Daily Update 2011-04-11

EUR/USD

Weekly : Bullish
Daily : Bullish
4H : Bullish
1H : Bullish, Retracement is progress. Kumo as support.
Trade Idea : Enter long when TS cross KS at 1H with stop loss. To those who familiar with hedging and good at money management, can use hedging strategy if price move south.

GBP/USD

Weekly : Bullish
Daily : Bullish
4H : Bullish. GU testing Resistance 1. Refer previous chart.
1H : Bullish, Retracement is progress. GU currently above Kumo but TS still below KS.
Trade Idea : Enter long when TS completely cross KS at time frame 1H. Put stop loss depend on your money management.

GBP/JPY

Weekly : Neutral
Daily : Bullish. Testing Resistance 1.
4H : Bullish. Retracement in progress. GJ move in flat pattern.
1H : Bearish. bearish retracement. GJ below Kumo.
Trade Idea : Can trade both side. Long or Short. If short trade, suggest to put target at 4H Kumo. If long trade, suggest not to put target profit as GJ tend to move toward Resistance 2. Refer previous weekly chart.

USJ/JPY
Weekly : Neutral.
Daily : Neutral. Testing Resistance 1.
4H : Neutral. Retracement in progress.
1H : Bearish.  
Trade Idea : UJ near Kumo. Not recommended to open any trade until a good trade setting appear. If to open trade at 4H, wait until UJ cross above TS and KS for long trade. If to open trade at 1H, wait for UJ to retrace at time frame (TF) 1H from bearish for short trade.


EUR/JPY - Chart to be posted later.
Weekly : Neutral.
Daily : Bullish. Resistance 1 already broken.
4H : Bullish. Retracement in progress.
1H : Bullish. EJ currently at Kumo. Kumo as Support is on testing. 
Trade Idea : EJ at Kumo in 1H TF and suggest to enter long when TS cross KS and EJ higher than previous high (123.28).

Happy trading to all. Wish you all success.