Daily Technical Analysis for Friday, August 31, 2012 - by ForexPeoples.Com
EURUSD
Nice bearish on yesterday. And now, price look bulls correction first. but please, be aware about more big trend that still nice look bearish - I see, after this bulls correction end, the bearish can be here again to test (for the first test) to the demand area (near price 1.2464). So, search for Nice Sell = better.
GBPUSD
As likely on EU condition, till now, I see this GBPUSD on likely to bulls correction (first). But, please note, it's look just a bulls correction. At the big trend, I still see the nice bearish here. And probably price to more bearish (after that bulls correction end) can be play here = with nearest bearish target to touch that quite strong demand area (near price 1.5753). Search for Sell for today trade = nice idea = with using max. SL above that Pivot (above price 1.5822), I see.
USDJPY
On the more big trend = this pair (USDJPY), this pair still look to be more bulls after we see the price was pullback from that strong demand area (near price 78.45). Then, for now, price was look to re-test again to near that demand. After that re-test (for first time re-test) happen = yes, that also good time to search for nice Buy OP here. Use your Wise MM. The Max. SL for Buy OP can be set bellow the price 78.45, I see. And Good luck for your trade.
USDCHF
The bulls trend still look here. But, of course, the bearish correction to max. near tat pivot (0.9587) can be play first here now. But, truly, on my simple analysis = this pair try to be more bulls to archive it's bulls and to test the strong supply (0.9636). So, search for nice Buy = Good idea here (for today trade), I see.
Regards.
EURUSD
Nice bearish on yesterday. And now, price look bulls correction first. but please, be aware about more big trend that still nice look bearish - I see, after this bulls correction end, the bearish can be here again to test (for the first test) to the demand area (near price 1.2464). So, search for Nice Sell = better.
GBPUSD
As likely on EU condition, till now, I see this GBPUSD on likely to bulls correction (first). But, please note, it's look just a bulls correction. At the big trend, I still see the nice bearish here. And probably price to more bearish (after that bulls correction end) can be play here = with nearest bearish target to touch that quite strong demand area (near price 1.5753). Search for Sell for today trade = nice idea = with using max. SL above that Pivot (above price 1.5822), I see.
USDJPY
On the more big trend = this pair (USDJPY), this pair still look to be more bulls after we see the price was pullback from that strong demand area (near price 78.45). Then, for now, price was look to re-test again to near that demand. After that re-test (for first time re-test) happen = yes, that also good time to search for nice Buy OP here. Use your Wise MM. The Max. SL for Buy OP can be set bellow the price 78.45, I see. And Good luck for your trade.
USDCHF
The bulls trend still look here. But, of course, the bearish correction to max. near tat pivot (0.9587) can be play first here now. But, truly, on my simple analysis = this pair try to be more bulls to archive it's bulls and to test the strong supply (0.9636). So, search for nice Buy = Good idea here (for today trade), I see.
Regards.