Friday, June 3, 2011

FX Update on Fri 3-June-2011

EUR/USD

My short were triggered and market is bullish, it breaks 1-June-2011 high 1.4457 level and closed above.

Next resistance level is 1.4608 and 1.4750.

today bias bullish, long 1.4470 SL 1.4440 TG 1.4600.


2nd scenario
if today EUR/USD close as a small bodied candle then it may signal a false break and going to correct from here.

GBP/USD

market hit my order yesterday during the spike and quickly turn down.
my trade... were killed during the spike, even though the forecast is right.
Again, the GBP/USD market is a little bit more wild sometimes :)

Although I have adjusted my entry level, but still unexpectedly got killed by 6 pips, oh dear, work harder next time.

Today will look for short opportunity when it approach 1.6410 resistance again or near the BKO level for this trap 1.6430.

Cheers
I had a very happy dancing session last night, my bruises were gone and next week can challenge the floor again!
Ayumi
Posted by Ayumi at 8:50 AM
Labels: , ,

5 comments:

  1. HandsJune 3, 2011 at 1:47 PM

    Hi Ayumi,

    For GBPUSD, is it possible to create reverse head and shoulder, which means possible it goes up to 1.65?
    5 may neck (left)
    9 may shoulder (left)
    11 may neck (left)
    23 may head
    30/31 may neck (right)
    2 june shoulder (right)
    3/6 june building another neck at 1.65? (right)

    GBPUSD looks weak, but yet when seeing EurUsd rally strongly the past few days, I just wondering whether GBPUSD just going up slower..

    My current view, it might going up at 430pm today after PMI.. Still can't make up my mind at ease on the better direction for GBPUSD..

    ReplyDelete
  2. AyumiJune 3, 2011 at 3:45 PM

    Hi Hands,

    1.6450-500 is a good resistance area, if u are right on the reverse head and shoulder pattern, then beaming above this resistance Gbpusd will head to 1.6600 and towards 1.6750 double top.

    But Hands, I personally regard 1.6450-500 a good region to pick short :)

    http://ayumi216.blogspot.com/2011/06/fx-update.html

    Check my previous post :)

    ReplyDelete
  3. AyumiJune 3, 2011 at 3:48 PM

    Beaming ==> breaking, typing error with my phone ^•^

    ReplyDelete
  4. HandsJune 3, 2011 at 6:11 PM

    Hi Ayumi,

    You may be right.. with the not so good PMI, GBPUSD has dropped further.. It looks weak..

    ReplyDelete
  5. AyumiJune 7, 2011 at 10:06 AM

    Hi Hands,

    Yesterday GBP/USD have just tested 1.6450, but i didn't key in my order, I almost wanted to enter at market but I didn't, instead, I will try again today at 1.6500 to Short GBP/USD.

    ReplyDelete

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