The London Open - page 126
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Good morning all.
Yesterday was a pretty good day with all the Yen & Swiss pairs playing ball for a change.
This morning sees us looking to buy some Yen over any currency we like. Really is a lucky-dip at the moment.
My pick of the 3 we cover at present would have to be for a short USDJPY, which hasn’t fallen too far through the support region.
IF I can get an entry at around 88.70 then I would take a small one with a stop abovee the pivot, which sits at 88.95.
GBPCHF is also looking good to the downside. A break of the WS2 level arounf 1.5830 could see this fall further so watch for that break.
GBPJPY-Missed this by a few hours and can’t really touch it right now. Needs to break below 121.00 for continuation.
EURJPY-A Break of 114.00 is the level here for a downside play. Keep an eye on both USDJPY and EURUSD to confirm.
USDCHF-Pretty strong the last few days I wondr what’s next here. Bit of a tricky one this session but a bounce off pivot and 60m 20ema at 1.1550 might see it higher. don’t trade EURJPY and this pair in the same direction at the moment as they seem to be travelling in opposite direction quite a lot lately.
EURCHF-Still looks pretty weak from yesterday. Needs to break 14955 (60m 50sma) to give the green ligh, but with traffic below it’s not one for the shortlist for me.
To Summarize. Let’s look for potential shorts on GBPCHF & USDJPY
Have a great day.
Zak
Good morning all
EURGBP – 15min ascending triangle forming. Look for break on upside from 0.9420 to DR1 at 0.9450. With GBPUSD potentially back on its run down EURGBP could make another push higher. Any break below the 60min 50ma would signal a pullback and look for the gap to fill between the 60min 50ma 0.9365 level and the 4hr 20ma at 0.9310.
GOLD – Any ideas..? Its been very messy. Wait for break of larger levels. $900.00 and $800.00
AUDUSD – Looks weak again. Will GOLD get pulled down by AUD I ask? A break below 0.6450 would signal a move towards the WS2 at 0.6300.
EURUSD – A double top on the 60min chart. A break of the previous low at 1.2900 would signal further downside for the EUR. A break here would see a move to the WS2 to begin with at 1.2857. Any support today would need to break above the 1.3030 level but looks unlikely at the moment. It is Friday so positions might get closed this afternoon so be aware this pm.. Still like EUR lower but lets see what this morning brings.
CABLE – There is a 60min triangle. Glad we stayed away from the 1.3700 short yesterday. GBP saw a bounce back up to the 1.3950 level before weakening over Asia. Expect further weakening today with potentially weak GBP figures out this am. They will basically confirm that the UK is in a recession. Don’t think we need confirmation of that to be honest!!! We know already…Look for a break of the DS1 but be careful until we get the trigger back inline. It might be worth holding out until these figures. Lets see…
USDCAD – A break below the 15min 50ma should see a move to the previous low at 1.2510. Tight stop
That’s all I am looking at today. Watch EURJPY for weakness as EURUSD will follow and watch GBPJPY for weakness as CABLE will follow.
Speak to you just after 7.00am.
Dan
Good morning all
Ok I was too cautious today with GDP figures out...It annoys me when i am not quite in the Zone. I always find that come friday and after a great week i get too protective of my little piperoonies. I missed that EURUSD and missed GBPJPY and missed the lot to be honest. Couldnt catch a cold!!! Had a little one in CABLE and USDCAD but that was it...
Many took the EURUSD break at 1.2900 for a solid 50-70 pips down towards the figure...
I and many took the CABLE trade. Short not from the triangle break but the support at 1.3681 break. Played it down to 1.3630 and now flat ahead of figures. Not trading GBP now and will wait for teh market to settle.
USDCAD - Stopped out for -15 pips...
Ok speak to you later.
Dan
Good morning all
Ok I was too cautious today with GDP figures out...It annoys me when i am not quite in the Zone. I always find that come friday and after a great week i get too protective of my little piperoonies. I missed that EURUSD and missed GBPJPY and missed the lot to be honest. Couldnt catch a cold!!! Had a little one in CABLE and USDCAD but that was it...
Many took the EURUSD break at 1.2900 for a solid 50-70 pips down towards the figure...
I and many took the CABLE trade. Short not from the triangle break but the support at 1.3681 break. Played it down to 1.3630 and now flat ahead of figures. Not trading GBP now and will wait for teh market to settle.
USDCAD - Stopped out for -15 pips...
Ok speak to you later.
Dan
Use a rolling stop loss in CABLE..
Couldnt resist
CABLE - Picture attached
Banked part at 35
will stop out balance if breaks above the figure
Banked again at 06
out cable..not getting greedy