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London Session Analysis 05/04/2012 - Major Pairs
BenniB84

Biedrs kopš Jan 16, 2012  31 ieraksti Benjamin Nathan (BenniB84) Apr 05 2012 at 12:28
My analysis and calls for the day - feel free to follow.

USD/CHF (Avoid for now):

On the H4 chart we see that the rates are very choppy. We see a lower key high at 0.91834 and a lower key low at 0.89988 suggesting a bearish pair. BUT it is a very messy chart. For confirmation on the m15 we can see a clear ranging rate. The key highs and key lows are lower meaning the bears are out to play but for now they are looking timid. I wouldn’t look to trade this today unless the previous key low of 0.89988 is broken to the downside, in which case id certainly look for sell opportunities.

GBP/USD (Avoid):

Ok for the pound, on the H4 we can see it’s a bullish market but then on the m15 it’s very choppy, and it is looking bearish… with contrasting charts in terms of trend and market direction I’ll be avoiding GBP for now, at least until there is a clear market direction. My personal preference for the GBP if I were to trade it would be to buy when 1.60659 is broken or sell when 1.55960 is broken… but for now, its on my avoid list.

EUR/USD (Watch):

On the H4 charts we can see the key low has been broken at 1.31323, however the rally seems to have stopped at that level suggesting support. I would expect a potential retracement so would hold fire from selling the euro.. to confirm this we go to the m15 chart and see that the rate is very bullish, confirming our suspected retracement. I’d look to sell if the rate drops below 1.31067 creating a new low as the rate clears the support. Watch this one for now with the potential to sell later in the day, IF the rate continues to fall below the mentioned rates.

USD/CAD (Watch):

Ok so CAD – we see on the H4 there is clear ranging between the 1.0027 and 0.09868 levels or there about. I wouldn’t look to trade this until the range is clearly broken. Going to the M15 we can see the rate is up, BUT it is still ranging. I’ll be avoiding this for now but it may gain my potential buying interest if 1.00476 is broken – its only 80 pips away so it’s possible, but for now, this doesn’t interest me.

AUD/USD (Sell):

Ok so on the H4 chart we see that the rate is CLEARLY still bearish. If you use your fib to mark out each drop, you’ll see that the rate retraces to the 50/60.1% mark and then continues the down trend. This is BEATUFIL price profiling! Once the rate rises to 1.03550 I would then be looking at the sell. I’d personally look to sell if a swing high is formed around this week – or for those of you that use them, a new fractal. I’d look to take 100 pips-ish if this happens, and the trade goes my way. Time will tell, as we all know the market can go either way.

PICK OF THE DAY (AUD/USD SELL):

Yep, it’s an easy call for me – we can see the rate retracing as I mentioned today. With such a clear price profile, I can’t help but be interested.


PROBABILITY + CONSISTENCY + LOW RISK = REWARD
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Rightmove House Price Index (YoY) (12h 32min)
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EURUSD 1.14416 GBPUSD 1.27513
USDJPY 110.517 USDCAD 1.30629

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