DAILY FOREX MARKET COMMENTS

Tuesday September 11, 2007

EUR-USD

1.3802. Current rise should end around 1.3795 or 1.3823. Objectives of this downmove are 1.3773 or 1.3745. A rise above 1.3845 is again bullish.

USD-CHF

1.1865. It should test higher than 1.1883. Entry points are at 1.1853 and 1.1844. A break of 1.1823 is bearish.

USD-JPY

113.71. Is expected to fall lower than 112.04. Entry sell point are at 113.86 or 114.27 . Stop loss above 114.27.

GBP-USD

2.0277. Decline should be supported around 2.025 - 2.0222 zone for rally to above 2.0358. A clear break of 2.0222 will damage this expected rally.

EUR-CHF

1.6376. It should test 1.64 area after which a sell off down to 1.6341 or extended to 1.6306 area is expected.

EUR-JPY

156.96. It should test 158.36 area after which a sell off down to 155.63 or extended to 154.29 area is expected.

EUR-GBP

0.6806. Current rise should end around 0.6799 or 0.6816. Objectives of this downmove are 0.6790 or 0.6773. A rise above 0.6825 is again bullish.

AUD-USD

0.8258. Market should hold major support at 0.8159 before rising towards 0.8296 or even 0.8335 limit.

USD-CAD

1.0520. There are initial signs of a good corrective recovery towards 1.0556 or even 1.0568. Supports at 1.0519 and 1.0494 zone.

Euro beaten

EUR beaten with the ugly stick

The EUR was getting a severe beating in FX markets Wednesday with JPY, AUD, CAD and NZD the strongest currencies.

1 post GBP JPY

i have opened 1 post at sell GBP/JPY at 247.15 with stop loss at 248.0

target price is 150pips

2 positions at GBP usd and Euro usd

hello everyone

i have 2 positions at euro and gbp... i hope it will achieve its target which is more than 200pips...

Sell GU at 2.0600
Sell Euro at 1.3802

wish me luck for this signal...

Daily support and Daily resistance

EURUSD
Resist.
1.3944
1.3881
1.3853
1.3822
1.3789
1.3753
1.3689
Support
Quoted: 23 Jul 07 12:44 GMT

GBPUSD
Resist.
2.0755
2.0649
2.0605
2.0582
2.0499
2.0437
2.0331
Support
Quoted: 23 Jul 07 12:43 GMT

USDJPY
Resist.
124.66
123.09
122.18
121.29
120.61
119.96
118.39
Support
Quoted: 23 Jul 07 12:43 GMT

EURJPY
Resist.
171.28
169.60
168.63
167.66
166.95
166.22
164.54
Support
Quoted: 23 Jul 07 12:44 GMT

USDCAD
Resist.
1.0634
1.0550
1.0518
1.0427
1.0433
1.0381
1.0296
Support
Quoted: 23 Jul 07 12:44 GMT

GBP JPY post 11 of July 2007

Labels for the chart above:

Red line : Moving Average 200
Green line and Red circle : Strong Support that i defined
Blue line : Place i put buy position.
Yellow line : Place i closed my position

Total pips : 420 pips
Total profit : USD 343.28
Time frame used to analyze : 4 hour

From the above-mentioned chart, I have concluded to acquire GBP/JPY as I notice a strong support at RED circle area. The example given is for your perusal and I will provide more samples as and when the possibility arises.

When you encounter any problems or have any inquiries with regards to their forex trading, please feel free to drop an email to me at gap112@gmail.com.

Trade using only support and resistance

Hello everyone.... I am Abdul Ghaffur Abdul Hadi, a full time trader and also an Introducing brokers for Northfinance.com. There are several techniques in trading but the trading system I am comfortable with for my technical analysis are listed below:-

1) Daily Support and Daily resistance
2)Candlestick
3) Relative Strength Index 14 (2nd confirmation)
4) Traditional Elliot wave (2nd confirmation)
5)Fibonacci(2nd confirmation)

This is to facilitate in the sharing of any possible alerts that each of us encounters during the process of trading for our benefits in the near future. The sharing process is vital to all of us as in order for everyone to gain the best returns for their investment. Any newbie especially from Malaysia who wish to know details about forex trading can meet me at my website which is forexmalaya. Best of lucks to all forex traders in the world.

When you encounter any problems or have any inquiries with regards to their forex trading, please feel free to drop an email to me at gap112@gmail.com.

daily support and resistance 18th JULY 2007

Note: the support/resistance levels used in the matrix’s of this document are levels derived from yesterday high, low and close. Reference in the text to other support/resistance levels will occur.

EURUSD
Resist.
1.3865
1.3822
1.3802
1.3780
1.3759
1.3736
1.3693
Support
Quoted: 18 Jul 07 12:19 GMT

GBPUSD
Resist.
2.0685
2.0558
2.0512
2.0503
2.0385
2.0304
2.0177
Support
Quoted: 18 Jul 07 12:19 GMT

USDJPY
Resist.
123.60
122.88
122.60
122.14
121.88
121.42
120.69
Support
Quoted: 18 Jul 07 12:19 GMT

EURJPY
Resist.
170.35
169.35
168.97
168.30
167.96
167.34
166.33
Support
Quoted: 18 Jul 07 12:19 GMT

USDCAD
Resist.
1.0505
1.0471
1.0454
1.0469
1.0420
1.0403
1.0369
Support
Quoted: 18 Jul 07 12:19 GMT

GBPUSD support and resistance

GBPUSD
Resist.
2.0272
2.0187
2.0147
2.0149
2.0062
2.0017
1.9932
Support

Support and Resistance for Euro USD

EURUSD
Resist.
1.3760
1.3686
1.3656
1.3627
1.3582
1.3537
1.3463
Support

Euro USD prediction

USD Weakness Continues

On a day with light data, the USD continued the direction from Friday selling off, sending EURUSD and GBPUSD hígher despite soft UK CPI. I expect EURUSD to test recent highs at 1.3680 this week.

USD

Over the last week, the USD has fallen against most other majors, and only gained against the JPY and the CHF as carry trades have picked up the pace again. Both the ISM Manufacturing and Non-Manufaturing Indices have showed better than forecasted figures, but the ISM Prices Paid showed weaker than forecasted figures, telling us that the growth in the US i picking up a tad, while inflation pressures eases. THe housing market still shows weakening as the pending home sales dopped more than expected and more than prior figures from April. Key event is coming up today as the US June Job Report is released. As the US celebrated Independence Day on Thursday, the ADP Report - the proxy for the Nonfarm payrolls - was released Thursday and came out at 150K vs. 100K expected, adding buying interest to the US currency. Expectations to the Nonfarm figures was revised higher after the ADP report and is currently expected at 125K vs. 98K prior (revised from 97K). The Unemployment rate is expected to come out unchanged at 4.5pct. EURUSD was close to testing the prior highs from April at 1.3680 but was rejected and is currently trading around the 1.36-figure. We expect this pair the be faily range bound with a bullish tendency and see the pair testing the recent highs again within the coming 3 months.

GBP

Markets had tuned in for the UK rate decision on Thursday and bought GBP ahead of the figures, making GBPUSD break the 2007 highs at 2.0133 and tested the 2.02 figure. However as the BoE raises rates 25bp as expected to 5.75 pct., GBP-crosses sold off, despite the interest-futures market have priced in two additional hikes. We are expecting GBPUSD to pick up the bullish pace again and see it in 2.03 within the next month as our current expectations are that the Fed will keep rates fixed, increasing the yield-differential in favor of the GBP.

Forex signal for today April 13th 2007

Sell USD/JPY 118.79

Stop Loss 119.50
Target Price 117.00

Good luck to all who try this

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Regards,

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Paradox Management

Welcome to my forex blog

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