Wednesday, February 3, 2010

USDJPY UNDER PRESSURE

The USDJPY may be under-pressure as we had several bounces from the 100 hour simple moving average, but with the trendline break i will be expecting a SELL.

A look at the 5min timeframe shows that price is playing below the two moving averagies. A good sell should be below 90.30 stoploss should not be more than 100pips and tp also 100pips with 30-50 trailing.

Let's watch.

Monday, February 1, 2010

EURUSD - DOWNSIDE PREVAILED

The EUR is been facing a terrible time compared to the USD and today we hit a major ressistant again with the intra-day market overbought we may face another downturn to 1.3830. Alternatively a convincing break of 1.4000 may see an upside to about 1.4200 zone.

I have also noticed a hidden divergence on the 30min timeframe to the downside yet to be confirmed. Its a bearish anticipation looking at the chart below