pair has made a breakout from the range in since last 2 weeks. Looking at the chart, we can see that the broken support has been tested as a resistance and failed to break it and it is convincing that we will not see the previous range into play in the coming days.GBP/USD 4H ChartAs in my opinion, the pressure is currently to the downside with the first

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-45777108938252265572009-03-03T14:24:00.001+08:002009-03-03T14:24:55.445+08:00

Written by Brett N. Steenbarger Many traders spend considerable time figuring out when and how to enter the market, but put far less effort into determining exits and the amount of capital to risk on their trades. The hitting of your stop losses is triggering a sense of regret. That, in turn,

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-25096096032135803232009-03-03T14:07:00.000+08:002009-03-03T14:23:03.425+08:00

Written by DailyFX Research Team When it comes to the currency market, most traders will use either technical or fundamental analysis or a combination of both to formulate their strategy, However, even for the casual currency trader, news or event risk can have a dramatic influence on the long and short-term price action of a

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-6518585228832260382009-02-26T13:30:00.000+08:002009-02-26T13:32:06.049+08:00

By Meera Louis Feb. 25 (Bloomberg) -- European Union officials are concerned that the pound’s slide to a record low against the euro could destabilize the British economy, according to

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-44660731110294379232009-02-23T12:40:00.003+08:002009-02-23T12:46:56.571+08:00

Time: 12.40pm (GMT +8)EUR/USD 4H ChartThe pair has tested the 1.2544 support level last week and looks like it has made a huge bounce since knocking it. Current trading range will be in between 1.2880 to 1.3016. 1.2880 will turn into immediate support which it broke earlier today. Current outlook for the pair will be bullish with the possibility of testing the 1.3016 resistance range.Fail to test

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-42823749404011135692009-02-23T12:28:00.002+08:002009-02-23T12:35:34.634+08:00

Time: 12.30pm (GMT +8)GBP/USD 4H ChartLooks like the pair already make a breakout during the last day of trading. The break to the upside resistance at 1.4347 has now see the pair trading in the 1.4500 range. Continue to trade above 1.4516 will see the pair to push further up to 1.4627 resistance range. Expect a decent bounce at the resistance range beofre continue to move further up.The downside

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-8505912305548660942009-02-19T14:01:00.002+08:002009-02-19T14:09:36.747+08:00

Time: 2.03pm (GMT +8)GBP/USD 4H ChartThe pair is moving sideways and a bit choppy since Monday and currently still trading in a range. The immediate resistance is 1.4270 and the support is at 1.4156 range. A break of either support or resistance is crucial for setting the next trend for the pair.Both support and resistance need to be taken out solidly with at least a 4H candle can form with full

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-76823997372785511102009-02-19T13:53:00.002+08:002009-02-19T14:01:02.442+08:00

Time: 1.55pm (GMT +8)EUR/USD 4H ChartFrom the chart above, we can see that the pair manage to test the 1.2544 support range and bounce back up since touching it. However there is likely another test of the support and maybe to break it. Breaking the support will see the pair to move towards 1.2333 low.1.2620 will be the immediate resistance and 1.2677 will be the key short term resistance for

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-53287278713353581112009-02-17T14:19:00.002+08:002009-02-17T14:23:15.355+08:00

Time: 2.20pm (GMT +8)Currently I have no new analysis for GBP/USD and also EUR/USD for today. I still stick to my previous analysis as I see there are no difference in the market since yesterday. However I will update if there are any changes in both pairs movements.Previous Analysis :EUR/USDGBP/USD

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-45861624953620526092009-02-16T12:50:00.004+08:002009-02-16T13:06:08.731+08:00

Time: 12.55 (GMT +8)GBP/USD 4H ChartLooking at the above chart, looks like the pair has made a breakout from the triangle TL and currently heading south. It can also be confirm the bearish movement with the candle formation. The first target if the pair going down will be 1.2677. Trading below it will see 1.2540 as the trading ground. However need to watch for a pullback into the triangle

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-60666714795438270822009-02-16T12:24:00.003+08:002009-02-16T12:41:33.305+08:00

Time: 12.26pm (GMT +8)GBP/USD 4H ChartLooking at the chart above, last week bottom was at 1.4135 which is also passing through my initial bearish continuation target. However a pullback into the retracement zone during Friday and since looks like the bearish run is making a retracement as it reversed since spike slightly through the 50% Fibo retracement level (green dotted) at 1.4559.A gap during

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-8623049726405138802009-02-12T16:41:00.003+08:002009-02-12T16:55:45.881+08:00

Time: 4.41pm (GMT +8)GBP/USD 4H ChartLooks like a rally to me since the UK session opens for trading. I manage to fill in few orders and close it. This might be my last update for today as I am done with my daily target.Okay, the pair is currently trading below the key Fibonacci support at 76.4% which is 1.4270. I believe we could see a re-test of 1.4270 soon before continue for more downside

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-58080080077410368172009-02-12T14:13:00.003+08:002009-02-12T14:23:21.581+08:00

Time: 2.15pm (GMT +8)EUR/USD 4H ChartThe pair is not making any major movement yet this week. Maybe today's news would provide some kick to it. From the technical point of view, the current outlook for the pair will be neutral. 1.2880 is the support to break for further downside moves and breaking the short term resistance TL (purple) for further consolidation process which could be limited to

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-13124761159962082792009-02-12T13:39:00.003+08:002009-02-12T13:47:31.321+08:00

Time: 1.40pm (GMT +8)GBP/USD 4H ChartBased from the chart above, looks like there is not much different from my previous analysis and I am still waiting for the pair next moves for either bullish or bearish continuation. The immediate support currently is 1.4350 with key support for bearish continuation since rise from low at 1.4050 to high at 1.4983 will be 1.4270. Trading solidly below the

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-43509443781536348962009-02-12T00:30:00.004+08:002009-02-12T00:43:26.189+08:00

Time: 12.30pm (GMT +8)GBP/USD 4H ChartThis is the only pair that I'm trading today using yesterday's analysis as my guide. Currently the pair is still moving in a bearish retracment mode with further Fibonacci support level to break before a continuation can be confirm.The support which I will monitor closely before making any assumption regarding the pair's movement will be 1.4270 which there is

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-89961332694150697952009-02-11T12:22:00.003+08:002009-02-11T12:32:13.613+08:00

Time: 12.28pm (GMT +8)GBP/USDSince that there is not much different from the current time since my last update, I think I will stick to my previous analysis on the pair and trade according to it. The pair is in bearish retracement and maybe few drops to test support before a bullish continuation is the current idea.However, there is also a probability for a bearish continuation thus giving a

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-3779861497955971262009-02-11T03:09:00.001+08:002009-02-11T03:12:58.148+08:00

By Rebecca Christie

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-46726401752010721922009-02-11T02:59:00.002+08:002009-02-11T03:07:40.103+08:00

Time: 3.00am (GMT +8)GBP/USD 4H ChartThe chart above shows that the short term trend for the pair is still bullish and the drop is just a bearish retracement. However, a drop below 1.4270 will indicate that the pair is moving into bearish continuation. The first target for the continuation would be in the range of 1.4050 support.However if 1.4270 holds as support then a bullish continuation will

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By Ye Xie and Molly Seltzer Feb. 10 (Bloomberg) -- The dollar and the

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Time: 2.48am (GMT +8)EUR/USD 4H ChartLooking at the chart above, it like riding on a roller coaster ride for the pair. Going down for a while then back up to the high and now going back to the low. Basically from my point of view, the pair need to trade below 1.2880 solidly to flip intraday bias to the bear. Which mean we need at least a solid 4H candle to form below the support with stronger

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Time: 12.11pm (GMT +8)Looking at the candle formation in the chart below, i believe that yesterday's candle can be considered as a reversal sign but a weak one. A bearish day today will just confirm the reversal sign.GBP/USD Daily ChartYesterday's high as I predicted was 1.4974 and yes the pair managed to reach the resistance level and making a turn back down since failed to break it. It is also

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Time: 11.45am (GMT +8)Looking at the daily chart below, we can see that there is a reversal sign formed after the US session and today movement likely to confirm the reversal. This should see the pair to look for more support below 1.2700 range with likely the target is the lower support TL (blue). Currently the pair is trading below 1.28880 which is the support and resistance which separate the

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Time: 1.50pm (GMT +8)EUR/USD 4H ChartThe main trend for the pair will still be bearish. Currently the Pair is testing the resistance TL (red) at the 1.2935 to 1.2988 range. Even Friday closing pretty much offset the losses during last week, there is high probability of a further drop which yet to be completed.If the current resistance TL fails to hold, then the pair might have a chance to re-test

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Time: 1.15pm (GMT +8)GBP/USD 4H ChartLooking at the chart above, the pair is currently moving in a channel which could also be a bear flag. At the moment, the major trend is still bearish. However last week closing suggest that we might re-visiting the 1.5000 range in the coming days or weeks.The pair is currently at the channel resistance TL and a bounce from the TL since touching it earlier

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By Matthew Brown Feb. 5 (Bloomberg) -- The euro may fall as low as $1.15 as the European Central Bank resists cutting interest rates as deeply as necessary to revive the economy, according to RBS Greenwich Capital Markets. “The market is rewarding currencies in the near term whose central banks are promoting a pro-growth policy,” Dustin Reid,

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Feb. 4 (Bloomberg) -- The pound fell against the dollar after a report showed the U.K. services industry contracted in January for a ninth straight month as the economic slump deepened. The British currency also dropped versus the yen after the National Institute of Economic and Social Research said the economy will stay mired in a recession until the fourth quarter. The Bank of

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Time: 8.47 (GMT +8)AUD/USD 4H ChartYesterday's rise from 0.6360 was a bullish retracement with and the reverse back to bearish continuation is confirm when it had touch 0.6546 which is the 62.8% Fibo retracement level. However further bearish continuation will be confirm if the pair manage to break 0.6360 support level which is the 23.6% Fibo level and also yesterday low's range. Trading below

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Time: 8.36pm (GMT +8)GBP/USD 4H ChartCurrently I am neutral on the pair as it looks like not going either south or north. We need the pair to break the current range at 1.4496 high to 1.4370 low. In order for confirmation of the breakout, a solid candle forming above or below both support and resistance is favorable.I am still favor for more bearish movements until 1.4575 breaks. Let's see if the

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Time: 8.30pm (GMT +8)EUR/USD 4H ChartLooking at the above chart, The retracement sinceyesterday was completed at the 50% Fibo retracement level and now it is resuming the bearish movement. However for a confirmation for the bearish continuation, the pair need to trade below 1.2853 solidly. If the support gives way, then we could see a test of low at 1.2706 to 1.2677 support range.Currently I am

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-3758897958159464512009-02-04T14:13:00.003+08:002009-02-04T14:21:19.420+08:00

Time: 2.13pm (GMT +8)USD/CHF Daily ChartLooking at the daily chart above, the pair is still in favor to make further downside moves. Currently the downside target will be 1.1309 to 1.1280 support range with breaking solidly both support will see deeper drop for the pair to trade in the 1.1150 range.The upside target will be limited to 1.1532 which is the the 50% retracement from yesterday's drop.

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Time: 1.53pm (GMT +8)GBP/USD 4H ChartLooking at the chart above, I have two opinion about the current situation. First will be the drop from 1.4907 is not yet complete with the 76.4% Fibo level will be the key turning point before further drop can be confirm. The other opinion is that the drop from the previous rise is still not getting to the top yet and recent drop earlier of the week is just a

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Time: 1.37pm (GMT +8)EUR/USD 4H ChartLooks like the pair still in the retracement zone since the drop from 1.3328 to 1.2706. Currently it is trading right at the 50% Fibo level at 1.3017. If the current resistance 1.3017 fails to hold and also the pair starts to trade above the resistance line, then we could see a rise to 1.3090 which is also the 61.8% Fibo level. Second target for the upside

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Time: 1.06pm (GMT +8)AUD/USD 4H ChartThe pair is currently in a bearish continuation zone. As long as 0.6417 still holds as resistance, we see the pair to visit the recent low soon and maybe to touch 0.6221 later today or in the few days to come. If the resistance breaks, then we might see the pair to make a bullish retracement with 0.6490 to be the first target and further high at 0.6536.The

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Time: 12.44pm (GMT +8)EUR/USD 4H ChartLooking at the chart above there are 2 possibilities that should be consider before finalizing my trade. There would be a bearish continuation and also a bullish retracement. The major trend will still be bearish. Currently 1.2898 will be the immediate resistance to break before we can confirm the bullish retracement run for last week's drop.Currently the

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Time: 12.25pm (GMT +8)GBP/USD 4H ChartLooking at the chart above, I really think that the pair is currently gaining momentum for a bearish continuation. However noted that we need to break few minor support and also key level of the Fibonacci retracement. If the pair is making a correction for last week's movements, I might say that it is already in a bearish retracement zone when it passed

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Time: 11.38 am (GMT +8)AUD/USD 4H ChartThe pair looks like in strong bearish continuation mode currently. It has break the previous low and looks like the next target for the pair will be 0.6156.The upside target will now be limited to 0.6417.I will look for pullback before deciding to place any entry on this pair.

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Time: 11.24am (GMT +8)GBP/USD 4H Chart1.4370 is the immediate support now which is the 61.8% Fibo retracment level since the last drop for last week rise. However the crucial level for the retracement for the pair will be 76.4% Fibo retracement level. Trading above it I might say a medium term trend is switch from bearish to bullish. If the trend change, than the first target for the upside will

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-21439552891085962852009-02-02T11:16:00.004+08:002009-02-02T12:22:01.536+08:00

Time: 11.17am (GMT +8)EUR/USD 4H ChartLooking at the picture above, I believe 1.2679 is the first downside target. Trading below it would be a good place to short with the first target is the support TL(brown) around 1.2416 support range which is the 161.8% Fibo retracement level for the last rise to 1.3329 before last week drop.Fail to to break 1.2579 then we might see the 1.2880 resistance

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-51851828305362949612009-01-29T17:15:00.000+08:002009-01-29T17:16:15.593+08:00

Jan. 29 (Bloomberg) -- The U.S. House passed President Barack Obama’s $819 billion stimulus package without any Republican votes as lawmakers remained divided over whether the plan would do enough to pull the economy out of recession. The 244 to 188 vote yesterday sends the measure to the Senate, where Republicans will have more power to demand changes. They are calling for more tax

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Jan. 28 (Bloomberg) -- Billionaire investor George Soros, who made $1 billion selling the pound in 1992, said he is no longer betting against the U.K. currency after it reached $1.40. “I did actually foresee the fall in sterling and that was one of the positions we carried,” he told reporters at the World Economic Forum in Davos, Switzerland. Below $1.40 “it seemed to me the

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(CEP News) - Despite the Federal Open Market Committee's expected hold on rates, the U.S. dollar rallied sharply following the release of the accompanying statement.The Federal Reserve's monetary policy board left the key interest rate unchanged, as expected, within a target range from zero to 0.25% on Wednesday. However, the committee noted that aside from current significant downside risks, a "

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Time: 3.50pm (GMT +8)AUD/USD 4H ChartLooking at the above chart, I believe if the pair manage to break 0.6515 support, then we should see a deeper low which is 0.6153 support range in the coming days or week. However, 0.6355 should provide some decent support for the bearish moves.AUD/USD 4H ChartIf the support at 0.6515 and also 0.6490 being taken out, then the swing drop will definitely going

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Time: 3.28pm (GMT +8)USD/CHF 4H ChartLooking at the chart above, we can see that the recent drop manage to break the minor bullish TL but failed to break the 50% Fibo retracement level since the last drop from 1.2250 to 1.0368 and making a pullback into the bullish TL.The medium term will still be bullish and the current movement will see testing high at 1.1668 with further target will be 1.1806

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Time: 3.20pm (GMT +8)EUR/USD 4H ChartThe chart above showing a double top formation at the 1.3329 range. A reversal pattern emerged at the second top and passing 23.6% Fibo retracement level confirms further drop is in sight. Currently the price is at 1.3047 which should be the first drop target with second at 1.2980.However if the pair manage to break 1.2898 then we would see a deeper low with

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Time: 3.10pm (GMT +8)GBP/USD 4H ChartLooking at the chart above, we can see that the last swing high is at 1.4373 and a reversal pattern emerged since touching it. After passing the 23.6% Fibo retracement level, then I can say that it is confirm this will be a retracement with the first target of the drop will be 1.3937. Second target is 1.3822.However if the drop continue to break 1.3706, then I

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-26756436795186750182009-01-29T02:33:00.002+08:002009-01-29T02:36:41.306+08:00

Sorry for not updating my blog for 28th January market analysis. I am actually taking a "special" day off. However I do managed to get few trades earlier of the day. I will resume my daily market analysis tomorrow.Have a nice day and Happy Trading~!

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Time: 5.30pm (GMT +8)USD/CHF 1H ChartThe pair is moving way deep passing my initial target for yesterday. Currently the pair is lying on the 50% Fibo retracement level and if fail to make a recovery to above 1.1531, then I am sure that the pair is in bearish continuation mode after failed to gain momentum to break the retracement resistance at 1.1806.However, I believe a retracement is coming for

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Time: 5.20pm (GMT +8)GBP/USD 1H ChartLooking at the current movement of the pair, I still believe it is still in bullish retracement mode until it is trading above 1.4420 major retracement resistance. However looking at the current look, it is ideal to say that the pair is testing the broken support TL as a resistance and also it is confluence with the 50% Fiboe retracement level at 1.4241.I

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Time: 201pm (GMT +8)EUR/USD 4H ChartLooks like the pair is testing the channel resistance TL. Looking at the current situation, it should be either a break or reverse to the downside back. 1.3322 is the first target for the pair if it has to break the TL. Trading solidly above 1.3322 will see the next target would be 1.3745 to 1.3841 resistance range which is the bullish and also bearish

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Time: 2.15am (GMT +8)EUR/USD 1H ChartIts late night now at my place but can't sleep yet. Luckily I found an opportunity on EUR/USD. Let's see if the result can get me well to bed.After testing the 1.3207 resistance, looks like it has lost momentum to break it. Since that the pair rise for 6 hours without a retrace, my opinion suggest that the resistance would provide a good point or the pair to

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-74697414780522935112009-01-26T21:23:00.001+08:002009-01-26T21:26:47.102+08:00

Just a quick update for my pending sell order for EUR/USD. It had been triggered and looking just for a small TP of 25.EUR/USD 1H ChartAt the time I wrote this, it has already been closed with profit for 25. I think I'm done for today with the recent trade closed, I have bag in slightly more than my daily target. Good luck and have a good trading day~!

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Jan. 26 (Bloomberg) -- Sales of existing homes in the U.S. probably fell in December to the lowest level on record as rising unemployment and stricter lending rules kept buyers away, economists said before reports today. Purchases dropped 2 percent to an annual pace of 4.4 million, the fewest since records began in 1999, according to the median estimate of economists surveyed by

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Time: 8.51pm (GMT +8)Looks like the bullish retracement is on sight now after a hard drop during market opening. As in my previous analysis, I would still be looking for the pair to trade as high as 1.4204 which is the 50% Fibo retracement level from last week's huge drop. Apart from that a test to the broken support TL as resistance would be the alternative idea.GBP/USD 4H ChartHowever, I am

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-52954787702152910052009-01-26T20:37:00.004+08:002009-01-26T20:48:03.818+08:00

Time: 8.40pm (GMT +8)USD/CHF 1H ChartLooking at the chart above, looks like the pair will be making further downside moves with the first target would be testing the 61.8% Fiboe retracement level at 1.1531. Further downside target if the pair manage to break the first target support would be 1.1488 support level which is the Daily S1 and also the Weekly Pivot are in place.USD/CHF 1H ChartHowever,

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-10768638995286947462009-01-26T20:19:00.004+08:002009-01-26T20:35:38.167+08:00

Time : 8.24pm (GMT +8)The pair is on a bullish run. However it could be limited to the current high at 89.40 and a break above the resistance is crucial for further upside moves. The first target would be Daily R1 which is at 89.63. Manage to break it then 90.00 resistance will be the next target.USD/JPY 1H ChartFailure to gain momentum to break 89.40 will see the pair to drop back to the Pivot

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-54302180475946859332009-01-26T20:02:00.005+08:002009-01-26T20:14:48.189+08:00

Time : 8.03pm (GMT +8)EUR/USD 1H ChartLooking at the 1H cahrt above, the pair is currently testing the minor resistance at 1.2965. If the pair manage to break it and at least a 1H candle can form solidly above it, then we could see a 1.3025 resistance testing.EUR/USD 1H ChartAs the pair trading above the daily pivot line, the daily trend is now bias to buy. However, another look to it, apart from

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-14046790204269323572009-01-26T12:44:00.002+08:002009-01-26T12:47:25.600+08:00

Jan. 26 (Bloomberg) -- The euro declined for a third day versus the dollar on speculation business sentiment in Germany slumped as credit losses spread through Europe, fueling expectations the European Central Bank will lower interest rates. The British pound approached a 23-year low versus the greenback on speculation the Bank of England will cut interest rates to zero. The yen

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-29223023971994857522009-01-26T04:09:00.009+08:002009-01-26T05:11:46.812+08:00

The pair is one of the star for last week's drop. Creating another low at 1.3500 and making a decent rebound at the end of the week.GBP/USD Weekly ChartLooking at the weekly candle closing from last week, I am still be bias to the bear as the closing is a convincing bearish. After all, it also managed to close solidly and deeper from the descending support TL (blue) which holding the pair for few

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-16353157072326470712009-01-26T03:55:00.003+08:002009-01-26T04:08:53.023+08:00

Current outlook for the pair will be suggesting that the pair is in bullish continuation since the drop from 0.9803 high to 0.8837 low which is also 61.8% Fibo retracement level from the start of the huge rally up at 0.8240.EUR/GBP Daily ChartHowever, I believe that in order for the pair to set the trend for the coming week, then it should make a breakout either from 0.9434 resistance level or

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-50586679105619519852009-01-26T03:32:00.003+08:002009-01-26T03:53:39.604+08:00

After a huge drop on Monday and Tuesday last week, the pair haws been moving into sideway towards the end of the week. As long as 0.6480 still holding as support, this should prevent further drop for the pair. However, in order for the pair to gain more on the upside, then 0.6630 resistance should be taken out seriously before we can see a medium term trend to flip to bullish.AUD/USD Daily

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-44754698643459108772009-01-26T03:10:00.004+08:002009-01-26T03:29:44.959+08:00

USD/CHF Daily ChartFirst I would like to focus on the daily candle for this pair. Looking at the last candle, we can see that it is one of a reversal sign but it is still weak and it is still above the support of 61.8% Fibo retracement level taken from previous month high and low. Except for the monthly chart, the pair is trading below all major EMAs' which indicating that it has already building

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-65109588014926166732009-01-26T02:20:00.003+08:002009-01-26T02:44:21.632+08:00

The pair has been choppy during middle towards the end of the week. The monthly outlook will still be bearish for this pair however 87.10 support is holding very well. There is also a rumor that the Japanese will intervene in the market if the pair dropping below 87.00 level. That is just a rumor, but I would prefer to just stick to the technical view.USD/JPY Monthly ChartMy pick will still be

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-82937952351554446732009-01-26T01:02:00.005+08:002009-01-26T02:20:33.321+08:00

EUR/USD Daily ChartLooking at the chart above, the last daily candle is a sign for a reversal. However, notice that the two candle before the last one, even it is bullish, it can't get through 1.3080 resistance. Initially, I am looking forward for the pair to re-test again the resistance before we can have confirmation on how the general trend for next week.So, the minor resistance to break for

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-74619298827247737582009-01-25T15:43:00.002+08:002009-01-25T16:51:36.084+08:00

Last week we saw most of the majors are moving nicely earlier of the week with highlight of the week was GBP/USD creating another low at 1.3500. From the current outlook, the UK economy looks like going to go further deep with latest economic data vanishing hope for a sign of slight recovery.However, from my observations, the most gain among all the currencies will be the USD and also JPY

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-18611592616320224462009-01-23T18:31:00.004+08:002009-01-23T18:48:23.103+08:00

Time: 6.35pm (GMT +8)Looking at the pair at glance, it is likely for another new low and even deeper to be created. Currently the pair is moving solidly below the major bearish support TL (blue) after a pullback after breaking it initially.GBP/JPY 1H ChartFrom my technical point of view, there are 2 possible range that the pair to test low which is 117.42 and also 115.67 support range. Both

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-65083683111232376812009-01-23T18:24:00.003+08:002009-01-24T23:59:43.494+08:00

Time: 6.25 pm (GMT +8)USD/JPY 4H ChartAfter testing the 87.10 support, the pair has made a huge rebound pushing it back to the 88.90 resistance range, Currently the pair needs to trade below 88.15 then we could see another test of the low at the 87.10/15 support range.88.90 will turn into immediate resistance and if any rebound today will see the resistance as a top. As long as the pair remain

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-5621560874819040362009-01-23T18:20:00.002+08:002009-01-23T18:24:50.500+08:00

Time: 6.21pm (GMT +8)AUD/USD 4H ChartCurrently I believe the pair is still looking for a solid support before a bounce to the upside. At the current outlook, the downside target will be 0.6354 which is the 76.4% Fibo retracement level and also confluence with the diagonal support TL (blue).The upside target will be the diagonal resistance TL (red) which will be the immediate resistance. However

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-84009233390655084362009-01-23T18:14:00.002+08:002009-01-23T18:20:12.219+08:00

Time: 6.15pm (GMT +8)USD/CHF 4H ChartThe current outlook will be the pair to test 1.1761 as resistance for the rest of trading hours left and could be earlier of next week. Breaking the resistance will make way to as high as 1.2053. That will be a long term bullish continuation target. As long as the pair remain in the channel, then the bias will remain to be bullish.However, breaking the LTL of

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-58638091758413280492009-01-23T18:09:00.004+08:002009-01-24T16:16:55.146+08:00

Time: 6.10pm (GMT +8)EUR/USD 4H ChartCurrently the pair is making a bearish continuation for the short term unless it can manage to trade solidly below the long term bearish TL (brown). Current look will be the pair to test the long term bearish TL and also the lower TL of the channel. We should see a downside target at 1.2677 if the current candle can close and start trading below the 1.2800

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.comtag:blogger.com,1999:blog-961986746070860914.post-19790681066392654552009-01-23T18:04:00.002+08:002009-01-23T18:09:27.252+08:00

Time: 6.05pm (GMT +8)GBP/USD 4H ChartCurrently the pair has break out from the range play and heading nicely towards 1.3500. Looking at the current situation, the next coming weeks we should see 1.2800 range if the week closing stays below 1.3500.The upside moves will now be limited to 1.3825 as minor short term resistance. Downside target for today should be around 1.3367 if 1.3500 can give a

Daddyhttp://www.blogger.com/profile/02177389986004868834noreply@blogger.com