Morning Notes
Good morning all
Overall a good day yesterday with CABLE and EURUSD shorts. I closed the 3rd part of my EURUSD at 1.3150 and then the final part as it came back above the 1.3205 level using rolling stops. (50 point rule) I closed CABLE as it came back above the 1.4505 level using rolling stops. (50 point rule)
OIL – Inventories today so we need to be careful with this. The price is back above the 4hr 20ma so should remain supported. Won’t be looking for any long plays until we break the Weekly Pivot at $46.50. If OIL price weakens with inventories out at 3.30pm look for selling opportunities below the DP at $43.00.
GOLD - $814.00 held yesterday. Boxed in between the 60min 50ma and 20ma. Look for break of these for direction. We are above the DP at $822.00 and 60min 20ma and if triggers come in line look for bounce off the 60min 20ma around the $823.00 level. Be aware of the 4hour 20ma above.
EURUSD – As mentioned I am flat now. It needed a pullback to be honest after falling so far. Price is boxed in between the 60min 20ma and 50ma. Look for bounce off the 60min 20ma with triggers. Again be aware of the 4hr 20ma but as long as the price stays above the 60min 20ma then the retracement should be on.
CABLE – Large gap back to the 4hr 20ma. Price is now holding the 60min 20ma. I still like GBP weaker but understand retracements need to take place. Wait for 15min triggers to line up. Any break below the 60min 20ma would mean that the retracement is short lived and further weakness would take place. This am looks good for a retracement.
USDCAD – The retracement is on. A break below the 4hr 20ma would signal a further move south. Look for break below the 1.2090 level.
EURGBP – Boxed in between the 60min 50ma and 20ma. Look for break. Downside break is 0.9040 and upside 0.9150. be aware of the MP at 0.9205 and a clear break of this would signal a solid move higher.
Have fun
Dan
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Good Morning all.
Another good day yesterday with GBPCHF hitting all 3 targets, the final one netting a solid 250 pips down at 162.30
Looks like the reversals on the Yens that I thought would come yesterday are starting to take shape so lets have a closer look.
USDJPY-Looks like there is room to the 60m 20ema up at 90.00 IF the 89.50 holds. Will be waiting for 15m chart trigger to come in for this one for a few pips.
GBPJPY-Same with this pair. Just waiting for some 15m green then we can look to play this to the 60m 50sma up at 132.00 for 100pips.
EURJPY-The strongest looking Yen pair, having already crossed the 60m 20&50. Look for trigger on 15m and play to 4hr 20ema at 120.30, again 100 pips possible.
USDCHF-Looking weak through the 4hr 20ema. A break of 1.1125 might well see this lower but some obstacles in the way in the shape of a big fat monthly pivot.
GBPCHF-Nowhere to run with this pair for me today so far. Might be a little room between daily pivot at 1.6335 and weekly pivot at 1.6450. Look for possible 123 on 5m chart with GBPJPY confirming.
EURCHF- I am already in this from 1.4800, having seen the 123 through the 60m 20ema. Targeting 1.4875 area, which is WS1 and 60m 50sma.
To summarize… The Yen pairs are looking more favourite for me if they can hold current levels and turn green on 15m charts. Let the 7CCI trigger guide you in with stops below the last reds.
Have a geat day.
Zak
, I'm impressed, and this was only in the afternoon session. I came in too late for the am session as I was working night shift yesterday.
