SE1 Capital Markets

Evolving to Consistency

Browsing Posts tagged Extreme Levels

GBP/USD, August 3

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GBP/USD, August 3, 7am UK Time

After reaching 1.59 yesterday, cable consolidated through the Asia session and is about to find direction after the London open. This has the energy to break 1.6 and is still in an up trend, but we should all stay cautious that a correction is statistically overdue after a multi day increase.

GBP/USD, August 3, 7am UK Time

GBP/USD, August 3, 7am UK Time

EUR/USD, July 29

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EU/USD, July 29, 1pm UK Time

Ongoing USD weakness lead to a breakout of EU/USD above the 1.3040 level. I tend not to trade EUR/USD today. This has more upside momentum, but I don’t like the risk-reward ratio for longs at this level. Don’t forget that the whole market called parity just a few weeks ago!

EUR/USD, July 29, 1pm UK Time

EUR/USD, July 29, 1pm UK Time

AUD/JPY, July 20

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AUD/JPY, July 20

Asia was active, as called by @tradercisco, and we finally we broke out of yesterday’s range to the upside and quickly moved to the next Fibo level, which also marks the upper end of a long term channel (marked in red). Like yesterday, this zone is very congested (Daily R2 at 76.4483, 38% Fib at 76.50, end of the range at 76.54 at 100% of the Fib at 76.77. Don’t buy in this zone before it clearly breaks.

AUD/JPY, July 20, 9pm UK Time

What a day. AUD/JPY made its usual move back and finally up to the next level, blasting quickly through the 77 level. I am seriously considering trading higher time frames and wider stops with volatile pairs like AUD/JPY. I got caught up a few times in the random oscillations and didn’t make the obvious pips. Note to myself: Only trade Yen pairs at extreme levels.

AUD/JPY, July 20, 9pm UK Time

AUD/JPY, July 20, 9pm UK Time

NZD/USD, July 16

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NZD/USD, July 16, M30, 8am UK Time

NZD/USD in an 8 day up trend, broke all sorts of long term down trends and took a breather after peaking at .73. Fib lines and decision zones will determine if the move down through Asia was the turnaround or just a pullback. Watch the 61% and the 50% Fib level. Trade what you see and don’t forget its Friday, i.e. targets like to set and achieve aggressive targets.

I am not that good at trading markets in extremes and won’t trade today. See you later for the evening update.

NZD/USD, July 16, 8am UK Time

NZD/USD, July 16, 8am UK Time

 NZD/USD, July 16/17, Midnight UK Time, H1

The pair behaved perfectly today – it set and achieved an aggressive target, as mentioned in my morning post above. After peaking at .73 we saw quick pullbacks to the 23, 38, 50 and 61%Fib level. The latter, as expected, showed more resistance, but broke with a big bang to the downside, sending the pair downt to the 100% re-tracement level at about .71. After an 8 day up move, this was a very logical and highly probable trade. Hope many of you out there took it.

NZD/USD July 16/17, Midnight UK Time

NZD/USD July 16/17, Midnight UK Time