Hello Traders,
Forex Signals for the 5th of April 2011:
Short Term strategy:
Euro/Usd buy 1.4725/30 then 1.4680/85 then 1.4585/90, sell 1.4950/55 then 1.4995/00 then 1.5010/15 then 1.5085/90
Usd/Jpy buy 80/15/20 then 79.95/00 then 79.50/55, sell 81.20/25 then 81.50/55 then 81.80/85
Usually, I do not sell this pair especially at current prices, focus on buying this pair on dips, there might occur intervention at anytime if prices keep going down
Usd/Chf buy 0.8540/45 then 0.8505/10 then 0.8460/65, sell 0.8670/75 then 0.8700/05 then 0.8755/60
Same said for this pair, better keep buying at dips simply because it is in its historic lows and you never know when the Fed will wake up from their deep sleepā¦ so this pair might spike and you might not be able to run after it to close a sell order
Gbp/Usd buy 1.6415/20 then 1.6380/85 then 1.6310/15, sell 1.6580/85 then 1.6625/30 then 1.6675/80
Euro/Jpy buy 118.65/70 then 118.25/30 then 117.30/5, sell 120.80/85 then 121.40/45 then 122.05/10
Gbp/Jpy buy 132.10/15 then 131.75/80 then 130.80/85, sell 134.20/25 then 134.80 then 135.35/40
Usd/Cad buy 0.9500/05 then 0.9465/70 then 0.9425/30, sell 0.9640/45 then 0.9660/65 then 0.9725/30
Euro/Chf buy 1.2705/10 then 1.2675/80 then 1.2625/30, sell 1.2840/45 then 1.2875/80 then 1.2925/30
Gbp/Chf buy 1.4130/35 then 1.4095/00 then 1.4035/40, sell 1.4280/85 then 1.4315/20 then 1.4370/75
Aud/Usd buy 1.0670 then 1.0635/40 then 1.0540/45, sell 1.0870/75 then 1.0930/35 then 1.0985/90
Nzd/Usd buy 0.7815/20 then 0.7785/90 then 0.7705/10, sell 0.7995/00 then 0.8045/50 then 0.8100/05
Euro/Gbp buy 0.8960 then 0.8945/50 then 0.8915/20, sell 0.9030/35 then 0.9050/55 then 0.9070/75
Sometimes some signals for different pairs are not triggered because price didnāt go to that direction or reversed or for whatever reasonā¦, but as usual we are always ready for any possibility the market might give us, this is why i provide you with complete signal info for these pairsā¦
Medium Term strategy:
Euro/Usd This pair still on uptrend, might target today high at 1.4960/70, while basing below 1.4830 is to 1.4750/60 then break is to low at 1.4590/00
Gbp/Usd This pair is on downtrend from yesterday, retraced to said resistance yesterday(read previous post) then went down again, today retracement is 1.6555/60(also might stop at 1.6540 and go down), while only above said resistance is to 1.6660 high while low is at 1.6380/90 then 1.6300/10 but take note that 1.6450 would be a good support before reaching said lows.
Usd/Chf This pair is still on downtrend, low is at 0.8530/35 while retracement is at 0.8630/40 break is to 0.8700 basing above here might target 0.8830/40
Usd/Jpy This pair still on downtrend, low is at 79.80/90 while retracement is at 80/85/90 break is to 81.30/40 then 82.30/40
Euro/Chf This pair on downtrend, low is at 1.2690/00 break would extend weakness, retracement at 1.2795/00 break is to 1.2840 then break is to 1.2890/00
Gbp/Chf This pair on downtrend, low is at 1.4035/40 filtering above 1.4000, retracement is at 1.4270/80 then break might extend gains to 1.4400/10
Euro/Jpy This pair is moving sideways, above 120.00 is 122.50/60 and below is to 117.70/80
Gbp/Jpy This pair is on downtrend, good support is at 132.40/50 below would extend weakness while retracement is at 133.70/80 then break is to 134.60/70 and 135.40/50 must hold for today
Euro/Gbp This pair is moving on uptrend, looking to base below 0.9000 but if breaks would lead to high at 0.9070/80 while retracement is at 0.8960 break is to 0.8900/10 then 0.8870 would hold for today
Usd/Cad This pair started an uptrend movement as said yesterday, must today target 0.9650/60 then 0.9700 while retracement is at 0.9550 as good support below is 0.9520, break here would change the uptrend view and might go again to low at 0.9450
Nzd/Usd This pair started a downtrend movement as said yesterday, today would target low at 0.7780/90 while good resistance retracement is at 0.7955/60 break here would change our down view to 0.8000/10
Aud/Usd This pair also started downtrend yesterday, retracement is at 1.0800/05 but break above 1.0830 would change our down view to 1.0870/80 while break of good support at 1.0690 would extend weakness to low at 1.0510/20
Gold is on downtrend from yesterday, good resistance is at retracement 1526 break here would change our view to 1543/45 while low is at 1500/03 break would extend weakness to 1494/95 then 1484/85
Oil is also on downtrend from yesterday, hit our support around 108, today retracement is at 110.00/20 break is to 110.60 then 11.70/80, while low is at 106.50
I would like to explain some words meaning for traders who do not get it clearly. When I say Retracement is at this price, that means it is a possible reversal point for you to buy or sell at least for first contact(hit and pullback) for example gbp/usd yesterday retracement, break this price means you can trigger a buy or sell as a breakout startegy targetting next price signal I mention, high at this price means that you can sell that pair and mostly it would be the high for the whole day and vice versa for the low which means to buy that pair.
For Example, yesterday I said Usd/chf low is at 0.8550(read previous post) and that is what happened, it hit this price and kept going up for hours to around 70 pips, so it was a perfect buy at that price, on the other way Euro/Usd high was 1.4940/50(posted yesterday), it hit 1.4940 and went down for many hours to reach more than 100 pips, meaning it was a perfect sell at that price.
Take Crucial Note about what these words realy mean and work accordinglyā¦, despite I know that some traders understood these meanings from my first postsā¦
We have 4 Very Important News Release for today:
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UK Services PMI: Buy Gbp/Usd if 58 or above while sell if 54 or below
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UK Official Bank Rate & Asset Purchasing Facility: Buy Gbp/Usd if 0.75% while sell if kept at 0.50% and the latter is 220B or above
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EU ECB Rate Decision: Buy Euro/Usd if 1.50% while sell if 1 %, I believe the rate will be kept at 1.25%, so wait for market reaction(which will be effected by other factors or side hints or marlet talksā¦) to enter any possible trade
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CA IVEY PMI: Buy Usd/Cad if 64 or less while sell if 70 or moreā¦
Have A Great Trading Day