19 January 2014

GBPUSD - Support found at the Sep + Dec 2012 highs. But there has not been a definitive move up. There is no real trend and we have been going sideways in a band.

EURJPY - D lower high negative close. Would expect the bias to be down but there is support in the area 140.75 - 141.25.

EURAUD - D closed negative, a relatively small reaction to the key 1.5500 resistance level. At this stage no reason to believe this is anything other than a pause in uptrend.

AUDUSD - D closed negative below the Dec lows but made no real progress lower. A move up to test the support level before moving down further in trend would be no surprise.

4hr charts W pivots

As usual the 4hr charts attached to show the importance of the W pivots, support and resistance levels and the number of moves that can be expected in a week.

13 January 2014

The first week of the year where we might expect volumes to be back to normal. We are typically cautious trading on a Monday morning.

GU - Whilst the W closed positive it ended with the D a doji that could make no progress higher. The 4hr was on a higher low higher high but NFP on Friday was volatile. We are at a resistance level (see the body highs from last 2 weeks and 18 Dec high) so no bias can go either way.

 

EJ - The D chart and the 4hr chart (see post below) show clearly the 142-143 range. No bias.

EURAUD - D closed negative, a lower high, 3 bar reversal, RSI below 50 level. Whilst we are at a support level bias down.

AUDUSD - D closed positive at a resistance level. Bias up.

4hr charts W pivots

As usual the 4hr charts attached to show the importance of the W pivots, support and resistance levels and the number of moves that can be expected in a week.