Friday 13/04/2012 (London)
USD/CHF – Potential Sell
I’ll be avoiding the CHF, at least for this morning. On the H4 we have a perfect bearish down trend which I expect to continue. We can however see a bullish rate on the M15. This could be a retracement. If the rate breaks below yesterday’s daily low of 0.90908, then not only do we have matching charts in terms of market flow, we also have a nice breakout to trade. This is one to watch.
GBP/USD – Potential Buy
Well the H4 on the pound is giving us a bullish outlook, the M15 has a clear bullish trend but is currently retracing. There is potential to make money from going long on the GBP but personally I’ll be waiting until the rate is back in line with the trend. A buy in level for me would be when yesterday’s high is broken (1.59835).
EUR/USD – Avoid
While the Euro may be bullish on the H4, the M15 is quite a different story. The thing is dropping. The rate is fairly choppy so unless the rate shoots above1.32118 I’ll be avoiding trades on this today.
USD/CAD – Avoid.
As with many other pairs today on the H4 we see a higher high formed against the downwards trend. If we go to the M15 we can see that the latest key low is considerably lower than the last. With contrasting charts and an unclear market direction, this is a pair I will not be trading today.
AUD/USD – BUY
Well the M4 on the USD continues our thoughts from yesterday. The change in the downwards trend has continued with higher key highs and higher key lows meaning a bullish market and a new upwards trend forming. The M15 confirms this and is clearly bullish, although there has been a slight retracement where we see the rate ranging. I’ll be watching this pair today. If the rate breaks 1.04513 then I’ll be looking to go long.
PICK OF THE DAY – Again, the AUD is my pick of the day. 1.04513 is not only the
level of the previous key high; it is also a few pips after an M3 daily pivot. If the rate breaks this level, then not only are both the M15 and H4 bullish, the pair will be breaking out, a clear buying opportunity.
USD/CHF – Potential Sell
I’ll be avoiding the CHF, at least for this morning. On the H4 we have a perfect bearish down trend which I expect to continue. We can however see a bullish rate on the M15. This could be a retracement. If the rate breaks below yesterday’s daily low of 0.90908, then not only do we have matching charts in terms of market flow, we also have a nice breakout to trade. This is one to watch.
GBP/USD – Potential Buy
Well the H4 on the pound is giving us a bullish outlook, the M15 has a clear bullish trend but is currently retracing. There is potential to make money from going long on the GBP but personally I’ll be waiting until the rate is back in line with the trend. A buy in level for me would be when yesterday’s high is broken (1.59835).
EUR/USD – Avoid
While the Euro may be bullish on the H4, the M15 is quite a different story. The thing is dropping. The rate is fairly choppy so unless the rate shoots above1.32118 I’ll be avoiding trades on this today.
USD/CAD – Avoid.
As with many other pairs today on the H4 we see a higher high formed against the downwards trend. If we go to the M15 we can see that the latest key low is considerably lower than the last. With contrasting charts and an unclear market direction, this is a pair I will not be trading today.
AUD/USD – BUY
Well the M4 on the USD continues our thoughts from yesterday. The change in the downwards trend has continued with higher key highs and higher key lows meaning a bullish market and a new upwards trend forming. The M15 confirms this and is clearly bullish, although there has been a slight retracement where we see the rate ranging. I’ll be watching this pair today. If the rate breaks 1.04513 then I’ll be looking to go long.
PICK OF THE DAY – Again, the AUD is my pick of the day. 1.04513 is not only the
level of the previous key high; it is also a few pips after an M3 daily pivot. If the rate breaks this level, then not only are both the M15 and H4 bullish, the pair will be breaking out, a clear buying opportunity.