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I’m short at 0.8891 at the moment for AUDUSD, now let’s take a quick peek.
Its good for a short now, but it might just be a little retracement as the whole main trend is still on the upside.
Target Profit: 0.8813
Stoploss: +10 pips locked, 0.8881
Moments I have this posted, it got stopped out LOL. +10 pips.
Well well, its Friday. What we’ll be looking at tonight or next week 
GBPJPY
The range for the pair is closing soon with breaking out either on the top or bottom side of the trendline (more prone to the top now). It’s between 38.2 to 50.0 on the fibo and looks good to breach the 200EMA/SMA line on the top with MACD strength bias to the top as well.
Watch closely on the MACD for more confirmation.
EURUSD
With EURUSD setting new heights and breaking the 1.4100 psychological level (topped at 1.4120), we might be seeing a little retracement bouncing to the 23.6 zone on fibo at least before deciding on whether to trace back to the top OR uhm, yea down to the bottom instead.
USDCHF
Swissy looks awefully strong against the weak Dollar for the week and we notice it might have bottom out. I’m expecting dollar to retrace back to at least the 38.2 zone (1.1885) should MACD reverse. 200EMA/SMA lines are right at the top, indicating the possible direction of our price action.
Note, all these are just my analysis on pairs to look out for. Always enter on your own diligence with price action of the candles and stop loss.
Again, Euro sets its course to top its new heigh at 1.4087, will it be breaching 1.41xx zone? (EURUSD)
It still looks strong and will probably not be retracing anytime soon from now.
Dan and I were just chatting about this pair and he showed me this chart.
We concluded that the pair has strength still to go up before a huge retracement base on Elliott Wave.
What’s your view?
A turn around for the dollar before interest rate statement next week? Or a huge tumble?
Interesting pairs to look later would be USDCAD, where the candle positions are now closer to the bottom trend line and EURUSD, which the Euro might breach its new height again.
What’s your take?
After a wild past few weeks, the GBP/JPY pair is beginning to settle back down. While most of the traders I know will agree with me that the dive is over and it’s time for the GBP/JPY pair to do what it normally does (go up) there are still reservations on opening long positions at this level. Who wouldnt be scared of having another 900 pip drop while they’re sleeping?
Personally, Im waiting for it to dip back to 224.50-225.00 level before opening a long-term carry trade.
Just speculation at this point, informed nonetheless, but that’s what forex is, informed speculation.
Some people will probably ask for indicators, charts, numbers to support my speculation, but all that’s all academic at this point, I’d rather trust the opinions of traders I know and my personal analysis on the matter as opposed to synthetic charts which may or may not fit a pattern that’s there or not.
This might come a little late as I’ve just opened it. Note the high pips spread for this pair.
GBPCHF
Long 2.4245 SL 2.4215 TP 2.4295 or Move SL to profit
30 minutes from now, look out for US PPI’s release. Terminate the trade should the indicator be more than -0.2%
Long/ Buy Stop GBPUSD at 2.0038, SL 1.9998, TP 2.0131 or move SL
Buy Stop at 163.55, Stop Loss 163.25
I’ve placed a buystop at 2.0448, stop loss at 2.0418 (30 pips)
Reason:
Following momentum on the 4hrs MACD, trendline on the top seems to be easier to break. And it’s still heading away from the 200EMA/SMA.
Also look out for:
The Industrial Production stats which will be released in 2 hours time. If there’s any chance of an open position, close it before the news or at least place your stop loss level properly.
Analysis by Tim Clayton – Production Shock Required To Trigger Sterling Reaction
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With the Interest Rate statement released at 5.75% last month which brought the pound to an all new time height of 2.0561, the pound is taking a breath with a retracement to the 2.0280 level . Seasonal chart shows that the pair usually dives towards the end of July till Mid August.
England definitely have a stronger foothold on the economy as compared to their American counterpart with an all time PMI height in 3 years
The Bank of England is expected to leave the rates unchanged today at 5.75% today. Should the interest rate hold, expect to see some downwards action against the dollar towards the 2.0200 to 2.0150 level.
A reminder: Avoid trading any piece of news before the economic results is released. I understand people always have problem trying to short/ long positions during this timing, but it is definitely for the better if you can just wait. You can use sell stop to aid you and always remember to use stop loss level.