Currency Daily Update 2011-04-28

EUR/USD

Weekly : Bullish + Strong
Daily : Bullish + Strong
4H : Bullish + Strong
1H : Bullish, Retracement is progress. Kumo as support.
Trade Idea : Enter long at 1H with stop loss at 1.4735.

GBP/USD

Weekly : Bullish + Strong
Daily : Bullish + Strong. Move today Resistance 2 (1.6871)
4H : Bullish + Strong. GU successful testing Resistance 1(1.6423) and bullish continue
1H : Bullish + Retracement is progress. GU currently above Kumo,  GU in between TS(1.6680) and KS(1.6620).
Trade Idea : Enter long now or wait 1.6642 or GU close above at time frame (TF) 1H.  SL when GU close below KS at TF1H or depend on your money management.

GBP/JPY

Weekly : Neutral
Daily : Bullish + Weak. GJ testing support at 135.46.
4H : Bullish + Weak. Retracement in progress.
1H : Bullish + Retracement. GJ above Kumo. Kumo react as Support.
Trade Idea : Wait for rebound at TF1H. Enter long with SL below previous lowest bar.

USJ/JPY
Weekly : Bearish + Weak. Support at 80.80.
Daily : Neutral + Sideway. Testing Support at 81.15.
4H : Bearish + Strong. Testing Support at 81.15..
1H : Bearish. Possibility to create double bottom.
Trade Idea : As UJ has possibility to create double bottom at TF1H. Traders may want to make entry long now and put SL at 81.25.

EUR/JPY
Weekly : Neutral.
Daily : Bullish + Retracement. Support at 118.33
4H : Bullish + Strong. Retracement in progress. Support at 120.10
1H : Bullish + Retracement. EJ currently near Kumo. Kumo as Support is on testing. 
Trade Idea : As EJ at Kumo in 1H TF and suggest to enter long when TS cross KS predict at 121.25.

Happy trading to all.