Trend of the Day - Page 27 - DailyFX Forex Forum

Gregory McLeod · #**391** (**permalink**) 05-06-2009, 11:32 AM

Quote:

Originally Posted by Kimaki

Sorry, I had the pair in the title it's the AUD/CAD.
Thanks

With the results of the 19-bank Stress tests coming out tomorrow and Non-Farm payroll coming out on Friday, I wouldn't expect to many pairs to trade outside of these tight ranges. AUD/CAD is still within its rising trend channel about 200 pips from the old resistance and high of .8936. Once it can get past this hurdle, .9143 would be the next price target.

Kimaki · #**392** (**permalink**) 05-06-2009, 04:35 PM

Looking to see how that goes... thanks Greg.

Quote:

Originally Posted by Gregory McLeod

With the results of the 19-bank Stress tests coming out tomorrow and Non-Farm payroll coming out on Friday, I wouldn't expect to many pairs to trade outside of these tight ranges. AUD/CAD is still within its rising trend channel about 200 pips from the old resistance and high of .8936. Once it can get past this hurdle, .9143 would be the next price target.

Gregory McLeod · #**393** (**permalink**) 05-08-2009, 06:01 AM

Quote:

Originally Posted by Kimaki

Looking to see how that goes... thanks Greg.

You are welcome. It hit a high of .8848 as of the time of this writing.

Gregory McLeod · #**394** (**permalink**) 05-08-2009, 06:10 AM

Though AUD/USD has been making new highs, there is no trade on a daily chart that would provide a a good risk to reward. The proverbial train has left the station, and if you were one of the fortunate traders who are in this one, congratulations. However, for the rest of us, hope is not lost. The recent price action has steepened and a correction may be upcoming. Wait for the AUD/USD to touch lower green line to climb on board at around .7340 which is the area of the May 1st breakout. This current steep price action may prove unsustainable.

Kimaki · #**395** (**permalink**) 05-08-2009, 01:24 PM

Hay Greg, see if you can translate this:

.
AUD/CAD, AUD/NZD, & GBP/JPY Long possitions on all, 140, 50, & 111, pip gains with two possitions on the GBP/JPY at the time of this writing.
Thanks

Quote:

Originally Posted by Gregory McLeod

You are welcome. It hit a high of .8848 as of the time of this writing.

Gregory McLeod · #**396** (**permalink**) 05-11-2009, 06:05 AM

Quote:

Originally Posted by Kimaki

Hay Greg, see if you can translate this:

.
AUD/CAD, AUD/NZD, & GBP/JPY Long possitions on all, 140, 50, & 111, pip gains with two possitions on the GBP/JPY at the time of this writing.
Thanks

Congratulations!

Gregory McLeod · #**397** (**permalink**) 05-11-2009, 06:13 AM

The Kiwi Yen may be do for a rest after a phenomenal 4 month climb that took it from the February 2009 lows of 43.80 area to nearly 1700 pips higher at 60.50. MACD divergence is forming on a daily chart as well as Stochastics is entering the overbought zone. This correction could see Kiwi Yen head down between the 50.22 and the 47.40 area before heading back above the recent highs. A break above and a daily close above the 60.50 area would nullify this bearish scenario.

Kimaki · #**398** (**permalink**) 05-11-2009, 07:55 AM

Good morning Greg, hope you had a great weekend, Some of smiles have been erased

and I am wondering about the present outlook for AUD/NZD & GBP/JPY, they both took a sharp dive yesterday with the AUD/NZD never being able to really get past the 1.2765 area and falling to 1.25526. The GBP/JPY got to around 150.425 and encountered strong resistance before falling off to 147.450. They both still look bullish to me although the AUD/NZD raises more question marks. If you have time, can you take a look at these and tell me what you think?
Thanks

Quote:

Originally Posted by Gregory McLeod

Congratulations!

Gregory McLeod · #**399** (**permalink**) 05-11-2009, 08:13 AM

GBP/JPY looks toppy and has failed to leap across the 151.20 hurdle. MACD divergence and overbought stochastics point to lower prices.

Gregory McLeod · #**400** (**permalink**) 05-11-2009, 08:18 AM

Though the AUD/NZD trend is up, a corrective double top just below the 1.3000 handle signals lower prices to follow. AUD/NZD could get down to the 1.2000 area before resuming its uptrend.

Kimaki · #**401** (**permalink**) 05-11-2009, 08:30 AM

I should have seen that coming I did not adjust my support trend line to pass below 139.04 on the 28/04/ 2009, only just noticed the differance on your chart. After seeing 115 pips and looking for more I suddenly stopped out two possitions @ -150 pips. Not to mention Aud/Nzd, Excuse me while I go place my head under a rock.

Thanks

Quote:

Originally Posted by Gregory McLeod

GBP/JPY looks toppy and has failed to leap across the 151.20 hurdle. MACD divergence and overbought stochastics point to lower prices.

Kimaki · #**402** (**permalink**) 05-11-2009, 08:36 AM

Oho I see, she really does look like she will make a trip south for a while. Iguess the signals where there , she stalled too many times trying to get past 1.2765.
Thanks Greg

Quote:

Originally Posted by Gregory McLeod

Thought the AUD/NZD trend is up, a corrective double top just below the 1.3000 handle signals lower prices to follow. AUD/NZD could get down to the 1.2000 area before resuming its uptrend.

Gregory McLeod · #**403** (**permalink**) 05-11-2009, 08:44 AM

Quote:

Originally Posted by Kimaki

Oho I see, she really does look like she will make a trip south for a while. Iguess the signals where there , she stalled too many times trying to get past 1.2765.
Thanks Greg

You are welcome, Robert.

Gregory McLeod · #**404** (**permalink**) 05-12-2009, 07:06 AM

GBP/USD has managed to break above the 1.50000 handle decisively after many false attempts. The cable should find its way up tot he 200 SMA at 15715. Stops should be placed below the MAy 7th low of 14942.

Gregory McLeod · #**405** (**permalink**) 05-12-2009, 07:06 AM

GBP/USD has managed to break above the 1.50000 handle decisively after many false attempts. The cable should find its way up tot he 200 SMA at 15715. Stops should be placed below the May 7th low of 14942.