Weekly Analysis ( Nov 23-28)

Weekly Analysis ( Nov 23- Nov 28)

USDCHF (+21 Pips) Bought (0.9634) Sold (0.9655)

EURUSD (+36) Sold (1.2476) Bought Out (1.2440)



USDCHF (Undecided)

USDCHF’s was placed as a daily trade after the “holiday consolidation” following a perfect bullish setup. The entry trade was actually placed a couple hours before the opening of the U.S market right after major economic data from Switzerland (KOF Leading Indicator from November). Even though figures came out lower than expectations, the USDCHF retraced several hours after triggering my entry trade near recent support levels (.9630). The USDCHF ha not strengthened enough to past (.9738) resistance levels this MONTH which lead me to conclude that this trade had to be closed short term at the nearest (most recent) resistance level (.9650).

Further Expectations:

No Further Expectations are assessed. Our only objective is to let the market tells the story whether is this trade will continue bullish or bearish despite its long term view….

EURUSD (Bearish)

Our EURUSD trade was triggered after economic data from the Euro Zone (Consumer Price Index and Unemployment Data). Even though figures came out as expected, the EURUSD managed to retrace and then continue upon its bearish trend. Even though this currency pair is projected to decline more this year, our daily trade was clocked at the nearest support area (1.2476) to protect profit and minimize loss.



Further Expectations:

We expect further bearish movements with slight retracements upwards for the rest of this year.

Crude, CAD, Charts, and Chances

Opec's Decision has Energy Producers on crutches, but how long will this last before we see some resistance...?....Long-term...short-term...?

Check out this article from Bloomberg with the latest news...

http://www.bloomberg.com/news/2014-11-27/opec-leaves-output-ceiling-unchanged-at-30-million-barrels.html


The CAD (Canadian Dollar) has weaken as a major player from this latest decision despite its current account statistics.

USDCHF 11.25.14 Snapshot (Potential Setup)

USDCHF is heading towards a key support area which  could leading to a potential setup for the bulls...

EURUSD Snapshot (11.25.14)

US Economic Data could drive the EURUSD into some resistance.

Weekly Analysis (Nov 16-21)

 


Weekly Analysis (Nov 16-Nov 21):

USDJPY (+160 Pips) Bought 116.49 | Sold 118.10

GBPUSD (+15 Pips) Sold 1.5660 | Bought 1.5645

AUDJPY (+13 Pips) Bought 101.49 | Sold 101.62

CHFJPY (-10 Pips) Bought 123.43 | 123.33

EURUSD (+92 Pips) Sold 1.2560| Bought 1.2489



USDJPY (Bullish)

Purchased this currency on a retracement at 116.50 Support Level as it was bouncing from the 116.65 Resistance level after US trading hours. The USD clearly has been bullish since August while recent monetary adjustments to increase stimulus from the BOJ has weaken the Yen across the board. Economic Data from the BOJ along with its interest rate statement for this month really didn’t affect the overall Bullish Trend for the USDJPY. Stop Limit levels where placed around 118.10 Resistance level to protect profit and minimize any loss.

Further Expectations:

We expect this overall trend for the USDJPY to remain bullish despite any minor retracements as of Friday toward the next 119.60 Resistance Levels.

GBPUSD (Bearish)

Shorted this currency around 1.5660 Resistance Levels after US and UK trading hours 11/18/2014. The GBPUSD remained bearish as we expected until it reached 1.5620 | 1.5600 Support Levels as it rallied off the BOE MPC Vote Hike/Cut/Unchanged Economic Data. The GBPUSD rallied bullishly after finding resistance around 1.5720 Resistance Levels leading it back to the 1.5660 Support/Resistance levels where orders were closed to eliminate any further loss.

Further Expectations:

We expect further consolidation around 1.5720 Resistance | 1.5615 Support Levels before any further push below 1.5580 Support Level.

AUDJPY (Bullish)

Purchased around 101.50 Support Levels from our technical analysis from its previous bullish tendencies and the Yen’s weakness across the board. After consolidating between 102.20 Resistance and 101.50 Support, the trade was closed to protect profit and minimize any loss from our previous analysis. The AUD/JPY rallied as of 11/21/2014 as we expected to 102.60 Resistance touching new highs as of 2014 from 2013 Resistance levels.

Further Expectations:

No further expectations have been assessed. We await next trading hours to let the market tell the story.

CHFJPY (Bullish)

Bad Trade….period. No technical assessment or analysis was done before the trade was placed (Lesson #346)

Further Expectations:

No further expectations have been assessed. We await next trading hours to let the market tell the story.

EURUSD (Bearish)

Shorted this currency as it approached 1.2560 Resistance Levels. The Euro has been weakening against the dollar since May. The Bears rallied after the ECB Draghi’s speech 11/21/2014. The trade was closed at 1.2485 Support Levels as it rallied further passed 1.2460 Support.

Further Expectations:

We expected a minor rally to 1.2460 Resistance /Support Levels before further bearish movement down to 1.2200 Support Levels going into next month.