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The Journal Of A Macro Fundamental & Technical Analysis Junkie

  • #21
  • May 17, 2013 9:21am May 17, 2013 9:21am
Quoting Tech-A
USD/CAD hit the 1.0215 target yesterday, though I took profits before. A break above that resistance leave the 50% fib expansion vulnerable to a test. Back below 1.0138 support for a test of the 14.6% 1.0090. {image}
USD/CAD hit the 50% fib expansion target at 1.0277 after breaking through 1.0215 (38.2).

Daily Chart:


Attached Image (click to enlarge)
Click to Enlarge Name: CAD Spot.png Size: 28 KB


Quoting Tech-A
USD/JPY still above support (76.4% fib expansion 101.44) and holding firm, the 100% fib expansion is within reach 103.18 if it can catch another bid. {image}
Been waiting a few days for it to happen, but eventually the USD/JPY runs home to the 100% fib expansion target at 103.18.

Daily Chart:

Attached Image (click to enlarge)
Click to Enlarge Name: JPY Spot.png Size: 30 KB
Twitter: @JustTradingFX
  • #22
  • May 21, 2013 2:50am May 21, 2013 2:50am
EUR/USD has printed a bullish engulfing daily candlestick and testing the resistance formed by the 23.6% fib retracement level 1.2862, a break above here exposes the 38.2% at 1.2967 as a target.

Daily Chart:

Attached Image (click to enlarge)
Click to Enlarge Name: eur Spot.png Size: 38 KB


GBP/USD has printed a daily piercing line candlestick pattern which could signal a move higher. A break of current resistance 23.6% fib retracement 1.5265 could see the 38.2% level 1.5331 tested. Near term support is the 14.6% 1.5225 followed by 1.5159.

Daily Chart:

Attached Image (click to enlarge)
Click to Enlarge Name: gbp Spot.png Size: 50 KB
Twitter: @JustTradingFX
  • #23
  • May 21, 2013 3:07am May 21, 2013 3:07am
Something to consider when looking at yesterdays candlestick patterns is that it was a bank holiday in most of Europe yesterday, so the candlestick patterns may not be a true reflection of market sentiment and price action due to the low volume seen across Europe yesterday. So be careful that its not false prints on low volume.
Twitter: @JustTradingFX
  • #24
  • May 21, 2013 6:13am May 21, 2013 6:13am
Closed out a NZD/USD short at 0.8153 I had running. Also some information on my website www.justtradingforex.co.uk about a project if anyone is interested.
Twitter: @JustTradingFX
  • #25
  • May 21, 2013 7:34am May 21, 2013 7:34am
Big support on GBP/USD at 1.5130, would be surprised if we don't get a reaction around there for a while.
Twitter: @JustTradingFX
  • #26
  • May 21, 2013 7:55am May 21, 2013 7:55am
What I'm listen to right now while trading....

Billy Idol, Cradle Of Love
Inserted Video


Love this song.
Twitter: @JustTradingFX
  • #27
  • Last Post: May 21, 2013 10:37am May 21, 2013 10:37am
Quoting Tech-A
Big support on GBP/USD at 1.5130, would be surprised if we don't get a reaction around there for a while.
Nice 30 pip bounce from the support so far, booked that profit and done for the day.
Twitter: @JustTradingFX
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