Morning all
Morning All…Notes from the live room below...Its been a messy day and i got USDCAD and EURGBP totally wrong. Stupidly tried to pre empt the break...I got caught out in AUDUSD so wasnt a particularly very gd start for me. Very tough to be honest and a lot of teasing setups so very easy to get caught out.
Made pips on short in USDJPY (still in) and GBPJPY (100p) and OIL (100p). Got out for flat in EURJPY and GBPCHF...
I have found it difficult today but onwards and upwards as they say. Its non farm at 1.30pm so conditions have been strange.
Dan
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OIL – Boxed in between the 4hr 50ma and 20ma. Look for break of either MA. Support at $43.50
GOLD – Found support off the 60min 20ma. Not looking for a long unless it breaks above the 4hr 50ma. However if it weakens this am watch the break of the 60min 20ma and 50ma at $851.00 for a move towards the WS2 at $843.00.
AUDUSD – Boxed between the 4hr 20ma and 50ma. Look to play break. Support at WP at 0.7050 and top side resistance at 0.7125.
EURUSD – Order still set below the WS2 at 1.3510. Boxed between the 60min 20ma and 50ma. Look for break. A break of the 50ma at the 1.3625 would signal a push towards the WS2 level.
CABLE – Has had a strong run and 4hr ma´s look a little overbought. 15min chart shows a little strength as its above the 60min 20ma and DP at 1.5190. A 123 with trigger could see a push to old high but I have my reservations how high this go. A break below previous low at 1.5160 would see a pullback to the 60min 50ma.
USDCAD – A solid retracement back to the 60min 20ma. A break below the 15min 50ma around the WS2 1.1820 level would signal a further move south. No long play unless we see a break above the DP and 4hr 20ma around the 1.1900 level.
Happy pipping!!!
Dan
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USDJPY-Finding the Daily pivot and Weekly pivot quite hard to penetrate down at the 91.00 level. Hasn’t found much in the way of support off the daily 20ema at 91.50 so likely to continue its hasty retreat IF breaking the 91.00 number.
GBPJPY-Has been trickling along the 4hr 20ema for a whole day (see 5m chart). Not likely to progress in a notherly fashion unless the 60m 20&50 are broken, circa 139.50 and looks far more interesting south IF that 4hr 20ema can succumb to so downward pressure.
EURJPY-A few of you managed to ’steal’ 50-100 on this one yesterday with a naughty richochet off the 60m 20ema. Very nicely played!It actually looks like this could continue down, but with the daily 50sma looming just below this will be a tricky area in which to trade with all the indecision the will be present in this region. A break of 124.40 could see this take on that lower region.
USDCHF-Boxed between the 60m 20&50 and still looking threatening to 10800 but a possible double bottom and no significant fresh lows yesterday tells me to tread with caution. 5m chart looks like a cheeky short for a few pips to 10900.
EURCHF-Looks like it’s found some temporary support on 5m and might be an indication of CHF weakness all-round for the time-being. Can’t really go long into the pivot and MA’s. Look elsewhere unless it breaks 14350 to the downside
GBPCHF-I quite liked this to the upside this morning. Waiting for 5m 1-2-3 to show the way and decided it might not be the way forward. After getting burnt a bit on this pair yesterday I am leaving this alone for now.Must see USDCHF steady above 10930 and cable to make some headway to confirm
Summary-A little vague this session, sadly.My main pick would have to be USDJPY IF it breaks 91.00. There is a lot of downside potential with the daily 20ema not holding so I will be looking to place a sell order at 90.90 with a stop at 91.55, targeting 87.00 for a slightly longer-term-play!!! EURCHF through 14950 would be a little alternative.
Zak
