Home > Uncategorized > Heads up into Australia, Asia, and Europe

Heads up into Australia, Asia, and Europe

February 1st, 2010 4xLindsay

Majors Review:

GBP/USD: 1.5832 is a number to watch as support from the Short term day chart.  Of course before we can get there we need to break through the 1.59 level which seems to be holding us up a little bit.  Keep a close eye on these support levels, but realize that your day chart is already a couple of days in on the short side so keep profit targets tight if you find a short side trade. Watch the 1.5960's and 70's on your smaller charts for local resistance breaks.

EUR/USD: Strong trend short still remains and little pullback today may need to additional short PIPs into tomorrow.  Key in on a 720 minute chart to see how slight the buying pressure has been.  If you are looking to take it back in trend then please keep it to super active or active opportunities should they arise.  Key light to evaluate for additional buying pressure would be the 180 Minute chart with resistance around 1.3900, keeping in mind the potential to headfake 20 high or so.

USD/CHF: Nice USD strong trend on this one, but again your day chart is overextended.  Even with that said as is key with the EUR/USD, it is so also with this one that the 720 is quite shallow.  It may lend itself to additional buying pressure, but please keep your trades more active  with tight targets.

USD/JPY:The Short term day has finally pulled up a little bit.  If this can continue, you may be able to find a swing long, but be careful because the heavy trends are mixed. You need to pay close attention to behavior around 91.00 and also around 90.00.  We sit directly between them at this point.

USD/CAD: Already delivered what I asked for this morning on Opening Bell...I mentioned that I wanted it to fail at the time that is was around1.0686 and it later fell to a low on the day around 1.0621.  I hope that some of you were able to catch that after the heads up on tradingviews.com this morning.

AUD/USD: This pair has failed as I wanted it to for the last couple of weeks and now I would be perfectly alright with it gaining a bit of strength.  It has rallied back a bit today, but the numbers and chart you need to watch are these: 180 Minute Chart.  This pair really needs to break above the 0.8930 level in order to have an attempt at breaking the latest negative trend.  Because of the fact that it has already moved up today, please be cautious with long side opportunities and keep them to scalping for active trades.

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