Thread: Discuss all about FX open

Originally Posted by TaoJin88

kkitq, agree with you, still waiting for todays important news

do not do trades at this time

I have already stoped trade E/U. confusing in the trend, continue down after retracement or trend turning up, watching...

GBP/USD
resistance: 1.4740 1.4820
support: 1.4600 1.4520
GBP/USD maybe move between 1.4450 and 1.4750.

USD/JPY
resistance: 90.50 91.00
support: 89.50 88.80

EURUSD Outlook
The EURUSD made another indecisive movement yesterday. The pair breakdown the rectangle pattern, hit the bottom at 1.3026 but closed higher at 1.3137. Although we have consistent lower highs and lows since January 08, 2 Doji candlestick appeared in the last 2 days might be a sign of exhausted bullish power. On daily chart, former violated bearish trend line is now has to do it’s job as an important support and violation to the downside could trigger further bearish outlook. The bias remains neutral in nearest term but only a break above 1.3530 area could be a potential violation to the major bearish scenario. Immediate support is seen at 1.3110 area. A break below that support could trigger another downside attempt testing 1.2970 – 1.3000 area once again. Initial resistance at 1.3250-1.3300. CCI in oversold area and heading up on daily chart suggesting a potential upside pressures.

Some analysts say E/U will fall again this week as the market risk rising.

E/U get strong support and up-trend is not clear now, so it's the better don't trade at the moment.

The US Dollar finished the week broadly higher against major forex counterparts, as flare-ups in financial market tensions led to aggressive buying of the safe-haven US currency.

USD/JPY will continue to strengthen. The near target is 92.40. Long it will gain more profits.

UJ H1 charting analysis


Sell limit: 90.60, S/L 90.90, T/P 88.60
Sell stop: 90.00, S/L 90.50, T/P 88.60

EU will drop more I think, anyone short with me?