Thursday, March 4, 2010

USDJPY (88.40)

USDJPY is nicely heading towards 88.00 level and currently a good selling level can be see just around 88.70 level for a nice intra-day trade. Once USDJPY manages to break below 88.00 level, we will be looking it targeting 87.40 level next.

Recommended Trade:

Sell USDJPY @ 88.70
Stop @ 89.20
Profit 1 @ 88.00
Profit 2 @ 87.40


Saturday, February 27, 2010

USDCHF (1.0733)

USDCHF tested 1.0700 level but was not able to break it and we might see it test it once again. Aggressive traders will look to sell on rise to 1.0790 level and might also use a trailing stop to test 1.0700 level. If USDCHF breaks above 1.0800 level, then traders will look to reverse the position and and look to target 1.0900 level.

Recommended Trade:

Sell USDCHF @ 1.0790
Stop @ 1.0835
Profit 1 @ 1.0710
Profit 2 @ 1.0675


Thursday, February 18, 2010

EURUSD (1.3573)

EURUSD almost touched its target at 1.3530 but was unable to break that level. We expect EURUSD to make another attempt towards 1.3530 and break that level which will also set its next target at 1.3400 level. Currently traders will focus on selling EURUSD on rise to retracement levels and sell EURUSD for a nice intra-day trade.


Recommended Trade:

Trade 1: Sell EURUSD @ 1.3585
Trade 2: Sell EURUSD @ 1.3640
Stop @ 1.3690
Profit 1 @ 1.3530
Profit 2 @ 1.3420


Tuesday, February 16, 2010

NZDUSD (0.7034)

NZDUSD touched its target at 0.7050 and we might see a dip from NZDUSD from that level as there is a good resistance present around 0.7050 in weekly charts. Aggressive traders will look to sell NZDUSD around that level with a short stop and will target a nice intra-day trade along the retracement.


Recommended Trade:

Sell NZDUSD @ 0.7045
Stop @ 0.7080
Profit 1 @ 0.6985
Profit 2 @ 0.6930


Saturday, February 6, 2010

USDJPY (89.24)

USDJPY is moving in a very nice downward trend and this trend seems to go in the manner in the coming week. Currently a good selling level is present at 89.50 level and initial targets are seen around 88.60 level, break of which will set 87.50 as the next target for USDJPY.


Recommended Trade:

Sell USDJPY @ 89.50
Stop @ 90.20
Profit 1 @ 88.60
Profit 2 @ 87.50