FX Daily Strategy February 29th, 2012

February 29, 2012 By

Time is 05:00 GMT

Intraday Confluence Zones:

EUR/USD: 1.3410 – 1.3455 {Bullish Bias}
AUD/USD: 1.0735 – 1.0785 {Bullish Bias}
GBP/USD: 1.5830 – 1.5885 {Bullish Bias}
EUR/JPY: 108.20 – 108.80 {Neutral Bias}

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EUR/USD: 1.3410 – 1.3455 {Bullish Bias}

Our preference: LONG positions within 1.3410 – 1.3455 on bullish pattern/candlestick confirmation with divergence.

Comment: EUR/USD currently is testing the resistance at 1.3484. Hourly stochastic is overbought.

AUD/USD: 1.0735 – 1.0785 {Bullish Bias}

Our preference: LONG positions within 1.0735 – 1.0785 on bullish pattern/candlestick confirmation with divergence.

Comment: AUD/USD is testing the resistance at 1.0823. Hourly stochastic is overbought.

GBP/USD: 1.5830 – 1.5885 {Bullish Bias}

Our preference: LONG positions within 1.5830 – 1.5885 on bullish pattern/candlestick confirmation with divergence.

Comment: GBP/USD currently is in an upward trajectory. Hourly stochastic and RSI are overbought.

EUR/JPY: 108.20 – 108.80 {Neutral Bias}

Our preference: SHORT positions within 108.20 – 108.80 on bearish pattern/candlestick confirmation with divergence.

Alternative scenario: LONG positions within 108.20 – 108.80 on continuation pattern with well directed RSI.

Comment: EUR/JPY has pulled back into the confluence zone. Hourly stochastic has crossed down.

Filed Under: Daily FX Strategy

FX Daily Strategy February 28th, 2012

February 28, 2012 By

Time is 03:35 GMT

Intraday Confluence Zones:

EUR/USD: 1.3350 – 1.3400 {Neutral Bias}
AUD/USD: 1.0700 – 1.0740 {Bullish Bias}
GBP/USD: 1.5760 – 1.5810 {Bullish Bias}
EUR/JPY: 107.95 – 108.50 {Bearish Bias}

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EUR/USD: 1.3350 – 1.3400 {Neutral Bias}

Our preference: LONG positions within 1.3350 – 1.3400 on bullish pattern/candlestick confirmation with divergence.

Alternative scenario: SHORT positions within 1.3350 – 1.3400 on continuation pattern with well directed RSI.

Comment: Correction occurs on EUR/USD. Hourly stochastic is overbought. 20 MA has crossed below 50 MA on hourly chart.

AUD/USD: 1.0700 – 1.0740 {Bullish Bias}

Our preference: LONG positions within 1.0700 – 1.0740 on bullish pattern/candlestick confirmation with divergence.

Comment: AUD/USD is pushing higher. 20 MA has crossed above 50 MA on the hourly chart. Watch th level of 1.0717 (50% Fibonacci).

GBP/USD: 1.5760 – 1.5810 {Bullish Bias}

Our preference: LONG positions within 1.5760 – 1.5810 on bullish pattern/candlestick confirmation with divergence.

Comment: Correction occurs on GBP/USD. The price is testing the MA on hourly chart.

EUR/JPY: 107.95 – 108.50 {Bearish Bias}

Our preference: SHORT positions within 107.95 – 108.50 on bearish pattern/candlestick confirmation with divergence.

Comment: EUR/JPY currently is under pressure. Hourly stochastic has crossed down. 20 MA has crossed below 50 MA on hourly chart.

Filed Under: Daily FX Strategy

Gold, Silver & Oil Weekly Analysis

February 27, 2012 By

Time is 05:10 GMT

GOLD

Gold price currently is in strong bullish bias despite the correction that occurs on the 4 hours chart. Stochastic and CCI are almost oversold on the 4 hours chart, however the correction might extend to the support area at the range 1746.35 – 1759.85. In that scenario, we will be looking for bullish signals at that range to go long. Further, the uptrend might extend to the range 1806.92 – 1828.65 if the resistance at 1787.50 breaks.

On the contrary, a break of the support at 1746.35 will turn the mid-term bias to bearish and the bullish scenario mentioned above will fail as well. In that case, the gold might decline to 1724.62.

SILVER

Silver price is hovering just below the resistance at 35.70. A break of that resistance should trigger a bullish momentum and the silver price is expected to rise to the range 36.42 – 37.23. Stochastic and CCI are mixed on the 4 hours chart. However, we are expecting for a pullback to the range 33.81 – 34.53 to look for bullish setup to go long.

The mid-term bias will turn to bearish if the support at 33.81 breaks. In that case, the bullish scenario mentioned above will fail and the silver price possibly will decline to as low as 32.64.

OIL

The crude oil price remains in an uptrend, supported by a rising trendline as we can see on the 4 hours chart. The price is testing the resistance at 109.92 and if it breaks, the uptrend likely will extend up to the range 111.19 – 112.61. However, 4 hours stochastic and CCI are overbought, in fact they are crossing down. Therefore, we are expecting for a pullback to the trendline or the support area at 107.87, where we will be looking for bullish setup to go long.

The bullish scenario mentioned above will fail if the support at 106.60 breaks. In that case, the mid-term bias will turn to bearish and the oil price likely will slip to the next support at 104.55.

Filed Under: Gold & Oil

FX Daily Strategy February 27th, 2012

February 27, 2012 By

Time is 05:03 GMT

Intraday Confluence Zones:

EUR/USD: 1.3350 – 1.3405 {Bullish Bias}
AUD/USD: 1.0655 – 1.0695 {Neutral Bias}
GBP/USD: 1.5785 – 1.5830 {Bullish Bias}
EUR/JPY: 107.55 – 108.40 {Bullish Bias}

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EUR/USD: 1.3350 – 1.3405 {Bullish Bias}

Our preference: LONG positions within 1.3350 – 1.3405 on bullish pattern/candlestick confirmation with divergence.

Comment: EUR/USD remains in an upward trajectory. Hourly stochastic is oversold. Watch the level of 1.3378 (50% Fibonacci).

AUD/USD: 1.0655 – 1.0695 {Neutral Bias}

Our preference: LONG positions within 1.0655 – 1.0695 on bullish pattern/candlestick confirmation with divergence.

Alternative scenario: SHORT positions within 1.0655 – 1.0695 on continuation pattern with well directed RSI.

Comment: Correction occurs on AUD/USD. Hourly stochastic has crossed up.

GBP/USD: 1.5785 – 1.5830 {Bullish Bias}

Our preference: LONG positions within 1.5785 – 1.5830 on bullish pattern/candlestick confirmation with divergence.

Comment: GBP/USD currently is in an upward trajectory. Hourly stochastic is oversold. Watch the level of 1.5810 (50% Fibonacci).

EUR/JPY: 107.55 – 108.40 {Bullish Bias}

Our preference: LONG positions within 107.55 – 108.40 on bullish pattern/candlestick confirmation with divergence.

Comment: EUR/JPY remains in a strong bullish bias. Hourly RSI is overbought. Watch the level of 107.99 (50% Fibonacci).

Filed Under: Daily FX Strategy

FX Daily Strategy February 24th, 2012

February 24, 2012 By

Time is 05:55 GMT

Intraday Confluence Zones:

EUR/USD: 1.3265 - 1.3325 {Bullish Bias}
AUD/USD: 1.0675 – 1.0715 {Bullish Bias}
GBP/USD: 1.5710 – 1.5765 {Neutral Bias}
EUR/JPY: 106.00 – 106.55 {Bullish Bias}

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EUR/USD: 1.3325 – 1.3265 {Bullish Bias}

Our preference: LONG positions within 1.3325 – 1.3265 on bullish pattern/candlestick confirmation with divergence.

Comment: EUR/USD currently is in strong bullish bias. Hourly stochastic has crossed down. Hourly RSI is overbought. Watch for a break of 1.3379.

AUD/USD: 1.0675 – 1.0715 {Bullish Bias}

Our preference: LONG positions within 1.0675 – 1.0715 on bullish pattern/candlestick confirmation with divergence.

Comment: AUD/USD has broken its negative trendline. Hourly stochastic has crossed down.

GBP/USD: 1.5710 – 1.5765 {Neutral Bias}

Our preference: SHORT positions within 1.5710 – 1.5765  on bearish pattern/candlestick confirmation with divergence.

Alternative scenario: LONG positions within 1.5710 – 1.5765 on continuation pattern with well directed RSI.

Comment: GBP/USD has pulled back into the confluence zone. Hourly stochastic has crossed down.

EUR/JPY: 106.00 – 106.55 {Bullish Bias}

Our preference: LONG positions within 106.00 – 106.55 on bullish pattern/candlestick confirmation with divergence.

Comment: EUR/JPY remains bullish, supported by an accelerating trendline. Hourly stochastic and RSI are overbought. Watch the level of 106.26 (50% Fibonacci).

Filed Under: Daily FX Strategy

FX Daily Strategy February 23rd, 2012

February 23, 2012 By

Time is 05:20 GMT

Intraday Confluence Zones:

EUR/USD: 1.3210 – 1.3250 {Neutral Bias}
AUD/USD: 1.0655 – 1.0700 {Bearish Bias}
GBP/USD: 1.5710 – 1.5765 {Bearish Bias}
EUR/JPY: 105.60 – 106.00 {Bullish Bias}

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EUR/USD: 1.3210 – 1.3250 {Neutral Bias}

Our preference: LONG positions within 1.3210 – 1.3250 on bullish pattern/candlestick confirmation with divergence.

Alternative scenario: SHORT positions within 1.3210 – 1.3250 on continuation pattern with well directed RSI.

Comment: EUR/USD remains in consolidation mode. Stochastic is overbought on 30 min chart.

AUD/USD: 1.0655 – 1.0700 {Bearish Bias}

Our preference: SHORT positions within 1.0655 – 1.0700  on bearish pattern/candlestick confirmation with divergence.

Comment: AUD/USD remains capped by a negative trendline. Hourly stochastic is overbought. Watch the level of 1.0673 (50% Fibonacci).

GBP/USD: 1.5710 – 1.5765 {Bearish Bias}

Our preference: SHORT positions within 1.5710 – 1.5765  on bearish pattern/candlestick confirmation with divergence.

Comment: GBP/USD currently is under heavy pressure. Watch for a break of yesterday’s low.

EUR/JPY: 105.60 – 106.00 {Bullish Bias}

Our preference: LONG positions within 105.60 – 106.00 on bullish pattern/candlestick confirmation with divergence.

Comment: EUR/JPY is supported by a rising trendline. Hourly stochastic is almost oversold. Watch the level of 105.84 (50% Fibonacci).

Filed Under: Daily FX Strategy

FX Daily Strategy February 22nd, 2012

February 22, 2012 By

Time is 05:35

Intraday Confluence Zones:

EUR/USD: 1.3135 – 1.3195 {Bullish Bias}
AUD/USD: 1.0665 – 1.0705 {Bearish Bias}
GBP/USD: 1.5805 – 1.5845 {Bearish Bias}
EUR/JPY: 105.15 – 105.50 {Bullish Bias}

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EUR/USD: 1.3135 – 1.3195 {Bullish Bias}

Our preference: LONG positions within 1.3135 – 1.3195 on bullish pattern/candlestick confirmation with divergence.

Comment: EUR/USD is moving in consolidation mode. Hourly stochastic has crossed up.

AUD/USD: 1.0665 – 1.0705 {Bearish Bias}

Our preference: SHORT positions within 1.0665 – 1.0705 on bearish pattern/candlestick confirmation with divergence.

Comment: AUD/USD remains under pressure. Watch the level of 1.0680 (50% Fibonacci).

GBP/USD: 1.5805 – 1.5845 {Bearish Bias}

Our preference: SHORT positions within 1.5805 – 1.5845 on bearish pattern/candlestick confirmation with divergence.

Comment: GBP/USD currently is under pressure. Watch the level of 1.5822 (50% Fibonacci).

EUR/JPY: 105.15 – 105.50 {Bullish Bias}

Our preference: LONG positions within 105.15 – 105.50 on bullish pattern/candlestick confirmation with divergence.

Comment: EUR/JPY currently is in consolidation mode. Hourly stochastic is overbought. Watch for a break of yesterday’s high.

Filed Under: Daily FX Strategy

FX Daily Strategy February 21st, 2012

February 21, 2012 By

Time is 05:20 GMT

Intraday Confluence Zones:

EUR/USD: 1.3110 – 1.3170 {Bullish Bias}
AUD/USD: 1.0730 – 1.0770 {Bearish Bias}
GBP/USD: 1.5740 – 1.5795 {Bullish Bias}
EUR/JPY: 103.50 – 104.25 {Bullish Bias}

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EUR/USD: 1.3110 – 1.3170 {Bullish Bias}

Our preference: LONG positions within 1.3110 – 1.3170 on bullish pattern/candlestick confirmation with divergence.

Comment: EUR/USD is still pushing higher. Hourly RSI is turning down.

AUD/USD: 1.0730 – 1.0770 {Bearish Bias}

Our preference: SHORT positions within 1.0730 – 1.0770 on bearish pattern/candlestick confirmation with divergence.

Comment: AUD/USD currently is under pressure. Watch the level of 1.0747 (50% Fibonacci).

GBP/USD: 1.5740 – 1.5795 {Bullish Bias}

Our preference: LONG positions within 1.5740 – 1.5795 on bullish pattern/candlestick confirmation with divergence.

Comment: Correction occurs on GBP/USD. Hourly stochastic has crossed up. Watch the level of 1.5767 (50% Fibonacci).

EUR/JPY: 103.50 – 104.25 {Bullish Bias}

Our preference: LONG positions within 103.50 – 104.25 on bullish pattern/candlestick confirmation with divergence.

Comment: EUR/JPY is testing the resistance at 105.97. Hourly stochastic and RSI are mixed.

Filed Under: Daily FX Strategy

Gold, Silver & Oil Weekly Analysis

February 20, 2012 By

Time is 07:07 GMT

GOLD

Gold price remains moving in a minor down channel. As we can see on the 4 hours chart, the price is testing the channel’s upper line and the resistance at 1736.21 at the same time. Stochastic and CCI are overbought on the 4 hours chart. Even though the stochastic previously crossed down, but it has moved up again and hovering around the overbought area.

Our preference is short to the support at 1706.06, especially if bearish signals recur on the 4 hours stochastic and CCI. Lowest target is the channel’s lower line for this week. However, the bearish scenario will fail if the channel’s upper line breaks. It means that the resistance at 1736.21 also breaks. In that case, the mid-term bias will turn to bullish with the next resistance at 1763.16 as the next target.

SILVER

The mid-term bias is bearish for silver as the price managed to hit the level of 32.64 last week. The stochastic has crossed up on the 4 hours chart, therefore the pullback move might extend to the resistance at 33.78 where we will be looking for bearish signal to go short to the support at 33.08. If this support breaks, the bearish move could extend to the next support at 32.64.

The bearish scenario mentioned above will fail if the resistance at 33.78 breaks. In that case, silver might be pushed up to the next resistance at 34.49 this week.

OIL

The mid-term bias is strongly bullish for crude oil. At the time this article was written, the price is testing the resistance at 105.53. Acceleration above this resistance possibly will be followed by extended bullish move to the range 107.47 – 109.65.

However, we will be watching the 4 hours stochastic and CCI since they have been moving in the overbought area for two days. Any valid bearish signals from both of the indicators is likely to be followed by a correction to the range 100.44 – 102.39. This range is our confluence zone to look for bullish setup to go long. However, use care if the support at 100.44 breaks as it will turn the bias to bearish.

Filed Under: Gold & Oil

FX Daily Strategy February 20th, 2012

February 20, 2012 By

Time is 05:00 GMT

Intraday Confluence Zones:

EUR/USD: 1.3075 – 1.3135 {Bullish Bias}
AUD/USD: 1.0710 – 1.0750 {Bullish Bias}
GBP/USD: 1.5740 – 1.5795 {Bullish Bias}
EUR/JPY: 103.50 – 104.25 {Bullish Bias}

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EUR/USD: 1.3075 – 1.3135 {Bullish Bias}

Our preference: LONG positions within 1.3075 – 1.3135 on bullish pattern/candlestick confirmation with divergence.

Comment: EUR/USD was opened higher with a gap. Hourly stochastic is crossing down.

AUD/USD: 1.0710 – 1.0750 {Bullish Bias}

Our preference: LONG positions within 1.0710 – 1.0750 on bullish pattern/candlestick confirmation with divergence.

Comment: AUD/USD remains supported by a rising trendline. Hourly stochastic is crossing down.

GBP/USD: 1.5740 – 1.5795 {Bullish Bias}

Our preference: LONG positions within 1.5740 – 1.5795 on bullish pattern/candlestick confirmation with divergence.

Comment: GBP/USD is was opened higher with a gap. Hourly stochastic is overbought. Watch for a break of the resistance at 1.5878.

EUR/JPY: 103.50 – 104.25 {Bullish Bias}

Our preference: LONG positions within 103.50 – 104.25 on bullish pattern/candlestick confirmation with divergence.

Comment: Intraday bias remains bullish for EUR/JPY. Hourly stochastic and RSI have crossed down.

Filed Under: Daily FX Strategy
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