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
Subscribe to:
Posts (Atom)