British Pound had a good day today. It soared from 1.5894 to 1.6030. Looks like the very near term resistance is at around 1.6060 on the daily chart. Is it going to take it out and never look back?
What a crazy day today. Just as I thought EUR/USD was trading lower and might break the support line, it rocked during the U.S. session for whatever the reasons. Who knew?
Looks like within a day or two, we either see it trading below 1.30 or it may try to revisit the 1.33 area.
Just entered long on GBP/USD hourly chart due to a trend break. Bought at 1.5854. Stop loss at 1.5800 because two recent hourly lows were 1.5804 and 1.5808. Take profit is at 1.5932, but that can change.
USD/CHF almost reversed the trend last week, but failed to do so. Along with EUR/CHF, both pairs were approaching SNB’s red lines; 0.90 and 1.20, USD/CHF & EUR/CHF respectively. I thought SNB was not too happy to see that and would probably intervene again.
Today’s FED minutes finally pushed the bullish button. Another round of QE3 from the FED is not imminent. Dollar soared.
Now, EUR/JPY has had a nice run up from 97.00 to 111.40 in a matter of 2 1/2 months. On the daily chart, it looks like it’s about to take a breather. Being Friday, I am not sure if it’s a good idea for me to open a position. I think I’ll wait.
