Wednesday, April 2, 2008

For Thursday

It is a little early to start talking about possible trades for tomorrow, but I have to say that the eur/jpy will probably be a good candidate for a short.

The usd/jpy is coming on a major resistance level created by a 61.8 fibo off of a daily chart. Price really needs to come back to the trendline on 4 hr. Short expected.

The eur/jpy will run into resistance around 161.38 and there will be selling pressure due to profit taking from triple Wednesday. It is in a very wide range as seen on the daily chart. Short expected.

There may be an opportunity to buy in the USD/CAD, this would be a range play off of the 4 hour chart. Long expected.

There is a trendline that can be drawn on the aud/usd weekly chart, I will be expecting that to be broken. Watch for the triangle. Short expected.

We have some fantastic triangle being draw on the eur/usd, usd/chf and gbp/usd which explains the extreme ranging. We have a solid wait and see verdict on those currencies. Long dollar expected.

Same for the nzd/usd. I am looking for a short in both the aud and nzd v. the dollar. Watch for the triangle. Short expected.

Eur/chf is going to come into resistance at around 1.5862 or 1.5900. I like to use round numbers. Expect a short from that. Short expected.

Gbp/chf will see resistance at around 2.0300. Short expected.

Watch the eur/gbp around .7850 or look for a fade if it heads upward. I don't expect it to make a double top, but that would be nice. Watch trendline action.

1.5876 will be an important line for the eur/cad, i would like to see the currency to go up first before getting into a short but that might not happen. Trendline broken, downward pressure.

Eur/aud is in a range on the weekly chart. It should have some selling pressure.

There is a lot of selling pressure being applied to the eur/usd, we will have to see if we can get a push up before it goes down but I feel this is unlikely. Expect sell sometime. Watch.

Gbp/usd is stuck in a fibo range, if it breaks 1.9744 it's going down, we will have to wait and see if it goes up. I don't think it can make it up to 2.0200 but we will have to wait and see. We have an inside bar forming, whatever happens follow the break, especially if its down.

Gbp/jpy coming up on a significant trendline at around 204.50.

Sell xxx/jpy.
Sell xxx/chf.
Sell xxx/usd.

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