Daily Technical Analysis by Kate Curtis from Trader's Way

[katetrades]

AUD/USD Testing .9600 Weekly Support (May 28, 2013)

AUD/USD is once more sitting at a key inflection point, which has been an established support level on longer-term time frames. There is no report scheduled for release from Australia today, as this pair could be driven by U.S. data and market sentiment.

Gold prices have been dropping lately, and this doesn’t bode well for the Australian dollar. In addition, the U.S. will be printing its CB consumer confidence figure and is expected to show a huge increase in consumer optimism. The figure is slated to rise from 68.1 to 70.7 this month, following better than expected consumer sentiment data from the University of Michigan.

This might be enough to trigger strong dollar buying that could push AUD/USD below the .9600 handle. The last time it broke below a key support level (1.0200), it plummeted by 600 pips.

By Kate Curtis from Trader's Way

 

[katetrades]

USD/CAD Resistance at Rising Channel (May 29, 2013)

USD/CAD’s uptrend is still very strong as the rising channel on its shorter-term time frame is still holding. The pair recently found support at the bottom, which is near 1.0350, and bounced right back up when the U.S. printed strong consumer confidence data yesterday.

The pair could be on its way to test the top of the rising channel, which is near the 1.0450 minor resistance level. Stochastic has already reached the overbought area, which means that sellers could take control of price action soon.

Take note that the BOC interest rate decision is scheduled today, and this event could provide enough volatility for USD/CAD. Downbeat remarks from BOC Governor Carney could trigger a quick Loonie selloff, but this might not last as he is set to step down from office soon.

By Kate Curtis from Trader's Way

 

[katetrades]

USD/CHF Head and Shoulders Pattern (May 30, 2013)

On its 4-hour time frame, USD/CHF seems to have formed a head and shoulders pattern, indicating a potential reversal from the pair’s rallies earlier this year.

The Swiss GDP is set for release and the economy is expected to have grown by 0.2% for the first quarter of the year. Later on, the U.S. will release its preliminary GDP report but is expected to make no changes to its 2.5% growth rate.

However, stronger than expected Swiss GDP and a downward revision in U.S. GDP could trigger a sharp breakdown from the neckline of the formation around .9600. On the other hand, weak Swiss GDP and an upward revision in U.S. GDP could set off a bounce back to the .9700 area.

By Kate Curtis from www.tradersway.com

 

[katetrades]

USD/CAD Range Setup (June 3, 2013)

USD/CAD is one of the best currency pairs to trade in a ranging market environment. The pair is currently moving sideways on its 1-hour time frame, as it found support around 1.0300 and resistance near 1.0400.

The pair gapped up over the weekend, but the gap has already been filled. Stochastic is still climbing, which shows that there’s still enough buying pressure to trigger a test of 1.0400.

Set a stop beyond the pair’s previous highs to give the trade enough breathing room. Aiming for the 1.0300 bottom of the range could still be a 2:1 trade with a 50-pip stop.

The U.S. ISM manufacturing PMI is the only red flag for this pair today, and the report is expected to tick lower from 50.7 to 50.6.

By Kate Curtis from Trader's Way

 

[katetrades]

USD/JPY Testing Former 99.50 Resistance (June 4, 2013)

USD/JPY kept selling off in the past few trading days as the Nikkei stock index posted sharp declines. This was enough to push USD/JPY back down from the 103.75 area to 99.50.

This level coincides with a former resistance level, right after the BOJ implemented its massive QE program. It could act as support from now on since it lines up with the 61.8% Fibonacci retracement level.

Stochastic is moving out of the oversold region, suggesting that the selloff is overdone and that the pair could head back to its recent highs. A stop below the previous day low of 98.86 and a target around 103.00 would be a good reward-to-risk ratio for a short-term play.

By Kate Curtis from Trader's Way

 

[candle7]

GBP/USD berada diarea 1,5305.

Selama harga diperdagangkan di atas area tersebut, pasangan GBP/USD berpotensi menguat dengan penguatan menuju area 1,53575.

 

[katetrades]

CAD/JPY Rising Channel (June 5, 2013)

The uptrend of CAD/JPY still seems to be intact as the pair is testing the bottom of the ascending channel on the 4-hour time frame. This area is also around the 96.00 major psychological support.

Stochastic has just moved out of the oversold region and is moving up, suggesting that Canadian dollar bulls are in control for now. If that’s the case, they could push CAD/JPY back to the top of the channel or at least midway around 100.00.

Canada will be printing its building permits report in today’s U.S. session and is awaiting a speech by new Bank of Canada Governor Poloz tomorrow. Around that time, Canada will also print its Ivey PMI figure and possibly show an improvement from 52.2 to 55.3. On Friday, Canada will release its jobs report. There are no major reports due from Japan for the rest of the week.

Setting a stop below the 95.00 handle with a target of 100.00 would be close to a 3:1 reward-to-risk ratio.

By Kate Curtis from Trader's Way

 

[dhiaperfumes]

great info...

 

[candle7]

EURUSD:
Totally there is expected bearish movement to the level 1,3180. If the price breaks the resistance level 1,3298 the bullish movement will start to the level 1,3350.
details

 

[katetrades]

USD/CAD Potential Breakout (June 21, 2013)

On its shorter-term time frame, USD/CAD has been consolidating, as though getting ready for a break in either direction. With today’s set of data from Canada, a strong breakout could be in the works.

Canada is set to release its CPI and retail sales data in today’s U.S. session. CPI is expected to be up by 0.4% while core CPI could show a 0.3% uptick. Retail sales are projected to climb by 0.2% while core retail sales could stay flat. Stronger than expected data from both reports could trigger a downside breakout while significantly weak figures could set off an upside break above 1.0400.

A bearish divergence has formed on the 1-hour time frame, hinting that a downside breakout could be more likely. A short order below consolidation and a stop above 1.0400 would yield a good reward-to-risk for an event play.

By Kate Curtis from Trader's Way