AlfredTang

AlfredTang

EURUSD came down today from 1.2350 to 1.2275. The drop is a lot sharper than yesterday's rise, which may indicate that bearish sentiment is stronger than bullish sentiment. It looks like it's still going down, but I'm out of the trade because it's outside the Bollinger bands. If it can break below 1.2275 level, I am inclined to sell it. Twice before in February,...

AlfredTang

EURUSD went down pretty hard on the last ECB press conference. The ECB removed its previous pledge to continue its asset purchase programme, causing a jump in the EUR's price. However, price failed to break above 1.2412 and sharplydown during the press conference when Mr. Draghi downplayed the significance of the move, calling it "a backward-looking move without...

AlfredTang

GBPUSD tried to climb on Friday night on weak USD news, but could not break above 1.3862. If it can bounce down from the line on strong USD news with indicators supporting a downward move, I may consider selling it.

AlfredTang

USDCAD looks like it could keep going down for the coming week. Long-term trend is up, but it looks like it's hit the 1.2900 cap, couldn't break it, and has a solid downward day candle coming down from 1.2900. Supporting news: Mixed NFP on 9 March with high employment change but lower earnings than expected (with an already lower forecast), relatively better CAD...

AlfredTang

USDJPY is currently at a strong support level. Will it bounce or break? I'm inclined to take a sell trade, but I'm going to be very cautious with this idea. Trend is strongly down recently, but the 108.50 line has held quite strongly over the past year. Every time price hit 108.50 in the past year, it shot back up to around 111.05 within a week. The same...

AlfredTang

There could be an opportunity for a technical play on AUDUSD for the Monday, 22 Jan. AUDUSD is approaching support level 0.7965 and has been moving across for a week. Could we finally be seeing AUD weakness? No FX news on Monday though, so I'm not expecting wild moves. Risks: - Overall trend is up, so this is countertrend. - Could be affected by the US Gov...