Trading Week Analysis for Week 16/4/2012

Note: I have posted 2 reviews today, Saturday 14/4/12; My Indices Review and my Trading Week Analysis.  Only one e-mail alert will be sent though most likely.  Please make sure that you read the Indices Review so that you understand my perspective for the week.

E/U: 

The daily chart: The 1.3 level is still holding up price whilst it continues to trade within a descending wedge pattern.

I will look to SHORT the E/U on a clear TS signal and if price breaks, closes and holds below the 1.3 level.

I will look to LONG the E/U on a clear TS signal and if ‘risk on’ sentiment returns.

E/J: There was mention over recent days about the BoJ intervening to prevent the Yen appreciating too much.  I will thus be wary again with shorting this pair and, for that matter, all Yen pairs.

The daily chart shows how price has bounced around under the daily 200 EMA.

I will look to LONG the E/J on a clear TS signal at 105 if ‘risk on’ sentiment returns.

I won’t SHORT the E/J.

A/U:

The daily chart shows how price is now also forming an ascending wedge with the green trend line 4hr 200 EMA forming the upper trend line. This is within a larger symmetrical triangle as well.

I will look to SHORT the A/U on a clear TS signal and a break, close and hold below the daily triangle trend line and weekly pivot but I will be wary with this pair!

I will look to LONG the A/U on a clear TS signal and a break, close and hold above the 4hr 200 EMA and if ‘risk on’ sentiment returns.

A/J: This pair is quite messy at the moment. I would only trade this pair long if there was a clear TS signal on the 4 hr chart.

The daily chart: shows how price has been supported by the 200 EMA.

I will look to LONG the A/J on a clear TS signal and a break, close and hold above the 4hr 200 EMA and triangle trend line and if ‘risk on’ sentiment returns.

G/U: I don’t usually trade this pair.

The daily chart: shows how the daily and 4hr 200 EMA have held price up over recent sessions. Price is trading within a descending wedge pattern; price is supported by the daily and 4hr 200 EMA and held by the bear trend line.

I will look to SHORT the G/U on a clear TS signal and if price breaks, closes and holds below the 4hr 200 EMA.

I will look to LONG the G/U on a clear TS signal and if ‘risk on’ sentiment returns and price can break, close and hold  above the upper trend line.

USD/SGD

The daily chart shows how price has broken out of the symmetrical triangle. This was the best TS trade of last week! There is horizontal support below current price at the 1.241 level.

I will look to SHORT the USD/SGD on a clear TS signal, if ‘risk on’ returns and if price breaks, closes and holds below the 1.241 level.

I will look to LONG the USD/SGD on a clear TS signal and if ‘risk off’’ sentiment continues. 

    

Swissie: I’m not trading this pair but it, too, is still trading within a symmetrical triangle pattern.

U/J: I’m wary with this Yen pair too.  It has fallen whilst the USD has been rising.  I would only trade this LONG on a TS signal if the USD keeps rallying and this pair broke out and up from the flag pattern.

Loonie: I don’t trade this pair but it is becoming more interesting as it trades closer into the apex of the weekly symmetrical triangle.

Gold: Price is bouncing around between the monthly and weekly pivot.