Cable

Cable is at the 50% fib level taken from the highs in 31st October 2011 and the lows in mid January this year.There is a trend line stretching from the same highs all the way and is currently acting as major resistance to the pair.With all developments in Europe currently,we will patiently wait to see if it manages to break the trend line and fib level probably during the US session for continuation or will it be rejected for some bearish move after a major correction for the last 10 days or so.I
 

Eur/Gbp

Eur/Gbp is fast approaching resistance at 0.8372 which may prove to be a major huddle.A break above may signal further Euro strength given the current conditions. However a rejection may signal bearish move towards 8300 and lower.Again, a trader must be patient and disciplined enough to wait for the setup to come to and not go for it before it manifests itself.

Good luck trading to all and do a thorough analysis before engaging the market as capital flows begin to trickle back into the market.

Aud/cad

Aud/cad is on a double top formation with highs from October  28th 2011 at the moment and may be headed lower for the next coming days.It has already formed a bearish pin bar on the daily and may just be looking at 1.05000 before moving lower.Lets watch how it goes.

Nzd/usd gartley pattern is still in play. Will wait to see if it breaks below the 200 MA.

Nzd/Usd

Gartley pattern formation on this pair.Kiwi dollar has been strong all along due to its high yield and has out performed all the other asset classes recently.However, today saw minimal movement but may begin a correction downwards towards 7900 after it is rejected by the 78.6% fib level and the 200 SMA.Lets keep an eye out for price action for this pair.Will enter short once price confirms a bearish formation for a few pips.

Usd/Cad

This pair is in an ascending wedge pattern on the daily charts and may offer a significant break out soon.However,there seems to be still not enough capital in the markets and this may cause the pair to continue consolidating for a while.I will be watching closely for a break out to get in but for now I would remain cautious as the market has still not gathered enough pace for price action to effectively drive it.

 Pair made a bearish break with risk aversion kicking in but cannot get passed 1.0084.Most players are still on the sidelines probably waiting for the fed decision later on.Cable has barely moves today and so have most pairs.

This week 16th Jan 2012

Last week ended with a strong finish ;a down grade of as many as 10 European nations including France and Austria whose  AAA+ ratings were cut to AA+.There was also Italy,Portugal and Spain who were more or less not a surprise with the current economic turmoil in the Euro zone nations.Greek talks have also failed and they are inevitably heading towards a default.All these affected the Euro in the early morning trade opening lower and may just begin that descend to the 2500 mark.

The US dollar on the other hand seems to be enjoying further strengthening especially with these kind of issues compounding against the Euro. However,the market still lacks volumes and there is not enough to make a trend that we can honestly follow as retail traders.Last week we had some lackluster news from Australia but we saw it rise well against the dollar as the other Antipodes nation Newzealand continuing to see strength with the construction of Christchurch.

This week hopefully may begin the return of capital back to the markets that may see some good action back.The last two weeks have been very choppy and price action was a little wanting.There has been speculation of interventions by the Swiss and the Yen that we must be very careful when trading.At times like this when they are considered safe haven currencies, they might gather strength on the short fall only to suddenly move in the opposite direction as a result of interventions that come at times especially when we here are sleeping.You can imagine the night mare.

I have a small long position on the GBP/CHF on the daily chart with last weeks Friday bullish daily bar.Closed position for +2 pips.Price action really lacking at the moment.Market movement is very erratic and unpredictable on the short term due to capital sitting on the sidelines.

Aud/Jpy has formed an ascending triangle on the daily charts and depending on the way things are going we are poised for a break out  in my opinion to the downside to the 77.22 mark on my charts.

This I will be watching closely to see how it performs and try to catch the lower break once it is confirmed.Will continue to update as it progresses.We will also be watching other pairs as the week continues to progress.

This are my thoughts and good luck trading out there.Do a thorough analysis and let me know what you find.

Aud/Usd

Trading short Aud/Usd on the weekly chart to the psychological level of 1000.Last weeks data out from the US being stronger than expected is beginning to show signs that risk aversion is back and that the Usd may begin to see some gains as we continue forward with all the Euro crisis that will not go away.Coupled with a technical analysis that shows the pair getting to a major resistance at around 1.0343 and closing lower may be another signal to go lower this week.

This is a swing trade may take a few days to play out.Lets watch it as it progresses.
Closed trade when it crossed the 50% mark on the fib which indicates that the pair may be moving higher for a while.

 

LIVE TRADES

This is a different year with lots of expectations for everyone.Euro is already much lower as a result of rumors of a France downgrade and Greek may default and leave the Euro zone in a few months.North Korea's Nuclear facilities may also weigh further on the Euro as well and other currencies but the dollar may make some gains this year.
Anyway, I will  this year put on some if not all my live trades for us to see and maybe criticize in an attempt to bring in peoples trades and ideas together.This is in an effort to learn from those with much more skills and experiences than what we have and help those that are still new in this business appreciate trading in another level.
We will see how it goes and improve from there as for now good luck to all those trading out there and may this be the year that pips come to us in abundance.