Fundamental News

Look at the fundamental news taken from Forex Factory. How market react with the news? Does the news is true? Look for yourselves.

  

Now look at the EU chart. It shows USD is getting strong. Why? Read the newspaper.

Oil inventories increased. Read here. Now, which fundamental news traders want to believe? I believe news regarding crude oil and gold fundamental. The effect is very strong.

Be careful for Non-Farm news tomorrow.

Happy trading.

EUR/JPY Analysis 2011-05-05

EJ making a big move. Maybe due to powerful fundamental news on weak USD. Anyway, the chart tell us the situation in advance.

Trade Idea : Traders may want to take partial profit while let the rest ride the wave. Next entry could be taken once EJ made a few new peaks and troughs.

Happy trading.

GBP/USD Analysis 2011-05-05

GU showing a tendency to move lower. Believe GU will make a big move once support broken (red line). Potential Head & Shoulder pattern to occur.

  

Trade Idea : Trade with cautious. Enter with SL.

EUR/USD Analysis 2011-05-05

EU already made a very strong move. Believe EU will make further down.

Trade Idea : Wait for retracement and enter short once EU make a rebound.

Happy Trading.

GBP/USD Analysis 2011-05-05

GU may move in sideway before making a big move.
Weekly : Bullish + Strong
Daily : Bullish + Retrace. Support at 1.6423
4H : Neutral.  GU in Kumo and bounce before touching resistance line (red line) and may want to test support at 1.6423.

Trade Idea : Traders may want to wait breakout support or resistance or enter now with SL.

Wishing you best of luck.

EUR/USD Analysis 2011-05-05

EU has formed many small real bodies a few days ago on daily chart. Suggest the bullish is weak.

Trade Idea : Suggest to enter short when EU turn below previous low. Apply our own money management for SL.

Happy trading.

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.