Daily Fx Views
Eur still holding the range of 1.5750 and 1.5640...... still very rangish.
However, holding to our weekly views (see below) I recommend selling arnd 1.5730/50 stop 1.5790 with target of 1.5670/40
French and Italian IP due today
Gbp/Usd....... once again breaked into previous range of 1.9850 and 1.9700. I dont see it going above 19850/75 hence i recommend selling arnd 1.9830/50 stop 1.9880 with target of 1.9750/25....cld buy arnd these lvls......
Bank of England Int Rate decision today...... need to watch out for their focus on Inflation and/or Growth..... no change expected on interest rates....
Usd Jpy ..... again holding... onto the lower end of the channel arnd 106.65/75...... I recommend buying around 106.80/90 stop 106.50 tgt of 107.40..... however convincing break of 106.50 would change our intra day views
Eur/Gbp again piercing back into previous range (flag) of 0.7950 and 0.7885 hence recommend selling arnd 0.7945 with stop of 0.7965
Note :Eur/Gbp very close to the last half of triangle formation........ hence my view that we could see euro/gbp breaking the range........
Have a good trading day!!!!
Wednesday, July 9, 2008
Tuesday, July 8, 2008
Daily Fx Views 09.07.08
Daily Fx Views:
Eur sell arnd 1.5680/90 stop 1.5725
Gbp buy arnd 1.9675/95 stop 1.9640
Jpy buy arnd 107.25/107.00 stop 106.75
Chf buy arnd 1.0300/1.0310 stop 1.0260
Have a gr8 trading day!!!!
Hitesh Bafna
Eur sell arnd 1.5680/90 stop 1.5725
Gbp buy arnd 1.9675/95 stop 1.9640
Jpy buy arnd 107.25/107.00 stop 106.75
Chf buy arnd 1.0300/1.0310 stop 1.0260
Have a gr8 trading day!!!!
Hitesh Bafna
Friday, July 4, 2008
Technical Fx (MAJORS) views for week - 7 July to 11 July 08
Eur/Usd
Eur/Usd was sold after not so hawkish comments by Trichet after the ECB rate hike on Thrus.
For this week I recommend selling Eur/Usd on any strength towards 1.5700/ 15730 with a stop of 1.5785/15800.
Eur/Usd seems to be in corrective leg of rally from 1.5340 - 1.5915 with retracement lvls of:
1.5695 (38.2%)
1.5626 (50%)
1.5560 (61.8%)
However any daily close below 1.5680 could lead the Eur penetrating into previous flag formation of 1.5680 and 1.5335.
NOTE: One important observation I made on quarterly Eur/Usd charts is a DOJI formation, that so after a rally of previous quarters. This mite signal a reversal in rally of Eur/Usd. Hence I have a long term bearish view on Eur/Usd unless it convincingly closes above 1.6000.
GBP/USD
A shooting star and bearish piercing pattern on Weekly charts.... making me bearish on this pair.
It has pierced into the previous flag formation of 1.9850 and 1.9700 thus i recommend sell on strengthning of the pair arnd 1.9850/1.9900 with stop of 1.9965. Only a convincing close above 2.0000 would make my view bullish
USD/JPY
Fail to make a reversal pattern of three blak crows on weekly charts. Also, was unable to close below importan support of 105.40 thus recommend buying of the pair around 105.70/106.00 with stop of 105.
I welcome your views and comments
Have a good trading week
Eur/Usd was sold after not so hawkish comments by Trichet after the ECB rate hike on Thrus.
For this week I recommend selling Eur/Usd on any strength towards 1.5700/ 15730 with a stop of 1.5785/15800.
Eur/Usd seems to be in corrective leg of rally from 1.5340 - 1.5915 with retracement lvls of:
1.5695 (38.2%)
1.5626 (50%)
1.5560 (61.8%)
However any daily close below 1.5680 could lead the Eur penetrating into previous flag formation of 1.5680 and 1.5335.
NOTE: One important observation I made on quarterly Eur/Usd charts is a DOJI formation, that so after a rally of previous quarters. This mite signal a reversal in rally of Eur/Usd. Hence I have a long term bearish view on Eur/Usd unless it convincingly closes above 1.6000.
GBP/USD
A shooting star and bearish piercing pattern on Weekly charts.... making me bearish on this pair.
It has pierced into the previous flag formation of 1.9850 and 1.9700 thus i recommend sell on strengthning of the pair arnd 1.9850/1.9900 with stop of 1.9965. Only a convincing close above 2.0000 would make my view bullish
USD/JPY
Fail to make a reversal pattern of three blak crows on weekly charts. Also, was unable to close below importan support of 105.40 thus recommend buying of the pair around 105.70/106.00 with stop of 105.
I welcome your views and comments
Have a good trading week
Saturday, April 26, 2008
A Few Quotes from my Life
A Few Quotes from my life:
Today we use people and love things which what actually has to be done is love ppl and use things.
Old shld be honour for the simple fact tht they have gone thru every phase of life and still survive.
Every misfortune carries with it a seed of an equivalent or greater benefit.
An Active mind is never afraid of new ideas or new condition.
The act of giving precedes to the act of receiving.
Those who can see the invisible can do the impossible.
Life, Love and Frienship are the greatest assets of our lives.
Treat ppl in such a way and live amngst thm in such a manner
tht whn u die, the weep over you and whn u are alive they crave for your company.
One of the secrets of happy life is continous small treats.
Find yourself and be your self.
Turn your egoism into kindness.
What lies behind us and wht lies ahead of us are tiny matter compared to wht lies within us.
The one thing we can never get enough is LOVE and the one thing we never give enough is LOVE.
AND LIFE IS WHAT WE MAKE IT, ALWAYS HAS BEEN, ALWAYS WILL BE.
Today we use people and love things which what actually has to be done is love ppl and use things.
Old shld be honour for the simple fact tht they have gone thru every phase of life and still survive.
Every misfortune carries with it a seed of an equivalent or greater benefit.
An Active mind is never afraid of new ideas or new condition.
The act of giving precedes to the act of receiving.
Those who can see the invisible can do the impossible.
Life, Love and Frienship are the greatest assets of our lives.
Treat ppl in such a way and live amngst thm in such a manner
tht whn u die, the weep over you and whn u are alive they crave for your company.
One of the secrets of happy life is continous small treats.
Find yourself and be your self.
Turn your egoism into kindness.
What lies behind us and wht lies ahead of us are tiny matter compared to wht lies within us.
The one thing we can never get enough is LOVE and the one thing we never give enough is LOVE.
AND LIFE IS WHAT WE MAKE IT, ALWAYS HAS BEEN, ALWAYS WILL BE.
Friday, April 18, 2008
I have learned that..........
I have learned that...........
what people say and do are different,
loving and caring is more beautiful than being loved and cared,
everybody in ourselves have atleast a small inspiration for others,
love your enemies; it makes them damn mad,
forgiveness is the best way to forgive,
prayer is a very powerful asset in our life,
keeping ppl together is a difficult task,
spreading love, laughter and care is the best way to make this world a better place to live in,
to be happy evryday is not to be happy at all,
there is always an exception,
dont grumble over a relationship,
truth and defeats are hard to digest,
by making more frnds you are spreading humanhood,
you should not repeat your mistakes,
you and only you have to face your problems,
ppl understand better with an example,
sitting lonely doesnt mean sitting idle,
you shld be a perfectionist,
all prayers shld nt be answered,
3 is a good number,
tears and sharing are the best way to relief ourselves from our problems,
what goes along wid you throughout your life is your shadow and your shadow over other ppl,
adjustment and sacrifices is a must in life,
gossips are never out of fashion,
u must have preservence in life,
life is a learning process.
I would like to take this opportunity to thank a lot of ppl in my life esp my wife PREEYA who has been a wonderful partner for whatever years we have spent together. I would like to thank my family for being a wonderful wonderful support because whatever im today..... im becoz of them...
I would like to thank Nitesh (my bro cum frnd) for being an excellent support to me......... sry for not being in touch wid him...... but ur just wonderful Nitesh.....
Moreover.... I wld like to thank my frnds Cherry, Vimlesh, Dilip, Hitesh takla, Mansi, Mayuri, Neha....... for all u have done..... miss u all and luv u all. Miss al the ol days..... :)
I miss my grandmom....... i luv u a lot grandma...........i miss u a lot :(---------
Thank u all and god bless u all
what people say and do are different,
loving and caring is more beautiful than being loved and cared,
everybody in ourselves have atleast a small inspiration for others,
love your enemies; it makes them damn mad,
forgiveness is the best way to forgive,
prayer is a very powerful asset in our life,
keeping ppl together is a difficult task,
spreading love, laughter and care is the best way to make this world a better place to live in,
to be happy evryday is not to be happy at all,
there is always an exception,
dont grumble over a relationship,
truth and defeats are hard to digest,
by making more frnds you are spreading humanhood,
you should not repeat your mistakes,
you and only you have to face your problems,
ppl understand better with an example,
sitting lonely doesnt mean sitting idle,
you shld be a perfectionist,
all prayers shld nt be answered,
3 is a good number,
tears and sharing are the best way to relief ourselves from our problems,
what goes along wid you throughout your life is your shadow and your shadow over other ppl,
adjustment and sacrifices is a must in life,
gossips are never out of fashion,
u must have preservence in life,
life is a learning process.
I would like to take this opportunity to thank a lot of ppl in my life esp my wife PREEYA who has been a wonderful partner for whatever years we have spent together. I would like to thank my family for being a wonderful wonderful support because whatever im today..... im becoz of them...
I would like to thank Nitesh (my bro cum frnd) for being an excellent support to me......... sry for not being in touch wid him...... but ur just wonderful Nitesh.....
Moreover.... I wld like to thank my frnds Cherry, Vimlesh, Dilip, Hitesh takla, Mansi, Mayuri, Neha....... for all u have done..... miss u all and luv u all. Miss al the ol days..... :)
I miss my grandmom....... i luv u a lot grandma...........i miss u a lot :(---------
Thank u all and god bless u all
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