Sunday, August 19, 2012

NZD/CHF

The pair is on a decline following uptrend break, it is now in a declining channel and currently challenging its support @ 0.7835 which gives us  a triangle setup.

Failure to break support and TL resistance breakout can send the pair back to 0.7950

If support doesn't hold, bearish decline may accelerate towards 0.7750

NZDCHF - 4H 


NZDCHF - Daily

NZD/JPY

See below NZDJPY Daily chart, the pair has been ranging for the past two weks between 63.13 support and 64.50 resistence, a break to the upside will target 65.50 while a failure to break can bounce the pair back to 63.13 support.



NZD/JPY - Daily

CAD/CHF

This pair offered an excellent swing trading opportuniting uppon breaking its multi months resistance @ 0.9400, currently it is trading close to its next major resistence @ 0.9900 and is supported by a rising TL from June 29th.

We will be looking for a breakout of 0.9900 to target parity first as a psychological level and 1.0340 next big resistance (see weekly chart below)


In case price is unable to break 0.9900, the pair might bounce back to nearest support @ 0.9600ish, break of rising TL can be a good entry for shorts.




CADCHF - Daily


CADCHF - Weekly

Saturday, August 18, 2012

GBP/JPY

This pair managed to break to the upside after ranging for 6 days between 121.75 and 123.20, then it also broke next resistence @ 124.50ish then ranged on friday between 124.50 and 125.00 forming by the way a bullish flag setup providing us with a nice breakout trade opportunity.

The range support and resistence will be our levels of interest, in case of bullish breakout we will be tragetting 125.50 then 126.75 which is the next major resistence.
In case of bearish breakout the targets will be 124.00 then 123.20 supports, though it will be better to have confirmation of both support and ascending Channel support breakout to short this pair.


GBPJPY - 1H