Hi All,
The crosses appeared to break some barriers yesterday but guess what, they seem to be bearish again. All my indicators show that the crosses are bearish and for all that you know, we might be back to the levels which we started off yesterday morning. The crosses surely do not seem to know where to go. The days when the crosses were in huge trends, which made them a treat to trade, seem to be long gone. It really does look hazy now and there does not seem to be anything in sight which would make the crosses get back into a trend, one way or the other. The US Fed rate announcement next week could help a bit but even that would be temporary i believe. So for today, it seems bearish but you never know with the crosses. Below are the supports and resistances for the JPY crosses:-
USDJPY - Important support at 114.01. If that is broken, next support is at 113.62 which is a very strong support and the final major support is at 113.30. On the topside, the resistance is at 114.42 and then at 114.77.
EURJPY - Important support at 157.65. If that is broken, next support is at 156.90 and the final major support is at 156.30. On the topside, the resistance is at 158.40 and then at 158.85.
GBPJPY - Important support at 231.35. If that is broken, next support is at 230.40 and the final major support is at 229.65.On the topside, the resistance is at 232.00 and then a major resistance at 232.70.
GBPUSD - Important support at 2.0296. If that is broken, next support is at 2.0255 and the final major support is at 2.0229.On the topside, the resistance is at 2.0336 and then a major resistance at 2.0362.
If you want to join my trading group/managed accounts, pls mail me at kartram.77@gmail.com
Happy Trading!!!
Tuesday, September 11, 2007
Monday, September 10, 2007
Supports and Resistances for September 11, 2007
Hi All,
Another highly volatile but ranging day yesterday. The crosses made all the way down and then came back up again and then finally ended almost where they began their day. The market is still undecided on what it needs to do and as for now, it seems to be caught between a good support as well as a resistance and there needs to be as breakout beyond any of those to see a good direction. But with the Fed rate decision scheduled for next week, the market would not want to be caught out in any direction before that and so till the Fed and the market makes up its mind, i feel that the ranging would continue. There needs to be some news to make the crosses break their range.
Below are the supports and resistances for the JPY crosses:-
USDJPY - Important support at 113.32. If that is broken, next support is at 112.87 which is a very strong support and the final major support is at 112.50. On the topside, the resistance is at 113.90 and then at 114.20.
EURJPY - Important support at 156.46. If that is broken, next support is at 155.70 and the final major support is at 155.10. On the topside, the resistance is at 157.15 and then at 157.80.
GBPJPY - Important support at 230.04. If that is broken, next support is at 228.80 and the final major support is at 228.10.On the topside, the resistance is at 231.27 and then a major resistance at 232.05.
GBPUSD - Important support at 2.0263. If that is broken, next support is at 2.0246 and the final major support is at 2.0221.On the topside, the resistance is at 2.0289 and then a major resistance at 2.0315.
If you want to join my trading group/managed accounts, pls mail me at kartram.77@gmail.com
Happy Trading!!!
Another highly volatile but ranging day yesterday. The crosses made all the way down and then came back up again and then finally ended almost where they began their day. The market is still undecided on what it needs to do and as for now, it seems to be caught between a good support as well as a resistance and there needs to be as breakout beyond any of those to see a good direction. But with the Fed rate decision scheduled for next week, the market would not want to be caught out in any direction before that and so till the Fed and the market makes up its mind, i feel that the ranging would continue. There needs to be some news to make the crosses break their range.
Below are the supports and resistances for the JPY crosses:-
USDJPY - Important support at 113.32. If that is broken, next support is at 112.87 which is a very strong support and the final major support is at 112.50. On the topside, the resistance is at 113.90 and then at 114.20.
EURJPY - Important support at 156.46. If that is broken, next support is at 155.70 and the final major support is at 155.10. On the topside, the resistance is at 157.15 and then at 157.80.
GBPJPY - Important support at 230.04. If that is broken, next support is at 228.80 and the final major support is at 228.10.On the topside, the resistance is at 231.27 and then a major resistance at 232.05.
GBPUSD - Important support at 2.0263. If that is broken, next support is at 2.0246 and the final major support is at 2.0221.On the topside, the resistance is at 2.0289 and then a major resistance at 2.0315.
If you want to join my trading group/managed accounts, pls mail me at kartram.77@gmail.com
Happy Trading!!!
Sunday, September 9, 2007
Supports and Resistances for September 10, 2007
Hi All,
Hope all you guys had a great weekend. This was the weekend for shorts and all those who had shorts open over the weekend should have made good money when the market opened today. Now the market should go up to fill in the weekend gap and once that is completed, it should start going down again. The American session should be very interesting to see if the fall continues or the stocks make a come back today. Today should be a day for the shorts with the retracement accompanying them. I get my S and R using murray maths, history and fibs as well. I give S and R based on the normal daily range for the crosses and there would be occasions when the daily range gets exceeded. At that time a new set of S and R would come into the picture. In other words, the S and R would depend on the price level of the currency pairs.
Since i cannot anticipate huge moves everyday, thats why i cannot give S and R to cover all moves and that is the reason when somedays, the prices go beyond my S and R.
Below are the supports and resistances for the JPY crosses:-
USDJPY - Important support at 112.50. If that is broken, next support is at 111.60 which is a very strong support and the final major support is at 110.74. On the topside, the resistance is at 113.15 and then at 114.06.
EURJPY - Important support at 155.41. If that is broken, next support is at 155.00 and the final major support is at 154.14. On the topside, the resistance is at 155.80 and then at 156.69.
GBPJPY - Important support at 229.00. If that is broken, next support is at 228.05 and the final major support is at 226.10.On the topside, the resistance is at 229.70 and then a major resistance at 231.00.
GBPUSD - Important support at 2.0256. If that is broken, next support is at 2.0194 and the final major support is at 2.0155.On the topside, the resistance is at 2.0318 and then a major resistance at 2.0357.
If you want to join my trading group/managed accounts, pls mail me at kartram.77@gmail.com
Happy Trading!!!
Hope all you guys had a great weekend. This was the weekend for shorts and all those who had shorts open over the weekend should have made good money when the market opened today. Now the market should go up to fill in the weekend gap and once that is completed, it should start going down again. The American session should be very interesting to see if the fall continues or the stocks make a come back today. Today should be a day for the shorts with the retracement accompanying them. I get my S and R using murray maths, history and fibs as well. I give S and R based on the normal daily range for the crosses and there would be occasions when the daily range gets exceeded. At that time a new set of S and R would come into the picture. In other words, the S and R would depend on the price level of the currency pairs.
Since i cannot anticipate huge moves everyday, thats why i cannot give S and R to cover all moves and that is the reason when somedays, the prices go beyond my S and R.
Below are the supports and resistances for the JPY crosses:-
USDJPY - Important support at 112.50. If that is broken, next support is at 111.60 which is a very strong support and the final major support is at 110.74. On the topside, the resistance is at 113.15 and then at 114.06.
EURJPY - Important support at 155.41. If that is broken, next support is at 155.00 and the final major support is at 154.14. On the topside, the resistance is at 155.80 and then at 156.69.
GBPJPY - Important support at 229.00. If that is broken, next support is at 228.05 and the final major support is at 226.10.On the topside, the resistance is at 229.70 and then a major resistance at 231.00.
GBPUSD - Important support at 2.0256. If that is broken, next support is at 2.0194 and the final major support is at 2.0155.On the topside, the resistance is at 2.0318 and then a major resistance at 2.0357.
If you want to join my trading group/managed accounts, pls mail me at kartram.77@gmail.com
Happy Trading!!!
Subscribe to:
Posts (Atom)
