London session review and outlook April 30 - 2012
Review of markets covered in today's edition of Bulls vs. Bears: EUR/USD, GBP/USD, AUD/USD, FTSE100, S&P500, Gold, Brent Crude and WTI.
Regards
Alejandro Zambrano
Currency Strategist | DailyFX Forum (London) azambrano@fxcm.com
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Only updating the 2 hrs chart here since it is in play for now.. 6242-44 supp but prime ribs to around 6195-6200 lvls..
GL..
Well that 6200 supp has inclined higher been a part of an ascending wedge.. Currently price has managed to closed under the wedge base of 2 hrs but holding at supp on 8 hrs. Most preferred lvl where the drop to continue is 6040-55 but as of now if the price can stay under 2 hrs wedge base now a resis at 6232-35, the decline should continue to 6150-55 for today..
EURO on the other hand hitting 3278 dual supp and a very imp one.
USD has managed to hold 9825 and broken higher to 9841 clean. Expected move up on 30 mins is to 9862 but on the bigger time frame and esp on 4 hrs could hit 9910 from here onwards..
GL..
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
any predictions for GPB/USD?it seems to be locked.
Hello Farfar,
GBP/USD is correcting part of the last few day's gains. I expect price to create a low above 1.6150 before the end of the day and that we will be trading close to 1.6250 tomorrow. We have limited downside but if price breaks out under 1.6150 will the trend turn bearish and we can expect further declines.
i have two strong supp, one being the weekly pivot (1.6200 orange) and the other the monthly (1.6100 red)
we on the first supp but by the look of it we ganna break and head further donw to 1.61.
a bounce is possible to 1.6250 before we clearly break the weekly pivot thou if we do break here, should be a strong move down.
hourly delta - no.1 bottom is in (blue) - two possibilities left :
1. no.(1) top is in, no.2 bottom is in -up to no.3 tomorrow 9.30 London time.
2. no.2 top soon - down to no.3 tomorrow 9.30 London time.
the hourly trendline has been broken, but this is Cable so we can still go up. 1.6189 was .50 fib from 1.6079,100sma held - measured targets 1.64-1.655.
offers are whispered at 1.623-24 (hourly kumo flat bottom,kijun sen)- above I think short squeezing will contninue.
Expecting 6238-41 to hold for a push lower to 6175... carries only a small detail and done it on the chart...
GL..
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
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Originally Posted by Alejandro Zambrano
Charts from today's edition of the webinar Bulls vs. Bears @ The Trading Room 10:30 GMT (11:30 UK time or 06:30 EST Mon - Fri)
