Monday, September 6, 2010

Weekly Forecast (FX)


EUR/USD is now resisted at my target 1.2900 region.

For those who are using oscillator, you will see a divergence formed in EUR/USD 30 minutes chart.
Trading Plan [Short Term]: During market opens, short near 1.2890 high and target at 1.2800.

I am looking at EUR/USD to continue to corrective upwave to 1.3000 region.
Trading Plan [Trend Trading]:
Long EUR/USD at 1.2800
SL 1.2760 (40 pips)
TG 1.2950 (150 pips)


Resistance 1.5580
Current Resistance 1.5480
Current Support 1.5330
Support 1.5150

Zoom into 4 Hour chart you will double pincer top at 1.5467, this level should act as a temporary resistance.

Trading Plan [Short Term, expired by 8pm (GMT+8)]:
Short at 1.5450, SL 1.5480, TG 1.5380

Trading Plan [2-3 days]:
Long GBP/USD at 1.5350
SL 1.5310 (40 pips)
TG1 1.5580 (230 pips)
TG2 1.5680 (50% Fibo retracement from 6 Aug 08 High)

1 comment:

  1. Good short term trades on GBP/USD.
    Both of EUR/USD short positions were triggered SL before the market turned down.

    My queue is now to Long EUR/USD at 1.2750-800.
    Long GBP/USD at 1.5350 activated.