Currecy Daily Update 2011-05-09

EUR/USD

Weekly : Bullish + Retracement.
Daily : Bullish + Weak.
4H : Bearish + Strong.
1H : Bearish + Strong, EU just move out from retracement and currently test latest support at 1.4308.  
Trade Idea: Enter short at 1H TF when EU close below 1.4300 with SL at 1.4446. Current price at 1.4324.

GBP/USD

Weekly : Bullish + Retracement
Daily : Bullish + Weak.
4H : Bearish + Strong.
1H : Bearish + Strong. 
Trade Idea : Hold current position for those who short, Trailing Stop (TS) at 1.6395. Not recommend new position until we see next retracement. Current price 1.6317

GBP/JPY

Weekly : Neutral.
Daily : Bullish + Weak.
4H : Bearish + Strong. Retracement almost completed.
1H : Bearish + Retracement completed.  GJ below Kumo.
Trade Idea : Hold short for those who already short. Can short now with SL at 132.40. Current price at 131.53.

USJ/JPY
Weekly : Bearish + Strong.
Daily : Neutral.
4H : Bearish + Weak.
1H : Bullish + Retracement.
Trade Idea : Wait for UJ close above 81.00 for Long entry. Short when UJ close below 80.10. Current price at 80.65.

EUR/JPY
Weekly : Neutral.
Daily : Bullish + Weak. Triangle pattern fail. Price in downtrend channel, near downtrend channel line and near Kumo. EJ may rebound.
4H : Bearish + Strong. EJ in downtrend channel.
1H : Bearish + Strong. EJ retracement completed. 
Trade Idea : Enter short when EJ close below 115.18, SL at 116.50. Current price at 115.46.

Happy trading to all.

Currency Daily Update 2011-05-03

EUR/USD

Weekly : Bullish + Strong
Daily : Bullish + Strong
4H : Bullish + Flat Range since April 28, 2011.
1H : Neutral, Retracement is progress. Kumo as support.
Trade Idea: Enter long at 4H when EU close above 1.4900 with SL at 1.4820. Enter short when EU close below 1.4750. Current price at 1.4874.

GBP/USD

Weekly : Bullish + Strong
Daily : Bullish + Retrace. Support at 1.6823
4H : Bullish + Weak. GU touched Kumo and bounce back and may want to test Resistance level at 1.6423 again.
1H : Bearish + Retracement is progress. GU currently below Kumo, 
Trade Idea : Enter short when GU close below 1.6423 and SL at 1.6590 or enter short when GU create a lower high at 4H TF. Current price at 1.6531.

GBP/JPY

Weekly : Neutral
Daily : Bullish + Weak. Previous support at 135.46 broken.
4H : Bearish + Strong. Retracement in progress. GJ below Kumo, TS and KS.
1H : Bearish + Retracement in progress. GJ above Kumo. KS react as Resistance (134.35).
Trade Idea : Wait for retracement to complete at TF1H. Enter short GJ close below TS with SL above KS (134.35). Current price at 133.78.

USJ/JPY
Weekly : Bearish + Weak. Support at 80.00
Daily : Neutral + Sideway. Testing Support at 81.15.
4H : Bearish + Strong. Testing Support at 80.00.
1H : Bearish + Strong. Double bottom fail to materialize.
Trade Idea : Wait for bearish retracement somewhere at Kumo 4H TF (81.76) before go for short . SL when price close above 82.26. Current price at 80.93.

EUR/JPY
Weekly : Neutral.
Daily : Bullish + Retracement. Triangle pattern in progress.
4H : Bullish + Weak + Flat. Support at 118.90.
1H : Bearish + Weak. EJ currently pullback from reaching Kumo. Kumo as Resistance at 120.70. 
Trade Idea : As EJ pullback from Kumo. Enter short at 1H TF when candle close lower. SL at 120.70. Possible target profit (TP) at 119.15. Current price at 120.23.

Happy trading to all.

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.

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.