Brokers Star - Daily Technical Analysis - page 2
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
25th June 2013
USD/JPY Technical Analysis
USD/JPY H4 Outlook
Price is currently trading at our key support level at 97.00 and the current candle is likely to close and form a pin bar. If price close as a pin bar at this key support level with Commodity Channel Index (CCI) oversold, then we may probably consider to go long at the next candle when price broke the high of the pin bar. Our key support level 97.00 is also a round number/psychology level which will increase the probability of this trade.
However, price is in down trend at this moment, therefore this trade will be more aggressive in profit taking and is more risky. Recommend to trade with smaller lot size or skip through this long setup. We also have a support level at 95.70 which is also may serve as a long opportunity or a profit target for short position. The blue line on the chart is our short term resistance level which may serve as an area for long position to take profit.29th June 2013
EUR/USD Technical Analysis
EUR/USD H1 Outlook
We have a clear down trend in EUR/USD and we also have a resistance level at 1.3063. Price may reject from here and continue the bearish movement. Therefore going short at the green box is recommended however we will still need price action confirmation or any other confluences before going short. This is a short term trade and level therefore it may not suitable for long term position trader.
Our next support level is at 1.2983 where we can take profit there or manage our position by scaling out. If price breaks the support level with strong momentum, we may consider to hold our short positions further.27th June 2013
Gold Technical Analysis
Gold H1 Outlook
Gold continue to breaks through all the ground and keep falling. We have a resistance level at 1272.00 which is just above 1270.00 round number/psychology level. If price comes back to the 1272.00 resistance level, we may consider to go short there (green box) since the trend is still very bearish and there's no sign of reversal so far.
As usual, price confirmation and other confluences is needed before going short to reduce the chances of getting false signals. If price hits the 1272.00 resistance level, then our blue line will become our support level and it may serve as one of our profit target. We may try to scale out our position to reduce the risk exposure of short exposure and scale in where opportunity arise again.
Trade safe.28th June 2013
USD/JPY Technical Analysis
USD/JPY H4 Outlook
Yen continue to move higher as we expected in our 25th June 2013 post (http://on.fb.me/111IlLZ) after price created a pin bar at our key support level at 97.00 which is a round number/psychology level as well. Besides, Commodity Channel Index (CCI) also cross over the -100.00 mark at that time which give us a high probability long opportunity.
Price has hit our resistance level (green line) with CCI overbought. We may scale out our position and manage our stop loss according to the price action, we have a short term support level (red line) which is just below current price which could be a place for traders to place their stops for long positions. Conservative traders may consider to close the position to cash in the profits.
Our next key resistance level would be the 100.00 big round number. This is another level for traders to take profit or scale out position. If price break through the 100.00 mark with strong momentum, then we may see price move higher.1st July 2013
Oil Technical Analysis
Oil H1 Outlook
Short term view of Oil market today. Price is in a up trend as we can see in our price chart. We have our key support level at 96.00 which is also a round number/psychology level. Price may have some reaction here for us to catch. We may consider to go long at this key support level (Green Box) since the trend is still up. Price confirmation and other confluences are needed as usual before entering to avoid any false signal.
We have a short term resistance level just above current price as well (Orange line) Therefore if we long at our key support level, then the risk reward ratio might not that favorable. However, we may scale out our position at this short term resistance level to reduce our risk exposure for long position. If price breaks our key support level at 96.00 with strong momentum, we might see price continue to move lower to our next key support level (blue line).2nd July 2013
AUD/USD Technical Analysis
AUD/USD H1 Outlook
Aussie Dollar is in an obvious strong bearish trend since April 2013. Therefore going short is always safer. Price create a pin bar at our key resistance level at 0.9210 which gives us a short signal. However, there isn't any other confluences from major indicators.
In order to keep our risk small and control our loss, stop loss is needed and in this scenario, our stop loss may placed just a few pips above the high of the pin bar which is shown in the chart with red line. Our next support level is at 0.9120 which may serve as a place for short positions to take profit or scaling out position (green box).3rd July 2013
AUD/USD Technical Analysis
Price action confirmation or any confluences is still needed as usual to avoid any false signals. Stop loss can be placed just above the new resistance level at 0.9120 (a few pips away green box).
Trade Safe.4th July 2013
GBP/USD Technical Analysis
GBP/USD H4 Outlook
Pound is in a clear bearish trend, we have a high impact news just now that cause the big red candle. Before that, price do create a pin bar at our key resistance level at 1.5300 which is also a round number/psychology level. Price consolidate for awhile before the news release, price breaks below the pin bar low which gives us a sell signals there. At the same time, commodity price index (CCI) also in an overbought situation at the time we have our pin bar which is another confluences for short setup.
Price may continue to falls to our next key support level and also a BIG round number at 1.5000. Price may bounce from there, if price continue to breaks lower, then any short position may consider to be hold longer to let our profits run. We have a new resistance level at 1.5130 where we may place stop loss for short position.5th July 2013USD/CAD Technical Analysis
USD/CAD Daily Outlook
Price create a pin bar at our key support level at 1.0420 last week. The next bar close above our pin bar shows us the bullish strength from this support level. Trend is bullish currently but price is moving sideways at this moment (price is waiting for the news before the next big move). For those who have long position on the line, stop loss can be placed at a few pips below the support level to limit our losses.
Our next key resistance level is at 1.0670 where price reacted several times at that price level. If price breaks through 1.0700 which is a round number/psychology level, we may consider to hold on on the long positions. We have Non Farm Payroll from US and Unemployment Rate from Canada. It's recommended to stay aside to avoid the high volatility.8th July 2013NZD/USD Technical Analysis
NZD/USD H4 Outlook
New Zealand Dollar is trading sideways at this moment within the 0.7835 resistance level and 0.7705 support level. CCI has crossed above the -100.00 mark and price creates an inside bar at the support level as pointed on the chart. Price is now moving higher and probably will continue it's move until the 0.7835 resistance level.
This is an aggressive trade as we are countering the overall trend thus it's more risky. For a conservative and beginner trader, it's recommended to stick to the trend and 0.7835 may provide us some short opportunity to ride on the trend.