Only charts

$usdjpy is trending this week steadily , currently trading at 113.60¥ , I expect the pair to have clear path towards 114.60¥ during this week. Dollar is gaining strength across the board against euro and sterling . A break below 113¥ will make this trade invalid . Stay long and take minor profit at 114.60¥

Tomorrow , Thursday , is the day you sell usdcad at whatever level you want. Probably at 1.3030-3130 , i know this is a big range , but it will pay off hugely . The fed raised and there is still scope for 2 more hikes this year. There will be some dollar strength of course today and tomorrow before we see a reversal Shortly , i will post a recommendation for trading usdjpy as well.

Usdjpy plunged after reaching 109.80¥ already mentioned in my earlier post today. You should have all made a 25 pips profit then. I think we still have a chance for usdjpy to get back above 110 mark.

The economic calendar today is free except from fed's members "evans" and "williams" who are set to speak todat before and afer the release of FOMC minutes at 18:00 GMT. Low volatility is expected , however I see this event as very critical indicator for the direction of the dollar and it wilĺ decide if majors break the tought trendlines and support areas. Usd/jpy and usd/cad are facing trendlines and failed to break on friday after NFP figures..will they break the trendline after the fomc minutes ??? On the other side , we have eur/usd and gbp/usd which are very well supported at 1.1680$ and 1.3030$ areas respectively... I think we might see these areas and trendlines broken this week...

The dollar has been regaining some strength since friday noon. Usdjpy has recovered 100 pips from 107.30¥ ...the pair might face some tough resistance at current area, however i think we might be heading towards 110.80¥ soon. Resistance area can be found at 108.40 followed by very tough resistance at 108.80¥. If broken , we will have clear way to break the medium term downtrend andstart building new bullish trend targeting a break above 115¥ in the medium term. I am on the side of that reversal scenario unless we see a decisive break below 106¥ on daily or weekly close.

Euro has been rallying since the winning of macron over le pen . Closing above 1.0780$ then cleared the path for eurusd to 1.14$ and then tackling it to reach 1.1770$ so far. Would we see any retracement for the pair anytime soon? You can not tell and going against the trend will always put you in bad positions . So , technically euro would find support at 1.1703$ followed by 200 MA on the hourly chart which currently lies at 1.1650$ followed by the famous 1.1580$ On the other side , next resistance lies at 1.1740$ , followed by 1.1770$ and then multi year low 1.1860$ Fundamentally speaking ,the eurozone is still recovering and the pair is trading at fair value .

The pair "usdjpy" has been on rally since yellen stated "the case for rate hike has strenghtened" , the pair rallied more than 350 pips since friday and it was supported by a trend line on the 1h chart. However the pair is currently testing the upper band of the downside channel. The pair has been in downtrend channel since january and is currently testing the channel up at 103.70-80¥. Trade recommendation : Short the pair at this point targeting 102.20 ¥ Stoploss if the pair closes the day above that area. You can wait for a break of channel and enter long . However put in mind the possibility of rate hike in september. we have two scenarios ; the first one is that usdjpy is going to respect the channel for the moment and pullback to trendline support on the hourly chart where 102.20 lies and rally again from the point and break the channel on the news of rate hike . The second scenario is the pair breaking the channel and testing the upper trend line of the...

Aussie has been playing the role of the tough guy for a while now , ignoring RBA rate cut and advancing more than 150 pips then . AUD/USD also ignored the surprising and better than expected non farm payroll "NFP" report , US economy added 255k jobs VS 180k expected. The US dollar rose against all majors including the australlian dollar , however audusd erased all losses and back to square one before the RBA and NFP. The pair is facing tough resistance at the area of 0.7675 area , where it fell many times from that area , if conquered , we might see 0.7720 which is last defence line against recent highs at 0.7840 area. The pair is not supposed to go there and even if , it will be very good area to short the pair at targeting 0.73$ area as first support , if broken , we will see prices not seen in almost a year , and the pair will be trading between 0.6980 to 0.7180 before resuming its fall. I prefer that scenario and I am on the short side Feel free to join me on t...