Hi All,
I am back after a week when my system went pop. Now i have replaced my system with a new one and am back on. The past week was a nice ranging week and i do expect the coming week to be so as well. But there are some huge news coming out this week and it could swing the carry trades in either way. The Tenkan got released today and i expected it to have a huge impact but it seems to have fizzled out. Now the other major news is the GB rate announcement with conflicting expectations in the market about it. There are some who expect it to be unchanged but at the same time, there are rumors going around about a rate cut. I personally dont feel that there would be a rate cut but the GB bank is used to springing up surprises and they are also known to be very dynamic. With Fed, usually the ones who spring the least surprises, themselves cutting rates by 0.5, anything could happen with the GB bank. Lets see though.
Below are the supports and resistances for the JPY crosses:-
USDJPY - Important support at 114.65. If that is broken, next support is at 114.45 which is a very strong support and the final major support is at 114.05. On the topside, the resistance is at 115.08 and then at 115.65.
EURJPY - Important support at 163.88. If that is broken, next support is at 163.45 and the final major support is at 163.05. On the topside, the resistance is at 164.15 and then at 164.60.
GBPJPY - Important support at 234.25. If that is broken, next support is at 232.85 and the final major support is at 232.00.On the topside, the resistance is at 235.20 and then a major resistance at 236.00.
GBPUSD - Important support at 2.0385. If that is broken, next support is at 2.0273 and the final major support is at 2.0203.On the topside, the resistance is at 2.0496 and then a major resistance at 2.0566.
If you want to join my trading group/managed accounts, pls mail me at kartram.77@gmail.com.
Happy Trading!!!
Sunday, September 30, 2007
Thursday, September 20, 2007
Supports and Resistances for September 21, 2007
Hi All,
Well, a typical day yesterday with the crosses full of confusion on which direction they need to go. This has been typical for the crosses for the past 2 mnths. Long gone are the days of massive trends when all you need to do was place a trade in the direction of the trend and just sit back and enjoy the profits. Even if they went against your trade a bit, you would always know that they would eventually come back. Nowadays, the crosses are full of short term trends which last only for 2-3 days at a time and you need to think on your feet to keep adjusting your trades according to the trend. Literally, a nightmare for long term traders. I, for one, truly believed that a direction would emerge once the rate announcement was made but that does not seem to be the case. As for today, i believe it would be a good day for longs but today is a Friday and no one really knows what would happen on a Friday. Lets see though. Below are the supports and resistances for the JPY crosses:-
USDJPY - Important support at 114.85. If that is broken, next support is at 114.45 which is a very strong support and the final major support is at 114.05. On the topside, the resistance is at 115.25 and then at 115.65.
EURJPY - Important support at 161.40. If that is broken, next support is at 160.85 and the final major support is at 160.48. On the topside, the resistance is at 162.10 and then at 162.60.
GBPJPY - Important support at 230.55. If that is broken, next support is at 229.65 and the final major support is at 228.90.On the topside, the resistance is at 231.30 and then a major resistance at 231.90.
GBPUSD - Important support at 2.0069. If that is broken, next support is at 2.0004 and the final major support is at 1.9963.On the topside, the resistance is at 2.0135 and then a major resistance at 2.0176.
If you want to join my trading group/managed accounts, pls mail me at kartram.77@gmail.com
Happy Trading!!!
Well, a typical day yesterday with the crosses full of confusion on which direction they need to go. This has been typical for the crosses for the past 2 mnths. Long gone are the days of massive trends when all you need to do was place a trade in the direction of the trend and just sit back and enjoy the profits. Even if they went against your trade a bit, you would always know that they would eventually come back. Nowadays, the crosses are full of short term trends which last only for 2-3 days at a time and you need to think on your feet to keep adjusting your trades according to the trend. Literally, a nightmare for long term traders. I, for one, truly believed that a direction would emerge once the rate announcement was made but that does not seem to be the case. As for today, i believe it would be a good day for longs but today is a Friday and no one really knows what would happen on a Friday. Lets see though. Below are the supports and resistances for the JPY crosses:-
USDJPY - Important support at 114.85. If that is broken, next support is at 114.45 which is a very strong support and the final major support is at 114.05. On the topside, the resistance is at 115.25 and then at 115.65.
EURJPY - Important support at 161.40. If that is broken, next support is at 160.85 and the final major support is at 160.48. On the topside, the resistance is at 162.10 and then at 162.60.
GBPJPY - Important support at 230.55. If that is broken, next support is at 229.65 and the final major support is at 228.90.On the topside, the resistance is at 231.30 and then a major resistance at 231.90.
GBPUSD - Important support at 2.0069. If that is broken, next support is at 2.0004 and the final major support is at 1.9963.On the topside, the resistance is at 2.0135 and then a major resistance at 2.0176.
If you want to join my trading group/managed accounts, pls mail me at kartram.77@gmail.com
Happy Trading!!!
Tuesday, September 18, 2007
Supports and Resistances for September 19, 2007
Hi All,
Well, a great day yesterday with the biggest surprise being the fact that the usually conservative Fed turned radical and cut the interest rates by 50 basis points rather than the expected 25 basis points. This has provided a fillip for the stock markets and hence they flew yesterday and the flight has continued with the Japanese stock market as well. Now we need to wait for the small matter of the Japanese rate statement, which i expect would not change anything, to get out of the way before we continue the upward journey in the crosses. But the cut in the interest rates is not good for the dollar and so i expect the EU and the GU to continue their upward journey. Below are the supports and resistances for the JPY crosses:-
USDJPY - Important support at 115.65. If that is broken, next support is at 115.15 which is a very strong support and the final major support is at 114.80. On the topside, the resistance is at 116.03 and then at 116.40.
EURJPY - Important support at 161.25. If that is broken, next support is at 160.90 and the final major support is at 160.00. On the topside, the resistance is at 162.10 and then at 162.60.
GBPJPY - Important support at 232.80. If that is broken, next support is at 232.00 and the final major support is at 231.20.On the topside, the resistance is at 233.60 and then a major resistance at 234.32.
GBPUSD - Important support at 2.0053. If that is broken, next support is at 1.9950 and the final major support is at 1.9885.On the topside, the resistance is at 2.0156 and then a major resistance at 2.0221.
If you want to join my trading group/managed accounts, pls mail me at kartram.77@gmail.com
Happy Trading!!!
Well, a great day yesterday with the biggest surprise being the fact that the usually conservative Fed turned radical and cut the interest rates by 50 basis points rather than the expected 25 basis points. This has provided a fillip for the stock markets and hence they flew yesterday and the flight has continued with the Japanese stock market as well. Now we need to wait for the small matter of the Japanese rate statement, which i expect would not change anything, to get out of the way before we continue the upward journey in the crosses. But the cut in the interest rates is not good for the dollar and so i expect the EU and the GU to continue their upward journey. Below are the supports and resistances for the JPY crosses:-
USDJPY - Important support at 115.65. If that is broken, next support is at 115.15 which is a very strong support and the final major support is at 114.80. On the topside, the resistance is at 116.03 and then at 116.40.
EURJPY - Important support at 161.25. If that is broken, next support is at 160.90 and the final major support is at 160.00. On the topside, the resistance is at 162.10 and then at 162.60.
GBPJPY - Important support at 232.80. If that is broken, next support is at 232.00 and the final major support is at 231.20.On the topside, the resistance is at 233.60 and then a major resistance at 234.32.
GBPUSD - Important support at 2.0053. If that is broken, next support is at 1.9950 and the final major support is at 1.9885.On the topside, the resistance is at 2.0156 and then a major resistance at 2.0221.
If you want to join my trading group/managed accounts, pls mail me at kartram.77@gmail.com
Happy Trading!!!
Monday, September 17, 2007
Supports and Resistances for September 18, 2007
Hi All,
So, as predicted, the crosses went down yesterday and today, for most of the day, the crosses should be ranging else it would go down. I do not see the crosses going very high from this point. Also, i do not expect the Fed to do much more than cut the rates by 0.25 which would again disappoint the markets. All in all, everything looks set for a drop in the crosses along with a big drop in GU as well. This is something which i am saying thru my gut feel though i could have taken the safe route and not predicted anything cos in this market, nothing is for sure. Anyway, all in all, it should be a good week for trading as todays rate announcement should atleast give a short term direction.Below are the supports and resistances for the JPY crosses:-
USDJPY - Important support at 114.80. If that is broken, next support is at 114.60 which is a very strong support and the final major support is at 114.35. On the topside, the resistance is at 115.03 and then at 115.30.
EURJPY - Important support at 159.10. If that is broken, next support is at 158.65 and the final major support is at 158.25. On the topside, the resistance is at 159.65 and then at 160.10.
GBPJPY - Important support at 228.10. If that is broken, next support is at 227.20 and the final major support is at 226.56.On the topside, the resistance is at 228.90 and then a major resistance at 230.00.
GBPUSD - Important support at 1.9872. If that is broken, next support is at 1.9807 and the final major support is at 1.9745.On the topside, the resistance is at 1.9914 and then a major resistance at 1.9981.
If you want to join my trading group/managed accounts, pls mail me at kartram.77@gmail.com
Happy Trading!!!
So, as predicted, the crosses went down yesterday and today, for most of the day, the crosses should be ranging else it would go down. I do not see the crosses going very high from this point. Also, i do not expect the Fed to do much more than cut the rates by 0.25 which would again disappoint the markets. All in all, everything looks set for a drop in the crosses along with a big drop in GU as well. This is something which i am saying thru my gut feel though i could have taken the safe route and not predicted anything cos in this market, nothing is for sure. Anyway, all in all, it should be a good week for trading as todays rate announcement should atleast give a short term direction.Below are the supports and resistances for the JPY crosses:-
USDJPY - Important support at 114.80. If that is broken, next support is at 114.60 which is a very strong support and the final major support is at 114.35. On the topside, the resistance is at 115.03 and then at 115.30.
EURJPY - Important support at 159.10. If that is broken, next support is at 158.65 and the final major support is at 158.25. On the topside, the resistance is at 159.65 and then at 160.10.
GBPJPY - Important support at 228.10. If that is broken, next support is at 227.20 and the final major support is at 226.56.On the topside, the resistance is at 228.90 and then a major resistance at 230.00.
GBPUSD - Important support at 1.9872. If that is broken, next support is at 1.9807 and the final major support is at 1.9745.On the topside, the resistance is at 1.9914 and then a major resistance at 1.9981.
If you want to join my trading group/managed accounts, pls mail me at kartram.77@gmail.com
Happy Trading!!!
Sunday, September 16, 2007
Supports and Resistances for September 17, 2007
Hi All,
Been a bit busy over the last few days and hence could not post. Over the last few days, the crosses have had a nice run up an down which has been the pattern towards the end of the week over the past 2 weeks. The crosses keep going up over the first 3 days of the week and then start going down over the last 2 days. With the Fed rate announcement scheduled for tomorrow, we should finally be able to get some short term direction from tomorrow. As for today, it should be ranging, with a bit of profit taking towards the end of the day as many traders would not want to risk it just before the rate announcement. I personally feel that either the Fed would not cut the rates at all or if at all, would cut it by .25 both of which would disappoint the stock markets and would lead to the stocks and the crosses going down. The Fed is known to be quite conservative and hence this feeling of mine. The market has already priced in a .25% cut and so anything equal or less would lead to a drop.Below are the supports and resistances for the JPY crosses:-
USDJPY - Important support at 115.03. If that is broken, next support is at 114.70 which is a very strong support and the final major support is at 114.40. On the topside, the resistance is at 115.42 and then at 115.70.
EURJPY - Important support at 159.70. If that is broken, next support is at 159.00 and the final major support is at 158.65. On the topside, the resistance is at 160.20 and then at 160.60.
GBPJPY - Important support at 231.22. 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 231.85 and then a major resistance at 232.80.
GBPUSD - Important support at 2.0051. If that is broken, next support is at 2.0009 and the final major support is at 1.9945.On the topside, the resistance is at 2.0117 and then a major resistance at 2.0182.
If you want to join my trading group/managed accounts, pls mail me at kartram.77@gmail.com
Happy Trading!!!
Been a bit busy over the last few days and hence could not post. Over the last few days, the crosses have had a nice run up an down which has been the pattern towards the end of the week over the past 2 weeks. The crosses keep going up over the first 3 days of the week and then start going down over the last 2 days. With the Fed rate announcement scheduled for tomorrow, we should finally be able to get some short term direction from tomorrow. As for today, it should be ranging, with a bit of profit taking towards the end of the day as many traders would not want to risk it just before the rate announcement. I personally feel that either the Fed would not cut the rates at all or if at all, would cut it by .25 both of which would disappoint the stock markets and would lead to the stocks and the crosses going down. The Fed is known to be quite conservative and hence this feeling of mine. The market has already priced in a .25% cut and so anything equal or less would lead to a drop.Below are the supports and resistances for the JPY crosses:-
USDJPY - Important support at 115.03. If that is broken, next support is at 114.70 which is a very strong support and the final major support is at 114.40. On the topside, the resistance is at 115.42 and then at 115.70.
EURJPY - Important support at 159.70. If that is broken, next support is at 159.00 and the final major support is at 158.65. On the topside, the resistance is at 160.20 and then at 160.60.
GBPJPY - Important support at 231.22. 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 231.85 and then a major resistance at 232.80.
GBPUSD - Important support at 2.0051. If that is broken, next support is at 2.0009 and the final major support is at 1.9945.On the topside, the resistance is at 2.0117 and then a major resistance at 2.0182.
If you want to join my trading group/managed accounts, pls mail me at kartram.77@gmail.com
Happy Trading!!!
Tuesday, September 11, 2007
Supports and Resistances for September 12, 2007
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!!!
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!!!
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!!!
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