Chart Analysis 23 May 2013

EUR/USD Analysis 

EUR/USD Daily Chart

Yesterday EUR/USD has been rejected off resistance 1.2952 like we mentioned before in our previous analysis. We can then sell this pair if price retrace @1.2917

XAU/USD Analysis 

XAU/USD Daily Chart

XAU/USD H4 Chart

Yesterday the Gold price was dumped at the American session similar to EUR/USD.  Rejecting the EMA 8 in the daily chart opened a door to short opportunity. If price then retrace back to 50% of its yesterday's daily bar then we might find a sell opportunity.

GBP/USD Analysis : Target Hit !

GBP/USD Daily Chart

The GBP/USD did make a huge move yesterday hitting our target profit resulting a +136 pips profit. And the move stops right at the next support 1.5032. We must note this support as important one. Through this post i would like to point out how a good trading set up was made with a 1: 2 Risk /Reward Ratio. Before that, the price was already break the 1.5200 support level forming an inside bar. We figured out that the price might break the mother bar low after it move back down at 21th May.

GBP/USD H4 Chart

 Still on the GBP/USD Analysis we found a near term resistance at the H4 Chart @1.5157. If price then retrace back to that resistance at the H4 Chart we would find a sell opportunity.

XAU/USD Analysis 22 May 2013

22 May 2013   XAU/USD Daily Chart

22 May 2013   XAU/USD H4 Chart

The XAU/USD was trying to break the 1337.xx support level but failed. It made a decisive move to go up instead. Yesteday this pair fell against H4 near term resistance @ 1392.84. But we believe this pair can still go back after rejecting @1360.xx level at the American session.

USD/CAD Analysis 22 May 2013

22 May 2013   USD/CAD Daily Chart

22 May 2013   USD/CAD H4 Chart

USD/CAD has rejected the 1.0292 resistance formed with a large pin bar as we may see on the H4 Chart. As we can see, our weight of the evidence of our technical analysis is that the inability for USD/CAD to close above the resistance level. We also notice that there's a 1.0300 ( double zero ) level that this pair cant penetrate. Through this post , we also like to point out how to put our stop loss. Which is, it should be a little bit above or below the rejection level.

NZD/USD Analysis 22 May 2013

22 May 2013   NZD/USD Daily Chart

22 May 2013   NZD/USD H4 Chart

The NZD/USD was trying to break the 0.8174 resistance level but having difficulties like we mentioned before in our previous analysis. Price then reject the resistance but get back up in the American session. So the rejection move was not pretty convincing. Today we will keep an eye for the resistance level, price might try to re- test the resistance and might open up door for sell opportunity.

USD/JPY Analysis 22 May 2013

22 May 2013   USD/JPY Daily Chart

22 May 2013   USD/JPY H4 Chart

The USD/JPY seems hard to break the 102.76 resistance level. It probably need to retrace back to its support 101.24 or 99.88 to regain its power to go up again. Right now, we prefer to wait the price to retrace back to its support.