Daily Forex Outlook

GBPUSD

2010-06-17T00:32:00.000+05:00

GBPUSD is getting towards 1.4920 level and currently a good buy can be seen just around the 1.4715 level. The short term trend might look to reverse into long term selling trend therefore we don’t suggest buy GBPUSD for any extended target above 1.4900 level.

Trade Levels:

Item: GBPUSD

B/S: Buy

Open: 1.4715

Stop: 1.4660

Profit: 1.4875

USDCHF

2010-06-13T18:58:00.000+05:00

USDCHF

seems to have taken retracement in long term trend the RSI is still on higher
side and thus we might see another dip by USDCHF during this week. Currently a
good resistance is seen around 1.1600 level and selling around that level with
small stop is suggested.

Trade Levels:

Item: USDCHF

B/S: Sell

Open 1: 1.1600

Open 2: 1.1650

Stop: 1.1700

Profit: 1.1450

GBPUSD gathering momentum

2010-05-05T10:23:00.000+05:00

GBPUSD is moving in a nice downward trend and seems to gathering momentum to take a dip below 1.5100 level today. Currently a good resistance can be seen round 1.5195 and it will be a good selling opportunity for targets around 1.5100 level.

Trade Levels:

Item: GBPUSD

B/S: Sell

Open: 1.5195

Stop: 1.5250

Limit: 1.5095

USDJPY

2010-03-29T01:58:00.000+05:00

USDJPY

USDJPY after being traded sideways range finally broke into an upward trend and it seems that it take the momentum into this week as well. Currently a good support can be seen just around 92.30 level and buying around that level for initial target at 93.20 seems a good option.

Trade Levels:

Item: USDJPY

B/S: BUY

Open 1: 92.30

Open 2: 91.75

Stop: 91.25

Profit: 93.20

AUDUSD

2010-03-04T01:10:00.000+05:00

AUDUSD is gathering momentum for a rise towards 0.9100 level and currently traders will look to buy around 0.9032 level for initial target at 0.9090 level. Extended target can be set around 0.9130 level.

Trade Levels:

Item: AUDUSD

B/S: BUY

Open 1: 0.9032

Open 2: 0.8990

Stop: 0.8950

Profit: 0.9090

Weekly Overview

2010-02-27T19:18:00.001+05:00

The market as it seems to continue its long term trends during this week and mostly we will find traders looking to enter with the trend on retracement levels. EURUSD will once again look to dip below 1.3500 level and will try to target 1.3400 during this week . GBPUSD might take some early retrace and then will look to target 1.5350 level during this week. USDCHF will loo to test 1.0850 level once again and mostly traders will look to buy for initial targets around that level. AUDUSD and NZDUSD might once again prove to be a mix bag during this week, traders looking to trade them in both ways.

Weekly Overview

2010-02-22T01:18:00.001+05:00

The market is settling back into long term trends and we might be seeing more of with-the-trend trades during this week and might see good technical moves during this week.

Weekly Technical Levels:

Item	B/S	Open	Stop	Limit
EURUSD	S	1.3747	1.3877	1.3485
GBPUSD	S	1.5725	1.5903	1.5368
USDCHF	B	1.0672	1.0576	1.0863
USDJPY	B	90.2000	89.2700	92.0500
USDCAD	S	1.0492	1.0547	1.0383
AUDUSD	B	0.8886	0.8812	0.9027
NZDUSD	B	0.6945	0.6889	0.7057

Market Testing Important Levels

2010-02-17T03:42:00.001+05:00

Market Overview

The market seems to be getting to other side and still there are levels to be tested to confirm the reversal of trends. In the weekly charts, the current move can still be termed as retracement.

Daily Technical Levels:

Item	B/S	Open	Stop	Limit
EURUSD	B	1.3647	1.3575	1.3791
GBPUSD	B	1.5674	1.5611	1.5801
USDCHF	S	1.0752	1.0804	1.0648
USDJPY	B	89.82	89.52	90.40
USDCAD	S	1.0481	1.0515	1.0414
AUDUSD	B	0.8917	0.8859	0.9032
NZDUSD	B	0.6995	0.6952	0.7081

Weekly Overview

2010-02-15T03:16:00.001+05:00

The market was in sort of retracement last week and it seems that the currencies will look to get back in long term trend this week. Still we can find some currencies stopping out trades and test some stops.

Weekly Technical Levels:

Item	B/S	Open	Stop	Limit
EURUSD	S	1.3783	1.3899	1.3552
GBPUSD	S	1.5755	1.5842	1.5581
USDCHF	B	1.0647	1.0536	1.0814
USDJPY	S	90.32	90.81	89.34
USDCAD	S	1.0697	1.0809	1.0472
AUDUSD	B	0.8690	0.8575	0.8919
NZDUSD	S	0.7018	0.7097	0.6858

FX Market Today

2010-02-11T03:32:00.001+05:00

Today’s Overview

The market seems to getting to the end of completion and we might see it settling back into its long term trend. Today’s levels are more suited for aggressive traders.

Today’s Technical Levels:

Item	B/S	Open	Stop	Limit
EURUSD	S	1.3792	1.3843	1.3690
GBPUSD	S	1.5718	1.5791	1.5571
USDCHF	S	1.0711	1.0749	1.0633
USDJPY	B	90.0400	89.2200	89.9300
USDCAD	S	1.0685	1.0727	1.0600
EURJPY	B	124.2600	122.6900	123.5700
GBPJPY	B	139.5900	138.8400	141.1000

Today’s Trading Levels

2010-02-05T12:17:00.001+05:00

Item	B/S	Open	Stop	Limit
EURUSD	S	1.3850	1.3918	1.3713
GBPUSD	S	1.5873	1.5944	1.5730
USDCHF	B	1.0679	1.0716	1.0605
AUDUSD	S	0.8777	0.8861	0.8609
USDCAD	B	1.0637	1.0671	1.0568
NZDUSD	S	0.6984	0.7053	0.6844

GBPUSD looking to gradually make it to 1.3850

2010-01-31T21:50:00.003+05:00

GBPUSD finally took the expected dip on Friday and considering the weekly and monthly charts we can see that GBPUSD is well set to take a dip towards 1.3850 and this target seems to be achieved by GBPUSD as early as this week. Traders will look to sell GBPUSD during this week on rise during its retracement. Currently a good selling level can be seen at 1.6050 with a bit extended stop and look to capture GBPUSD move towards 1.3580 level.

Trade:

Sell GBPUSD @ 1.6050 with Stop @ 1.6325 and Profit Limit @ 1.5850

USDCHF aiming to break above 1.0500

2010-01-26T17:36:00.002+05:00

USDCHF is looking good to head towards its current target at 1.05000 and then break it to set next target at 1.06000 level. Mostly traders will look to buy USDCHF on dip to below 1.0430 level to capitalize on USDCHF moving towards 1.0500 level.

Trade:

Buy USDCHF @ 1.0430 with Stop @ 1.0380 and Profit Limit @ 1.0600

USDCHF taking a breather

2010-01-20T14:54:00.002+05:00

USDCHF after taking a good rise towards 1.0400 level is looking to take some breather towards 1.0350 level and aggressive traders will look to buy USDCHF around that level. Other traders might like to wait and see if USDCHF manages a dip towards 1.0300 level to enter the market.

Trade:

Buy USDCHF @ 1.0335 with Stop @ 1.0275 and Profit Limit @ 1.0415

EURUSD setting itself for another dip

2010-01-18T03:32:00.002+05:00

EURUSD after taking a dip below 1.4350 level is now looking to take some retrace and is looking to set itself up for a another nice move, this time below 1.4300 level. Mostly we will see selling in EURUSD on rise above 1.4400 level. There is a very good selling range between 1.4400 and 1.4450 levels.

Trade:

Sell EURUSD @ 1.4415 with Stop @ 1.4470 and Profit Limit @ 1.4300

GBPUSD heading towards its target 1.6325

2010-01-13T23:23:00.000+05:00

GBPUSD is gradually heading towards its target at 1.6325 but before doing so we might see a retracement dip by GBPUSD towards 1.6200 level and while doing so GBPUSD will provide some decent entries for traders to cash on.

Trade:

Buy GBPUSD @ 1.6225 with Stop @ 1.6150 and Profit Limit @ 1.6400

USDJPY getting overloaded

2010-01-08T18:21:00.002+05:00

USDJPY is moving in a nice upward trend but it seems to be getting overloaded in daily charts and also has reached an important level at 93.50 in weekly charts. We might see USDJPY taking a dip from here towards 92.50 for a short retracement and aggressive traders might think of selling USDJPY around that level for small targets.

Trade:

Sell USDJPY 93.50 with Stop @ 94.10 and Profit Limit @ 92.50

USDCAD setting itself for a dip

2010-01-05T23:55:00.003+05:00

USDCAD seems to be taking retrace to jump above 1.0400 level and then after completing its retrace, make a good dip towards 1.0300 level.

There is a currently a good daily as well as weekly selling level present around 1.0440 level and traders will look to sell USDCAD for a nice move towards 1.0300

Trade:

Sell USDCAD @ 1.0435 with Stop @ 1.0500 and Profit Limit @ 1.0270

AUDUSD looking to break above 0.9000

2010-01-03T23:50:00.002+05:00

AUDUSD is looking to gradually rise above 0.9000 level and head towards its target at 0.9100 level. Currently traders will look to buy AUDUSD for anything below 0.8950 level for initial target just above 0.9000 level and break of that will extend the target towards 0.9100 level.

Trade:

Buy AUDUSD @ 0.8940 with Stop @ 0.8890 and Take Profit @ 0.9020

GBPUSD setting itself for a dip

2009-12-28T17:56:00.002+05:00

GBPUSD is being traded sideways, mainly due to two reasons; first is the low value of RSI which was not allowing GBPUSD to take a dip below 1.5900 and secondly, the trade volume is low due to holidays.

Technically speaking, GBPUSD seems to be opening up its RSI to take a dip below 1.5900 level. Traders will look to sell GBPUSD for anything above 1.6000 level.

Trade:

Sell GBPUSD @ 1.6020 with Stop @ 1.6060 and Profit Limit @ 1.5900

GBPUSD with low RSI

2009-12-26T14:14:00.002+05:00

GBPUSD is looking to take dip below 1.5900 level and looking to head towards 1.5765 level but the low RSI value is pushing GBPUSD upwards and we might see GBPUSD rising above 1.6000 to open up some space.
Currently traders will look to sell GBPUSD for anything above 1.6000 level and initial targets will not be less than 1.5900 level.

Trade:

Sell GBPUSD @ 1.6045 with Stop @ 1.6135 and Profit Target @ 1.5900

EURUSD

2009-12-21T21:24:00.003+05:00

EURUSD is looking good to take dip below 1.4200 level but the low value of RSI is pushing it upwards and we might see EURUSD taking rise towards 1.4400 level. Traders will look to sell EURUSD around 1.4400 level.

We might also see EURUSD trading sideways, one due to low RSI and secondly due to holidays and we might see low trading volume.

Trade:

Sell EURUSD @ 1.4381 with Stop @ 1.4465 and Take Profit @ 1.4200

NZDUSD taking retrace

2009-12-18T15:16:00.002+05:00

NZDUSD seems to be taking retrace after touching its target at 0.7100 level. Currently it seems that it might head towards 0.7158 to complete its retracement but that retracement can further extend towards 0.7210 level.

These will be the two levels traders will be aiming to sell NZDUSD again for a target around 0.7080 level. RSI is around 40 and seems to be pretty good for selling of NZDUSD for target of 0.7080 level.

Recommended Trade:

Sell NZDUSD @ 0.7158 with Stop @ 0.7240 and Take Profit @ 0.7080

EURUSD taking retrace towards 1.4600

2009-12-16T19:24:00.000+05:00

EURUSD

EURUSD is currently taking some retrace towards its 1.4600 level. And 1.4600 seems a very good level for selling and we might see EURUSD resuming its downwards trend from 1.4600 level. RSI is a bit on the lower side around 34 and that is the reason EURUSD is being pushed up but after retracement towards 1.4600 level, RSI will also open up considerably and will have enough space for EURUSD to make a move towards 1.4500 level.

Trade:

Sell EURUSD @ 1.4600 with Stop @ 1.4655 and Take Profit @ 1.4500