Monday, 24 June 2013

Neutral Day

Hello traders and welcome to the beginning of the trading week. A relatively quiet day with no major headlines.

In focus for the week:
- US GDP
- UK GDP
- EUR CPI and employment, and
- JP CPI

Missed out on EUR/JPY setup, but placing an order now on the double pin price signal.
Short @ 128.75 with an initial target of 125. Stop above previous day high of 129.75.


Waiting for a long entry opportunity on AUD/NZD back at 1.18452 level.

Pairs for the week:

Pair Level to
watch
Description
EUR/USD 1.32 Short entry on retracement into this area. Close above to change bias to bullish.
EUR/JPY 1.30183 Short entry price action signal confirmed (double pin). Short order placed.
EUR/GBP 0.85894 Strong resistance area. Watch for short. Close above to flip bias to bullish.
EUR/AUD 1.42362 Keep an eye on price action at pivot level. H4 indicators starting to turn.
AUD/USD 0.93864 Multi year lows. Break of triangle targetting 0.8. Watch for retracement opportunity to short
AUD/JPY 92.4 Short entry on retracement into this area. Close above to change bias to long with next target at 96.8
NZD/USD 0.77596 Short entry on retracement into this area. Daily close above to target 0.785, then 0.79.
AUD/NZD 1.18256 Close above key level confirmed. Retest confirmation before targetting 1.196.
AUD/CAD 0.961 Close above key level confirmed. Awaiting retest confirmation before targetting 0.98.
USD/CHF 0.93822 Testing resistance. Watching for bearish price signal. Close above flips bias to bullish.
USD/JPY 97.856 Watching for short term long entry at 98 level, targeting retest of 100.
XAU/USD 1321.59 Short entry on retracement into this area. Close above to change bias to bullish.
USD/CAD 1.042 Watch for opportunities for long entry at this level.
GBP/USD 1.541 Close below level suggests continuing bear trend. Next target 1.52673.



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