Archive for the ‘Bank Flow’ Category

I am looking for a continuation of the uptrend on the USDCHF. At the moment 1.0390 to 1.0400 seems to be providing some resistance. A break above this level should see a push towards the next targeted sell level at 1.0486. As the market approaches the sell area, monitor the price action for a failure off of that zone for a bounce back towards 1.0400 again.

Dustin

In the past several days we have seen most pairs go into a consolidation mode. Most of the currencies have found comfortable ranges and have bounced between those levels creating a choppy volatile environment. For technical traders this has played out well. For the longer term trader this can be a very frustrating period. I have put two examples below to illustrate what we have seen.

The range on the EURJPY has been fairly consistent between 168.10 and 166.90. My preference with the daily highs that are being reached is to look for a failure and a fall possibly back into the 163’s.

On the CHF, apart from a few spikes, the range has been held between the 1.0500 area down to the low 1.0300’s. While this is a large range we still have not seen a clear cut direction with any significant results.

Once again, we wait for a more defined move, and should be able to make another post soon.

Dustin

On Tuesday June 10 I made a post for sells in the 107.30 to 107.35 zone on the USDJPY.  After a spike into the 70’s the pair made a fall into the mid 106.50’s. Traders have reported taking anywhere from 40 to 60 pips on this trade. Congratulations if you were able to take advantage of this opportunity.

So far the rest of the week has seen some volatility and has been a bit choppy. Once we get a more defined move I should be able to make another post.

Dustin