GBPUSD at Resistance

Resistance at this level seems to be holding up as price turns south after touching it.

GBPUSD H4

EURJPY Channel For Next Week

EURJPY H4

EURJPY Channel trade. 

Plan to short near the channel's upper trendline and to go long near the lower trendline.

AUDUSD Support-Resistance Levels For Next Week

AUDUSD H4

The price is still confined in 1.06-1.01 range. And in between them there are couple of support-resistance levels to watch for. 

Currently price is pulling back from support-turned-resistance area around 1.0335. Above this lies another resistance at 1.0370/75. 

I will be watching these level next week closely for any potential trade setup.

EURUSD Support-Resistance Levels

EURUSD H4

Currently price is hitting channel's lower trendline. Just above that lies a big resistance level. 

A good momentum is required to break the resistance level. Price action was unable to it on several previous occasions. 

I will be watching this area next week closely for any potential trade setups.

GBPUSD Long Trade Setup

GBPUSD Daily

Area around 1.5250/60 has provided a good resistance in past. 

In previous many sessions price has tried to cross the resistance level but it has failed. On Friday, post NFP rally price has not only closed above the resistance level but it has also made good gains above it. 

I expect the resistance to turn support on any dips. Price action looks bullish in medium term. 

Any dips towards the support level 1.5250/60 should be considered as buying opportunities. 

AUDUSD Double Top

AUDUSD Hourly

Pair has made a double top and letter M on hourly charts. 

Currently price is near to neckline of letter M formation and might see a bounce to upper resistance. 1.04 area will be a good resistance now. That would be a nice place to enter shorts.

I will be wait for any spikes towards 1.04 resistance area to enter shorts.

EURUSD Channel Holding Up

EURUSD Hourly

Yesterday's rally after ECB meeting stalled right at the channel's upper trendline. 

A break above the channel will push the pair higher and mean that a short term bottom at 1.2750 is in place. 

GBPUSD at Resistance 1.5255/60

GBPUSD Hourly

Yesterday's big spike stalled just short of the big resistance level around 1.5255/60

This is a big resistance level and price looks little over-brought. So I am expecting a pullback till the trendline before up move resume, if it have to.

EURJPY Short Trade Plan

EURJPY H4

Although after today's Yen weakness, shorting XXXJPY pairs is not a good idea but the today's moves seems exorbitant. 
I also favor shorting Yen, but currently I am looking for a pullback. Its purely a technical trade and currently price looks very overbrought on all timeframes. 

There's a descending channel on H4 charts and price is trading inside it since last week of Jan-13. Price is near to channel's upper trendline. 

I plan to short, small size, on touch of the channel. That area comes around 124.75/80. I am looking for a pullback. Stop will be on H4 close above the channel. 

GOLD breaking short term triangle

GOLD M15

Gold broke the short term triangle. 

Looks like a bottom in place. 

For bigger picture and my trade plan, see post.

Next resistance comes at 1560. 

GBPUSD Major Support

GBPUSD H4

We might be in for a bounce after yesterday's drop. 

Currently price is touching a major support area which is held since long. This area comes around 1.5075/80. 

I went long at 1.5085 and looking for a bounce here.

-----------------------------
UPDATE:
I banked long trade at 1.5140. A total profit of +55pips..

GOLD at Major Support

GOLD Daily

I am watching this setup from past few sessions. 
GOLD has been trading in a daily triangle since long and now is touching the lower trendline.
Just below the trendline comes another major support area. 

EURUSD Channel

EURUSD Hourly

Pair is drawing up a falling channel and currently price is in middle of it. 

Currently price is at support-turned-resistance and if price goes thru it then next resistance comes at channel upper trendline which has been held since Feb-2013. 

AUDUSD Daily Range

AUDUSD Daily

Looks like AUDUSD is range bound between 1.06 and 1.0150. Price is oscillating between these levels since August-2012. 

After the recent RBA statement, price are moving up, but I expect that to be limited. I am planning to short the pair near to trendline, which has restrained price previously also. This area comes around 1.05.

USDCAD Channel in Play

USDCAD Hourly

This is the channel I am looking to trade out today. Price is bouncing after touching lower trendline.

There is also horizontal support at this area and price bounced from it previously. 

I am long from 1.0170 and looking towards mid of the channel.

GBPUSD At Big Support-Turned-Resistance

GBPUSD Daily

Level around 1.5250 has been a big support previously. 

This time price is again at that area but from downside. So I expect this level to become support-turned-resistance. 

I entered short at 1.5245 with a stop at daily close above the resistance area. 

EURJPY Ranges

EURJPY Hourly

Looks like pair constrained between 124 and 121.50 area. 

Area around 124 is support turned resistance and price has backed off twice from that area. 

Price action looks rangy and I would like to play ranges by shorting pair around 124.

USDCAD Resistance Turned Support

USDCAD Daily

I was watching this trendline from past few sessions but I missed out this trade opportunity. Trendline is support now after being broken.

I am looking to go long on touch of trendline, in case it happens, with a stop on daily close below the trendline. The long entry area comes around 1.02/90 figure. Price bounced right from that area yesterday.

EURJPY Support Holding

EURJPY Hourly

I was watching this channel from past few sessions and along with the recent drawn trendline joining the recent lows. The confluence of these two was expected to be a good support and price bounced right from it. 

As I tweeted yesterday, I went long at 122.20 on touch of the trendline and currently my stop is BE. I am looking towards mid of the triangle to book profits. 

GBPUSD Broke The Resistance Line

GBPUSD Hourly

Recent GBPUSD strength has broken above the resistance line which was holding up since Feb. 

It stalled just few above 1.52. 

I am expecting the trendline to become resistance-turned-resistance and looking to go long on touch of trendline with stop at hourly close below the trendline.