All Blog Entries

Market is annoying these days and I want to note again just beware of low liquidity and keep it small.
EURGBP is still in a channel and is moving with no goal and target, 0.8545 and 0.8450 are important levels now:

Those levels are the upper bond of the channel and median line of the channel which shows price behaved to this levels before many times.
I’m looking at 0.8545 for a possible short setup and at 0.8450 for a possible long setup. If price wants to go higher, it has to break the channel to the upside, so also look for a break of the upper bond and after a candle closed above it then I would consider to go long.

Read the original post here

Both pairs are in strong downtrends with no support and record lows.
GBP/AUD – strong downtrend no support, set sell alarm at 1.5360, When the price alarms hit verify any sell entries with The Forex Heatmap ™ and look for GBP weakness or AUD strength or both

EUR/AUD – strong downtrend no support, set sell alarm at 1.3075
When the price alarms hit verify any sell entries with The Forex Heatmap ™
and look for EUR weakness or AUD strength or both

Good Trading
Mark Mc Donnell
www.forexearlywarning.com
Spot Forex Trading Plans Across 22 Currency Pairs

INTRADAY TRADING SIGNAL BY ACETRADER.COM: USD/JPY

USD/JPY : 83.50

Last Update At 23 Dec 2010 01:29 GMT

Although dlr's erratic fall fm last week's high
at 84.51 pressured price to 83.41 in NY, subsequent rebound to 83.71 suggests consolidation with mild upside bias is seen in Asia, however, abv 83.91 is needed to signal correction is over.

Buy on dips for 83.80 n only below said y'day's
low may risk one more fall to 83.25/30 b4 rebound.

Range Forecast
83.45 / 83.65

Resistance/Support
R: 83.71 / 83.91 / 84.21
S: 83.41 / 83.29 / 83.18

http://www.acetraderfx.com

USDJPY’s fall from 84.49 extended further to as low as 83.37. Deeper decline is still possible later today and next target would be at 83.00 area. However, the next cycle bottom nearing, a break above 83.90 key resistance will indicate that the downward move has completed, then the following uptrend could bring price back to 85.00 area.



Daily Forex Forecast