Majors & Exotics [EUR / GBP / JPY / CAD / AUD]

Trend continues...


The sentiments are almost unchanged, slightly pushing USDJPY to weak bearish, with the drop early in EU session. The slide in the USD index might still cap the pair around 97.25-50s. If we see offers above those levels, than that pair will also give way to strong bullish sentiment.

USD weakness continues across the board.

Sentiment is still long in EUR, GBP, short JPY (only USDJPY is weak short)

Reversal

The trend is signalling reversal, with JPY and USD gaining across the board.

Some sentiments and lots traded as of US close:


GBPUSD turned to weak bearish, only a single lot short.

EURJPY and GBPJPY are still bullish, but on the verge of reversal. Added long lots to each pair, and placed reversal stops just below.

Same situation for EURUSD; added a long, but the reversal is very close. Stop and go short right around 1.4090s

GBPAUD and EURAUD turned to long; carrying 1 lot long each

CAD is sold across the board;
USDCAD and EURCAD 1 lot long each; CADJPY 1 lot short


June 4 is candidate to be a reversal day

i really like to read your analysis

EURUSD, and most major JPY crosses have rebounded from the lows of yesterday.

Now, the base we have in EURUSD, around 1.4100, is becoming important. If we continue to stay above that level, we'll see 1.48 in the upcoming days.

I still seriously question the ability to break above 1.48. The pair might linger 1.40-1.50 region for a long time (if 1.41 holds) but don't expect a sustainable rally higher.

thnx obaidah. I sure like to read yours

whats your take?

I'm short biased for both GBPUSD and GBPJPY, there've been some signs of selling appearing clearly in volume before the latest visit to 160.3 .. the down move after that was on increasing volume, not to mention the test on low volume (which is bearish because it appears on upbar) ... daily timeframe is screaming short, the weekly bar looks wonderful too.. from a fundamental point of view, i'm watching closely the market responds for any data comming out of USA, any nigative reaction (usd sell) for nigative data would give a sign that the investors are second thinking the USD and that it might be no longer considered as safe haven,

I wonder as to how they're going to finance their debt.. if this fundamental scenario work out, another sell off disaster might happen to gbpjpy not to mention the weekly bearish HD.

will provide charts later.