Charting TRYZAR

Apr09
by trywalker on April 9, 2013 at 12:35 AM
Posted In: trading ideas

Real money interest to buy EM-JPY post BOJ and softer NFP urges us to look for relative value trades in EM universe.

CBRT’s stance against currency appreciation vs. market positioning in South African Rand with bearish news already priced in takes our attention to open a strategic TRY/ZAR short position.  So sell on a rally at 5.0850 and add more at 5.1280 with a stop at 5.1750 for a test of 4.69/4.73 area in medium term or stay short after  a daily close below 5.02 with a stop at 5.0875 and look for a test of 4.9150.

TRYZAR Weekly

TRYZAR Daily

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Charting AUDCAD

Feb28
by trywalker on February 28, 2012 at 5:22 PM
Posted In: trading ideas

AUDCAD had been trading in a range of 1.0625/1.0725 for a while, and finally managed to break higher overnight.  Pair has a very good correlation with risk on/off momentum, and it feels like as long as closing the day above 1.0685, there is a good chance of testing 1.0790/95 and breaking it higher.  So go long AUDCAD here at 1.0720, stop at 1.0680, targeting 1.0790 and higher.


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Charting USDJPY

Feb28
by trywalker on February 28, 2012 at 7:40 AM
Posted In: trading ideas

USDJPY traded up to 81.66 yesterday morning, but since local exporters’  USD exposure related hedging into the month end in addition to EURJPY correction which was expected in previous post led pair having a retrace down to 80.13.  Intraday charts suggest a resistance at 80.60/65 level, and stops parked below 79.80. I think there is a good risk&reward ratio at the moment for a short USDJPY position, so sell here at 80.47, stop at 80.68 and target 79.85 on the downside.

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Charting EURJPY

Feb27
by trywalker on February 27, 2012 at 6:36 AM
Posted In: trading ideas

EURJPY 240 Minutes

EURJPY rallied up to 109.95 overnight high after a clean break of 200 day SMAVG at 107.10 and 2 important fibonacci levels around 107.20/30 area. Exporter supply is significantly appeared around 109.10/20 area, and it feels a retrace down to 108.00/108.10 is more likely to happen.  so sell on a break of 108.80, stop at 109.25 and target 108/108.10 on the downside.

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