7 Aug 2008

Reported at 0800hrs SGT

GJ/ GU

GJ rebounded off EMA100 on Tuesday and rebound off EMA55 yesterday. It went on north to test the resistance at 214.

Now WMA5 lies between EMA21 and EMA200 -212.9 and 211.9. Of course, the further constraint is at 214 and EMA100 at 210.6.

Looking at how GBP perform - especially on GBPUSD, which nearly hit a year low. It has only one last support - 1.940 and the question is whether it can rebound?

The USD has been strengthening for the last 3 weeks and it should do a breather.

In my opinion, GU may test 1.94 and that will push GJ up to test 214. EU has reached EMA200 and will definitely take a breather. Therefore GJ may not have the momentum to run towards 215.

GJ

GU

6 Aug 2008

Reported at 1230hrs SGT
GJ
It came down to EMA200 and tested EMA55. WMA5 still maintained abov EMA200 at 212.

Again support is at EMA100 at 210.6, should WMA5 move down below EMA200.

Resistance is at 212.8 (EMA21), then 214.

The fundamental is not about th strengthening of the Yen, which is mix against th majors currencies - but the weakness found in GBP. But in my opinion, GBP is just taking a breather.

GU
Support is at 1.950 region, reference from lows of 5 Jun and 13 Jun.

Resistance is at1.980, EMA100

The major currencies against USD has hit EMA200, som like GBP/USD and AUD/USD has punch through EMA200. Somewhere it need a breather below it can go further down.

Reported at 0730hrs SGT
GY
WMA5 went through EMA21 and now sandwiched between EMA21 and EMA200. EMA200 will give the support as it can be seen for the last few days. EMA55 too give good support given its nearest to EMA200. As such support is at 211.9 and 211.6.

Should WMA5 punch through, expected the next support at EMA100 at 210.4.

On the contrary, GY can do a short rebound to EMA21 at 213 and unless it breakout of EMA21, the next target is 214.

GU
It hit the support at 1.964. Should it continue its steam in the down trend, support is at 1.950, before going to a year low at 1.932.

Rebouncing from 1.964, GU will face resistance at 1.9800, then 1,985.

3 Aug 2008

Reported at 0730hrs SGT
GY
Will GY hold its ground at EMA200? So far WMA5 is still above EMA200. That formed the first support at 211.9. The good news is that EMA55 is not too far away and that gives another support at 211.6. This range will be critical for GY today, before it fall back to 210.4 (EMA100).

The range 211 has been the support before the breakout to 215 and therefore dform a good testing ground.

On the other hand, GY can always rebound to 213 (EMA21) and 214.

GU
USD has strength,en given so many days of weakening. It should find its support at 1.969 and 1.964. CCI has showed sign of a double bottom formation and that may sown a strong recovery today.

Resistance is at 1.98 than 1.985, before any consolidation before breaking north

1 Aug 2008

Reported at 1200hrs SGT
GY
The downtrend will continue and at present it look like GY will hit support at EMA21 at 213.2. Using a Fib retracement from 23 Jul Peak to 16 Jul low, the adjustment range for the first support is at 212.9. Expect to hit this range today.

Should it continue down, the next level of support is at EMA200 at 211.9, else resistance is at 214 then 215.

GU
It should be supported at EMA100 at 1.9800, but should it go down further, expect it to reach 1.9700. CCI show sign of reversal and together with DOW performaning badly, it should rebound.

Resistance is at 1.9900, then 1.9950 (using Fib retracement from 15 Jul peak, 7 Jul low).

28 July 2008

Reported at 1000hrs
GY
It seemed to be well supported at 214, above EMA21/EMA200 at 213/ 212. But it also seemed to be well contained and resisted at 215.

My prediction is that it will moved towards EMA21 for a breather as part of the B-wave retracement before rebouncing off above 215.

Should it go above, give it a go at 216, beofre 217.

GU
The squeeze of 3 EMAs - 200, 100 and 55 showed a good support for GU to sustain. That gives a range from 1.9800 to 1,9870. EMA21 further support the price at 1.990.

Should Gu moved higher, above 2.000, aim the price at 2.0100.

25 Jul 2008

Reported at 0830hrs SGT

GY

It did not managed to sail towards 217, but did a very big retracement - that gives a good buying opportunities.

As predicted, support was first hit at 214, it will gain a further support today at 212.5 (EMA21), then 211.7 (EMA200)

Looking at wave theory, that will be the formation of the B-wave, and should support anchored at EMA200, be prepared next week for a good C-wave up.

Resistance is at 214, then 215.7

GU

Though on its way down, but WMA5 still above EMA21 and EMA200. Give it at 1.9800 a good support (EMA55/EMA100) and should WMA5 cnot fall before EMA100, GU will rebound.

Support is at 1.9700(JUl 7 and Jul8 low).

Resistance is at 1.9965, then 2.0035

24 Jul 2008

Reported at 0700hrs SGT

GJ

Finally, the support has shifted to 214. Using a Fib Retracement from peak of 26 Jun to 16 Jul, you will get a resistance at 217.5. Make a division, (217.5+214)/2 you will get 215.75. And that is around the peak of yesterday or the half way mark to 217.5

GJ may or may not test 217.5 today, but at least it will try to break 217, therefore I will set 216.9 as a mark.

Support is obvious at 214.1 then at 212.5, before going to EMA200 at 211.9

GU

It is consolidating now. Looking at the daily chart and with all the EMAs squeezings, it may not be soon for a breakout.

Support is at 1.990 for break south, going to 1.980, then 1.970.

Resistance is at 2.004, then to 2.01, then 2.016.

23 Jul 2008

Reported at 0700hrs SGT

GJ

It managed to keep within trading range as predicted.

Well supported at 212.8, but keep shy of 214.

CCI looked a bit weak and showed weakness in momentum to punch through 214 again.

Support is at 212(EMA21) then 210.6 (EMA55)

GU

It was strongly moving up and above 2.000. when it fell back to 1.990

GU should be well supported at 1.990 (EMA21) then 1.984(EMA200, EMA100, EMA55).

Potential it may continue its way up to 2.004, then to 2.01

Looking at the hour chart shows the resistance at 1.9980.

22 Jul 2008

Reported at 0900hrs SGT
GJ
Again the strong resistance at 214 and the support at EMA200/ EMA21 at 212, prevented GJ and caused it to trade within the band.

Breaking down into smaller refinement using 1 hour chart, resistance is at 213.8 and support is at 212.5

Should GJ break 214, set 217 will be the next target, while breaking sout gives 210.5

GU
It attempted 2.0000 again and this time price managed a punched through, and that include EMA21 (daily) punching through EMA200. This means a good support at 2.0000 or at least EMA21 at 1.9900.

Resistance is set at 2.0080, then 2.0160, while support is at 1.9850 (EMA200) then 1.9800 (EM100)

21 Jul 2008

Reported at 0830hrs SGT
GJ
It went above EMA200, with WMA strongly above it. As such if EMA200 at 211.8 can continue to support GJ, it will climb further high above 214.

First support at212.4 (peaks) then EMA200 at 211.8
Resistance is 214, before the next level at 217(peak Jan 2008). Give a half way mark and you can use 215.5 or 216.

GU
Consolidate after a run up 2.015.
Support is at 1.990 (EMA21), then 1.9840 (around EMA200)

Resistance is at 2.0040 (Fib retracement), then 2.016

17 Jul 2008

Reported at 1330hrs SGT
GJ
Tested support at 209 (EMA100) and rebound. WMA5 is still above EMA55 and may rebound to EMA21 at 211.

Support is at 209 (EMA100) and at 206.9 (Fib Retracement - Peak 26 Jun, Low 9 May)



GU
EMA21 showed sign of trending up, with it hovering above EMA200 (daily chart).

Resistance is at peak 15 Jul at 2.0150 and support is at 1.9940 (EMA200 1 hour) then 1.9875 (EMA200 daily)

16 July 2008

Reported at 0700hrs SGT

GY

It punched through support for yesterday at 209.9 (EMA55) and went further to 209 (EMA100) before rebounding back to 210.The Yen look strong against the major currencies and the trend down may slow down given yesterday big drop.

Resistance is at 211.2 (EMA21), then 211.6(EMA200). Support is at 209(EMA100), then 207.8(Fib Retracement Peak26 Jun, Low 3 Jun). It may test 209 again, before ranging within 210 and 209.

GU

Fantastic move - within 2 hours climb 140 pips. USD somewhat strengthen during US opening hours (partly due to poor performance from DOW).

Support is at 2.0015 (EMA21 Hour ), then 1.9860 (EMA55 Hour).
A bit difficult to say how high can it go now, but I will give it at 2.0400 (Peak of 14 Mar). But first it must regain yesterday high at 2.0200.

15 Jul 2008

Reported at 0800hrs SGT
GY

CCI looked good for a reversal, but beware of the resistance at 214. GY may continue to mive side, ranging from 210.8 and 211.2

Support is at EMA200 and EMA21, which now has close up with each other (a sign of breakout soon). The next support is at EMA55 at 209.9

GU

It made another attempt at 2.000, CCI show the momentum to do so, provided it don't go into a overbought position soon.

Support at 1.9850 *Hour chart)

14 Jul 2008

Reported at 0730hrs SGT

GY

The squeeze. Looking at the CCI, the downtrend continue showing that any impending breakout north may not be soon. However, as the EMA55 and EMA100 began to narrow towards EMA200, it may bring lead the reverse direction.

Support is at 209.9, which it try to test on Friday, but rebounded. Resistance again is at 212.4

GU

Looking at the daily chart, WMA5 has just penetrated EMA200 and should it maintained above EMA200, it will attempt to reach 2.0000.

Lower support is at 1.9775 and 1.9700

11 July 2008

Reported at 0730hrs SGT
Looking at all the JPY.
USD/JPY, GBP/JPY, EUR/JPY and AUD/JPY

They seemed to have met some form of resistance. Therefore be prepared for a breakout. My suggestion is to watch them all in concurrent and any first sign of breakout in any of the above pair first, follow the rest in the same direction. A breakout is defined as a big fat candle occurance in a period of time, say 1 hour.

For GY, the breakout is at 214 and 209.5 You may want to catch some during the intermediate.

For GU, it may attempt 2.000 again. Support at 1.9650 and resistance at 1.9850

8 Jul 2008

For those who has been following this blog, sorry I have not done so, because lately I am focusing on developing a auto trade system.

Reported at 1000hrs SGT
GY
Again the price was sandwished between EMA200 and EMA21. It attempt to climb high to 212.4, but fall back to 210.8.

These price will form the price for breakout should it happen, if not you can expect another day of side movement.

On the up side resistance is at 214 (peak) and on the down side, support is at 210(EMA55)

1 July 2008

Reported at 0800hrs SGT

GY

The suggestion is a down trend, but EMA200 and EMA21 in combination may cause a rebound. Looking at the daily chart and the WMA5, ithe WMA5 may be resisted by either EMAs.

Support is at 210(Fib Retracement), then 209 (EMA55), while resistance is at 212.5-213 (refer to 1 hour chart.

GU

Look as if it is going down for a consolidation. Support at EMA200 at 1.9847.

Resistance is at 1.9966 (yesterday peak) and 2.0000 (phsychological price).

Looking at the 1 hour chart, ig GU can rebound off EMA100 at 1.9910, it may attempt to reach 2.0000

UJ

This pair seem to be sandwich between EMA100 and EMA200 from the daily chart, 105.4 and 106.6 respectively. The 1 hour chart also show a sandwich between the low of yesterday and EMA200 at 105.2 and 106.7 respectively

27 Jun 2008

Reported at 0930hrs SGT

GY

Stubbornly, the rebound off 214, thus forming a doji, which again fail to show indicative direction for today (esp so its Friday).

Trading will be contain withing 214 and 211.6 (EMA200). This two thus mark the level for any breakout.

The 1 hour chart showed a further squeeze between 212 and 212.8

GU
It did a long shot towards EMA200, and will the momentum continue? Looking at the daily chart, WMA5 has not cross EMA200 and sandwich between EMA200 and EMA100. CCI show a soon to go into a oversold position, meaning a slow down in momentum.

Support is at EMA200 (daily) 1.9840, which is also EMA21 (hour). A rebound off this support will give GU the momentum to try for 2.0000

26 Jun 2008

Reported at 0730hrs SGT

GY

Is it really going to get stuck at 213.3? Or will it be able to break free from 214?

Looking at the daily, EMA21 is closing in, meaning that together with EMA200, it will form a tougher support at 211.6 and 210.8 region. Moreover CCI showed good reversal and provided BB do a breakout.

Will it go up? Compare GY with UY (resisted at 108.5 region). FTSE100 was a whip-saw yesterday and Fed again announced that rates will not be going up amid inflation with crude rebounce back to $137 - a really mix direction.

But if there is going to be a breakout, it will be strong - a big fat candle, only which direction.

24 Jun 2008

Reported at 0730hrs SGT

GY

Stubbornly, GY showed no breakout but held to the support at EMA200.As EMA21 and EMA200 closes in to less than 25 pips, and the BB has been squeezed for the last days.

The hour chart showed a support EMA200, pending which support or breakthrough determines the trend.

Peak 19 Jun at 213.3 offer the first resistance, well EMA21 at 210.3 offer the firs support. The rest of the resistance and support is the same analysis as yesterday.

23 Jun 2008

Reported at 0830hrs SGT

GY

Will there be momentum for GY to go higher than 213.3 or was that a formation of a double top?

Looking at the CCI, the BB looks like a squeeze and the trend look down. Plotting the Fib Retracement from 19 Jun Peak and 3 Jun Low, we can see that the support is at 211 near EMA200 and 209.7 near EMA21.

Of course, if a break out north occur, the resistance will be at 213.3, then 214, before hitting 216.

The hour chart shows support at EMA100 and EMA200, suggesting that should WMA5 does not punch clear these lines, going up is also possible.

19 Jun 2008

Reported at 1200hrs SGT
GY
It seemed that WMA5 has failed to punch through EMA200. GY may just consolidate around the region 210.2 (last support line) and 211.4 (EMA200)

Prepare then for a breakout either up or down. If breakout up, resistance will be at paek of 16/17 Jun 211.8 then 214(peak 14 Feb).

If down, 209.4 (peak 30 May) then EMA100/55 (207.2)

18 Jun 2008

Reported at 1100hrs SGT
GY
WMA5 attempt to punch through EMA200, but failed.

Looking at the daily chart for the last 6 months, even though WMA5 cleared EMA200, the price will meet resistance at 214.

The price now is around 211 and the first resistance is EMA200 at 211.5

CCI looks down and the momentum down will start if CCI punch through the center BB line.

Suport is at 210.7 (peak 9 Jun), then209.4 (peak 30 May)

17 June 2008

Reported at 0900hrs SGT
GY
Take a look at the daily chart. If you draw a Fib Retracement line from 30 May Peak and 3 Jun Low, you can see that yesterday peak tested the Fib Retracement line at ~211.8 after the price pass EMA200 at 211.4.

WMA5 however is still below EMA200. It can means a rebound but the CCI look strong for a continue push up.

In the event of WMA5 clearing pass EMA200, GY can reach as high as 218, but in terms of stages, first it must close above 211.8, then 215 (half way mark). These set the resistance for GY.

Of course, after a test at EMA200, the attempt may fail and a rebound could occur. If that is so, GY will consolidate at EMA200 (211.4), then, 210.7 (the price before breakout), then, 209.4 (peak of 30 May).

13 Jun 2008

Reported at 0630hrs SGT

GY

Look like GY is losing stream for any upward movement. Both the softening of the WMA5 gradient and the CCI show a potential downward trend.

Even if there is a shot up, GY will face resistance at EMA200 at 211.3. It need to clear 212 before any significant breakout north.

How low can then GY go? You can draw a fib retracement from 9 Jun peak to 9 May low. But as now taking an extimate from the EMAs, we have 207.6 (EMA21) and 206 (EMA100/EMA55)

12 Jun 2008

Reported at 0730 SGT

GY

As predicted yesterday, GY has problem breaking out of 210.7

Looking at the daily chart, a double top was formed. CCI showed no strength in up trend and EMA200 offered a strong resistance at 211.4

The 1 hour chart show a momentum down and support is at EMA100 (209) and EMA200( 208.2)

A likely scenario is that GY will attempt to test EMA200 (211), but fall back to support at 210. Another possible is GY will began descend, forming part of the B-wave, before going up to break EMA200 at 211

11 Jun 2008

Reported at 0800hrs SGT

GY

GY consolidated as predicted. Looking at the doji formed, buyers are pushing the price back above 209. Both WMA5 and EMA21 look good for a momentum for GY to head towards EMA200 at 211.3.However, CCI look a bit slow down. Therefore, the breakout towards EMA200 must overcome the resistance at 210.7 (yesterday peak). The hour chart confirm the suggestion.

Support is at 209 (Fib Retracement). 208 (peak of 6 Jun) then 207 (EMA21)

10 Jun 2008

Reported at 1400hrs SGT

GY

It has been good yesterday, with GY shooting up as predicted to gain towards price at 210.7.

GY may consolidate a little (normally after a super run), but may continue to head towards EMA200 at 211.4.

A likely scenario is that it consolidate towards support at 209.4, before a rebound towards 210.7, therefore testing the peak. Should it break it, hitting EMA200 is possible. The other support is at 208.5 (EMA55 1 Hour chart)

9 Jun 2008

Reported at 1130hrs SGT
GY
Looking at the daily chart, WMA5 has rebounded off EMA100 and is well supported there. Looking at the last candle on 8 Jun, buyers are coming in resulting in a tail that leaves the price above 207.

CCI look flat, suggesting that the uptrend may not prominent. The market may consolidate for a breakout.

If WMA5 continue in upward trend, I will place the resistance at 208, then 209, then EMA200 (211).

On the reverse, support is found at EMA100 at 206.2, then EMA55 at 205.5

6 Jun 2008

Reported at 1000hrs SGT
GY
Looking at the daily chart. WMA5 has rebound off EMA100/ EMA21. Price is now at 208 and given the morning momentum, and the big price shot up yesterday, the trend will continue but will meet resistance at 209 (peak).

Should GY break this price level, it will head towards EMA200 at 211.5. But since 211.5 is too big for a single day movement, it should stop half way at 210.4

The other possibility is a formation of a doji. A rebound off 209 with price range in between 209 and 207. Looking at the hour chart, first support at EMA21 (207), then EMA200 (206.6)

5 Jun 2008

Reported at 0830hrs SGT
GY
Indeed GY was supported at EMA55 (daily chart) at 205 and the low it went was 204.5.

From the daily chart, looking at the WMA5, it has near EMA21 and even if it is to punch through it will meet EMA55. Therefore GY will continue to be supported at 205 (EMA55) and 204.4 (Fib Retracement).

Looking at the CCI, confirm the weakening down trend.

However, should WMA5 break EMA55, GY will break out south and head towards 203.3 and 202 and that will be a very big candle. GU and EU has been going down because of Obama and GY may absord some such sentiments.

Of course, WMA5 may too rebound off EMA21. In such a case, it will be able hit price at 208, half way mark before 209 (Fib retracement)

4 June 2008

Reported at 0830hrs SGT
GY
A doji was formed.

CCI still show down trend, ut with signs of reversal.

WMA5 still hang above EMA100, while price now is 206.1

A good possibility is for price to gain support at 205.5 (Fib retracement) and 205 at EMA55, before a rebound or a breakout south.

Should a rebound took place, price will be again resisted at 207 (peak), then 209 (peak). But should a breakout occur, prepare to see GY supported at 203.3, then 202 (Fib retracement).

3 Jun 2008

Reported on 0830hrs SGT
GY
Looking at the daily chart.
First WMA5 sandwich between EMA200 and EMA100. It rebouded off 209.4 and headed towards EMA100 for a conolidation.

Price now well supported at EMA21/EMA55 at 205. A more support is that yesterday low tested the Fib retracement line at 204.4 and rebound.

CCI pointed down.

What is the trend? Yesterday was a big drop, though the price was supported well, the WMA5 has still room to move down towards EMA100. As such, GY may continue to hit low at 204.4 and 203.3. A likelihood a formation of a doji, before a sure rebound up.

The 1 hour chart gives a signal of where the resistance is - EMA200 at 207, before 209 (Fib retracement)

2 Jun 2008

Reported at 1200hrs SGT
GY
It hit the resistance at 209 / 209.4 on Friday and look as if a reversal will take place. CCI confirmed the direction.

Looking at the 1 hour chart, in the morning GY went towards EMA200 at 207 and rebound and hit the resistance at EMA100 at 208.3.

A breakout is possible in such a case.
A break north at 208.7 (EMA55 1 hour chart) will made GY in another attempt to beat 209.0.
A break south at 207 will continue the downward trend to support at 206.1 (EMA100 1 day chart).

28 May 2008

Reported at 0900hrs SGT
GY
Looking at the WMA5 and the price from the daily chart. WMA5 is between EMA21 and EMA100, but price is saturated at EMA100 at 206.2.

How will the movement be?

A possible case is that WMA5 will hit EMA100 and that brings the price up to 206.4- 206.8 (based on peak on 22 May and 7 May) before making a reverse. Else it will be a shoot towards EMA200 at 208 (half way point)

Support is at 205.5 (Fib Retracement) and 204.4 (EMA21)

26 May 2008

Reported at 0800hrs
GY
Looking at the daily chart, WMA5 again failed to punch through EMA100 and now hangs in between EMA100 and EMA21/EMA55.

Naturally EMA100 at 205.8 gives the resistance line while both EMA21 and EMA55 hold the support at 204.1

The question is that which direction will it go? GY may take a dip towards EMA21/55 (may hit 203.3 - Fib retracement) before bounce off towards EMA100.

24 May 2008

I was busy lately.
I will too be away for a week, 24-31 May to Yunnan.

I was told that blog may be block in China and as such I will not be able to update.

I brought my computer with me, but the main purpose of this trip is more God related. Pray along with me for a safe trip as well as that God will show me more about Him and what He has intended for me.

19 May 2008

Reported at 1000hrs SGT

GY
Looking at the daily chart.
WMA5 attempt to clear EMA100 again. It was supported at 203.3 (Fib retracement line). Will it be able to punch through?

If it can, it will reach EMA100 at 206.0. But before the Fib Line at 204.4, which is also after EMA21 and EMA55.

On the other, failing the support at 203.3, will bring GY to 202.0 (Fib Line)

17 May 2008

How I do daily market assessment?

I was very busy recently and as a result I was not writing and updating. I will be blogging the recent happening in www.phfamily.blogspot.com. Pray along with me.

1) What is the general trend?
Fundamental
The need for this answer will help you decide whether it is good to play long or short.
The answer can be found in reading news from www.forexfactory.com and http://finance.yahoo.com/

forexfactory shows you the results of the news as well as what are the news that are coming up.
yahoo shows you how the equity market, commodity market, the general news that make headline.

It will take you sometime to find co-relationship between the news and the trend. Give it a try and journal down each day on your prediction and write down why do you predict that direction. Over time, as you go through your journal, you may observe those prediction that was made correctly and what are the news and results that made you say so. Soon, I will say that by experience, you will attain what I called 'trader instinct'.

Technical
The general trend can also be predicted based on technical charts.

I used both the daily chart and the 1-hour chart, coupled with WMA5, EMA21, EMA55, EMA100, EMA200, CCI.

CCI show you the continuous trend and it is for you to predict whether the trend will continue and be reverse. This prediction combines with the gradient of the CCI, the pass and current level of the CCI.

WMA5 and the EMAs from daily chart gives support and resistance level. Somtimes Fibonacci retracement is very useful.
For example, WMA5 has been going up for the last few days and is nearing EMA200. My prediction is that there will be a resistance at EMA200 and therefore the trend of going up may be halt and potentially a reversal

2. Where to enter trade?
After your expectation of the trend, there are four possible outcome:
Long breakout
Long reversal
Short breakout
Short reversal

Breakout means that after that support or resistance level, the price will strongly continue to go in that direction.

Reversal means that after hitting the support or resistance level, the price will rebound and reverse in direction.

I use the EMAs and Fibonacci retracment (somtimes with some Eillot Wave theory) to help me decide where can I enter my trade. You will need to understand some Psychology of Trade to observe how the WMA5 behave with the EMAs.

Again journal your decisions - why you enter the trade at that level..

I use both daily chart, but mainly the 1-hour chart to help me place my trade.

3. Where to exit trade?
Again the understanding in Psychology of Trade and your prediction in (1) and (2) will allow you to place your Take Profit (or exiting the trade).

But BUT BUT the method I play does not put Stop Loss. I use a very strict Money Management.

For the moment, place only long trade with no stop loss AND the total margin committed in all your combine open transactions be less than 20% of your trading capital.

4. Journal
Journal your trade - why you enter the trade with the above three reasons.

Happy trading - it should not take you more than half an hour a day.

15 May 2008

Reported at 0800hr
GJ
WMA5 headed towards EMA21 and EMA55. This pose a strong resistance and may trigger a rebounce of WMA5. A good support is found in 203.5 (EMA200 1 hour chart). Then 202.2 (Fib retracement).

Should WMA5 punch through EMA21 and EMA55, it will meet resistance at EMA100 (daily chart) at 206.2.

12 May 2008

Reported at 1100hrs SGT
GJ
Looking at the daily chart, CCI though did not go into a oversold, but clearly there was a sign od reversal. Gradient of the CCI has weakened, therefore showing signs of a reversal.

Support is at 200.0, looking at how on last Friday and this morning the low were.

Resistance is at 202 (Fib retracement 9 May low and 2 May high), then 203.3 (Fib retracement) then 204.4 (EMA21, EMA55)

9 May 2008

Reported at 0730hrs SGT
GJ
After a day of drop, which pushed WMA5 way below EMA21, EMA55, GJ was supported at 203.0 and 202.6. The struggle was evident in the 1 hour chart with 202.6 tested 3 times yesterday.

Will the down trend continue?

Looking at the daily chart, CCI has yet to go into oversold and the downtrend may continue. In such a case, support is at 200.8 using Fib retracement from 2 May peak and 16 Mar low.

On the other end, resistance is at 204.5 (EMA55), 205.2 (EMA21 and Fib Retracement line), then 206.7 (EMA100).

GU
GU went into an oversold position and showed signs of reversal).

At the 1 hour chart, a double bottom was form and price has been climbing.

Resistance is at 1.9580 (EMA55 1 hour chart) and 1.9620 (EMA100, 1 hour chart).

Support is at 1.9500 (low 7 May), then 1.9400 (low 20 Feb)

7 May 2008

Reported at 0730hrs SGT
GJ
Buyers seems to be back, thus supporting the WMA5 from falling below EMA100 (daily chart). Looking at the CCI, the down trend looks is weaken and may gear for another round of up.

A good breakup north is above 207.2, while a break south is at 205.4.

Support at 206.0 (EMA21) and 204.8 (EMA55)

Resistance is at 209.0 (peak), 213.9 (EMA200).

GU
Downtrend may continue to bring GU to an oversold position.
Support at 1.9635 (fib retracement) and 1.9500 (low).

Resistance at 1.9800 (EMA21) and 1.9850 (EMA100)

Reported at 1130hrs SGT

GJ
From the daily chart, WMA5 managed to go above EMA100. Will it maintain the momentum to hit EMA200?

The amrket may consolidate to swing the price down and therefore keep WMA5 below EMA100. If that is so, you will see support at 205.8 (EMA21) and 204.7 (EMA55).

On the other hand, if WMA5 managed to hang on to above EMA100 (207.0), it will have momentum to run towards 211, then 214.

Overall CCI, look down.

GU
CCI look down, but sign of doji appeared.

Support is at 1.9600 (Fib retracement, low level)

Resistance is at 1.9830 (EMA55), then 1.9920 (EMA200)

2 May 2008

Reported at 1000hrs SGT
GJ
WMA5 was constrained within EMA100 and EMA55 from the daily chart. It will be expected to have more ding-dong around this region before a breakout. The constrain gives a price region of around 207 and 204.5

Should a breakout up happen, it must break past the price of 208 for the WMA5 to clear EMA100, then reach the resistance at EMA200 at 213.8 or first half way mark at around 211.

Should the price break pass EMA55, it will gain support at 202, then 200.

Overall CCI indicate a sluggish up trend, showing sign of a rebound off EMA100.

GU
Looking at the daily chart, for the past days, EMA200 post a big resistance at 1.9930.

CCI showed up trend and therefore potential that will move the price towards EMA200. A breakout is possible will bring GU to 2.0000, then 2.1000. But looking at how the EU perform, the USD look to have more strength.

On the support, 1.9680 (Fib retracement) then 1.9600.

29 Apr 2008

Reported at 1000hrs

GJ

Looking at the Daily chart

WMA5 is above EMA100. Will it be supported there?

CCI is tapering side way. So will there be a trend in any direction?

The signs above look like there will be a weakening of upward trend. WMA5 though it zoom above EMA100 yesterday, but it has failed to sail pass it with any energy, looking at the doji the chart formed - indicating that sellers are coming in. There is also a lot of up movement recently and some form of consolidation is needed.

Support is at EMA100 (daily chart) at 206.9, then at EMA55 at 204.2

Resistance is at EMA200 (daily chart) at 214, provided it sail pass 209 (peak of 18 Apr), then 211 (half way mark), which offered alternate resistance.

Looking at the 1 hour chart:

It show a support first at EMA100 (1 hour chart) at 207.1 and at EMA200 (1 hour chart) at 206.4

Failing these support would means a downward movement to 204.2.

On the other side, should price break above 208.8 (peak for yesterday), there are chances for movement towards 211.0, then to 214.0

GU

Looking at the daily chart, it will probably another day od side movement.

Resistance is at EMA200 (daily chart) at 1.9950, then at 2.000.

Support is at 1.9780, then at 1.9600

28 Apr 2008

Reported at 0730hrs

GJ
Price of GJ has climbed, but WMA5 stop short at EMA100 (daily chart).

Should WMA5 punch through EMA100, GJ can reach 214 at EMA200. But from now at price 207 to 214 is too big a climb for GJ in 1 day. Give a half way make at 210 or 211, should set the resistance.

On the other side, WMA5 can rebound EMA100 and head back to EMA55. That bring the support at 204.

CCI shows a side movement.

GU
CCI showed a down trend.

Resistance is at EMA100 (daily chart) 1.9880 and EMA200 (daily chart) at 1.9940.

Moving down, support is at 1.9670 and 1.9600, (Fib retracement).

18 Apr 2008

It has been sometime that I have reported. Busy with an engineering project.

Reported at 0800hrs SGT
GJ
It made a big move yesterday. But looking at the daily chart, the price shot passed EMA55 heading towards EMA100, but the WMA5 has just crossed EMA21! It may not cross EMA55 today. What this means is that the price does not have the potential to hit EMA100 before a rebound occur.

Resistance is at EMA100 (daily chart) at 206.8. Support at 202.2 near EMA55.

GU
This pair made big moved up.
Daily chart CCI showed movement up before getting into an overbought position.

Clearly at the daily chart, EMA200 will post as a resistance at 1.9950, than 2.0000
Support at 1.9760, 1 hour chart EMA200.

9 Apr 2008

Reported at 1200hrs SGT
GJ
Looking at the daily chart, CCI showed a down trend. It would continue to go down, gaining support at 200.3 (Fib retracement from 4 Apr peak to 16 Mar low), then 198.8, then 197.3.

Can it go that low today? Well for this pair a movement by 300 pips is nothing!

Of course, it can rebound off EMA21 (dailychart) at 201.4 and head back to EMA55 (dailychart) at 203.8.

The hour chart showed resistance at 202 (EMA200), then 202.55 (EMA100)

GU
Looking at the daily chart, CCI is on the down trend, but momentum is slowing as GU may soon hit a oversold position and rebound.

How low can it still go? After last night low at 1.9670, price has been hovering there. Support is at 1.9600, then 1.9450, based on Fib retracement peak 27 Mar and low 20 Mar.

Looking at the 1 hour chart, we see resistance at EMA21 (1.9700), EMA55 (1.9780), EMA100 (1.9825) and EMA200 (1.9860).

8 Apr 2008

Reported 0730hrs SGT

GJ
Looking at the daily chart, it is like a tug of war. It is undecided to clear the EMA55 (dailychart) and looked as if WMA5 would rebound and hit EMA21 (dailychart)

Support is at 201.7, while resistance (should WMA5 break EMA55) goes to 206.6 then 208.5

7 Apr 2008

Reported at 1030hrs SGT
GJ
A consolidation was made with a down candle on Friday. This could be a part of the B-wave, before a big C-wave up and provided GJ clear EMA55 at 204.0 (daily chart). It could reach EMA100 (daily chart) at 208.5.

It may take a few days for consolidation, putting GJ in between the price range 204 and 201.5, EMA55 and EMA21 (daily chart). There is of course possibility of GJ breaking EMA21, thus bring the price to 197.1

For today, resistance is at 206.6 (resistance during 02-10 Mar), then 208.5 (EMA100 daily chart)
Support is at 202.4 (WMA100 1 hour chart), then 201.7 (EMA200 1 hour chart)

GU
GU is moving down as seen from CCI.

Looking now at the 1 hour chart, WMA5 has break EMA200.
Support is at 1.9870 and 1.9840.

This ring the resistance at 1.9920 (EMA 100/ EMA200)

4 Apr 2008

Report at 1000hrs SGT

GJ
Big move up, clear EMA21 (daily chart). It is now testing EMA55 (daily chart) at 204.1.
Looking at the WMA5, it is still below EMA55 and should it clear EMA55, price could reach resistance at EMA100 at 208.8.

To 208.8 is a big move, but GJ is capable of doing so. It may however, halt half way at 206.2 or 206.4.

On the reverse side, GJ may failed to punch through EMA55. If it is so, the price may fall back to support at EMA21 at 200.7.

The price now is around 204.1 to 204.4 region, which is the support before GJ did a dive to 200, then to 195. As such, there is a likelihood that GJ may take a breather. CCI showed tapering off, coming to a overbought position. If so, reversal would take place.

GU
GU did a good up yesterday, the price stop at 1.9980.

Support is at EMA200 (1 hour chart) at 1.9900 and EMA100 (1 hour chart) at 1.9880.

CCI showed momentum to go up. If so, it can easily break 2.0000 and hit to 2.0040 (Fib retracement)

31 Mar 2008

Report at 1000hrs
GJ
It still continue to hover in the trading range of 200.5 and 196.4

Today morning, looking at the 1 hour chart, GJ was trading below EMA200, but within an hour, it sailed above EMA200. This give a good for GJ to hold above 198.7.

Looking at the daily chart, resistance is still at 200.5 EMA21.
Support is at 196.4.

GU
Resistance look strong at EMA200 (1 hour chart) at 1.9965, but should GU go up pass this resistance, it can expect EMA200 (daily chart) at 1.9988, then above 2.0000 to 2.0070

Support is at EMA55 (daily chart)at 1.9895

28 Mar 2008

Report at 0900hrs
GJ
It failed to punch through EMA21 (daily chart). The price test the EMA21 and retrace back to the 200.5 resistance level.

It has been a number of days where GJ hovers around 200.5 and 196.4

Beware of a big breakout and it can be in either direction.

Resistance is at EMA55 (daily chart) at 205.2.
Support at 192.5 or even 190.0

GU
There is still uptrench stream, given the strong support at EMA200, EMA100 (all daily chart) at 1.993 and 1.998 zone.

Should it go up, it should close high above 2.0145 and should it break 1.9930, support is at 1.9730

27 Mar 2008

Report at 0830hrs SGT
GJ
Nearing EMA21 on the daily chart.
It could be another day for the price to hover between 200.5 and 194.5

But a breakout is imminent. Should it break up and above 200.5, it can reach 203 than 205.5.
Of course, on the reverse, support is at 194 and 195.

GU
CCI on a daily chart show up trend, but soon it will go into overbought and reverse.
From the daily chart, resistance is at 2.0143 and 2.0270.

A good support is form at EMA200 and EMA100 in the range 1.998 and 1.992, which explain the rebound yesterday

26 Mar 2008

Report at 0730hrs SGT
GJ
GJ hit EMA21 at 200.9, from the daily chart.

It may ir may not have the momentum to punch through - looking at the small candle formation and the tapering of CCI from the daily chart.

Should it go up, it can sustain the movement to EMA55 (daily chart) at 205.45, shich is also a good Fib retracement level.

However, a retracement down is also possible, bring the support at 195.7 (half way mark before low)

GU
The uptrend continue and it manage to clear through EMA200 (daily chart) at 1.997 and the 2.000 mark.

A short retracement to EMA21 (1 Hour chart) at 1.9978, before and should any momentum, to continue hitting the price of 2.0145 (a Fib retracement line taking from 20 mar low to 14 mar high)

Another support is at 1.992 EMA200 (1 hour chart)
Support

25 Mar 2008

Report at 1045hrs SGT

GJ
GJ touch 200 yesterday, but whether it can continue the up trend lies on whether it can beat EMA21 (daily chart) at 200.9. CCI continue to show up trend but may end when in overbought position.

Resistance is at 200.9 (EMA21 daily chart) and at EMA55 (daily chart) at 205.8

Of course, a fall back to support at 195 is a possibility, before hitting low at 192.6

GU
On the daily chart, CCI show up trend.
1.997 (EMA200 daily chart) pose as a resistance for any up movement.

On the support, 1.983 (EMA55 1 hour chart) before 1.973

24 Mar 2008

Report 0800hrs SGT

GJ
Today may be another low volatile day for GJ - Easter Monday Holiday.
Lokoking at the daily chart, a breakout could happen at either 198.3 and 195.0

Should GJ break up, resistance will be at 200.9 (EMA21 daily chart) and should GJ break south, the support will be at 192.5

Should GJ break 192.5, it may make a new low towards 185.0

GU
Looking at the daily chart and making a Fib retracement from 14 Mar High and 20 Feb Low, the first retracemene level is at 1.976, before 1.936

Again looking the daily chart, CCI indicate a uptrend. This means that a possible rebound off 1.976 level and head towards resistance at 1.998 (EMA200 daily chart).

But if rebound failed, CCI will go into oversold position and GU will break 1.976 level and head towards low at 1.936.

20 Mar 2008

Report at 1030hrs SGT
GJ
Yesterday dip after bouncing off the 201 mark, showed that the dive is still strong.
Looking at the daily chart, it could mark a formation of a B-wave and awaiting for a big C-wave down.

Taking a Fibonacci retracement from high of 18 Mar and low of 16 Mar, the support retracement is at 186.6, then 177.4

Today support is at 192.5, a failure in this line will be a confirmation of the C-wave down.

On the reverse, resistance is at 199.6, EMA200 (1 hour chart). 200 is a strong line to break and that will bring hope for a strong upward movement.

GU
GU will continue to move down, gaining support at 1.970, before going to 1.930. Fibonacci retracement from daily chart (High of 14 Mar and low of 5 Mar)

Resistance will be at 1.989 (EMA55 daily chart) and 1.997 (EMA200 daily chart)

19 Mar 2008

Report at 0800hrs SGT
GJ
A big reversal and shot pass the resistance of 200.0. The price now is 201.2 and looking at the 1 hour chart, it is above EMA200.

Should GJ can maintain above this EMA200, which will become the support, GJ can reach 203.

GU
Fed interest rate cut brought down the GU, swinging it below EMA200 at 2.0140 (1 hour chart).

Support is at 2.0003, EMA200 (daily chart), while resistance is at 2.0140 and 2.0280

18 Mar 2008

Report at 12oohrs SGT

GJ
The price is supported currently at around 192. But potentially, GJ may break towards 190.0, then towards 186.0

Looking at the daily chart, CCI is on the up trend.
And looking at the 1 hour chart, resistance is at EMA21 at 195.3, EMA55 at 196.5.

GU
GU rebound off 2.0000. Looking at the daily chart, it tested the EMA200.

Support is at 1.994.

Resistance is at 2.0137 EMA200 using 1 hour chart

17 Mar 2008

Reported at 0800 SGT

GJ
It fell off the cliff at 200!
The next support is at 196 and of course 200 became the resistance. It may be sometime for UK to recover and it look as if the UK economy breakdown first as compare to the Japanese.

GU
Likewise, on Friday, it failed to hit higher than 2.04. Price fell back to 2.02.

Looking at the 1 hour chart, support is at EMA200 at 2.0172. Further support is at EMA200 from the daily at 1.999.

Resistance is at 2.04.

Should GU managed to rebound off either EMA200, it could break high at 2.04.

14 Mar 2008

Report at 1100hrs SGT

GJ
It still continue to hovers around 204 and 203.

Using 1 hour chart, a breakout out of 202.9 or 206.0 will then determine the direction of this pair.

GU
Up trend has soften.

Looking at the 1 hour chart, GU could move down further to EMA55 at 2.026, thento EMA100 at 2.021.

Should a break out above 2.040, potential it will move to 2.0475 (Fib retracement from daily chart).

13 Mar 2008

Report at 0730hrs SGT

GJ
The price refuse another breakout north. The price has been hovering between 208 and 203.5.

From daily chart,
Support is at year low ~203.5 and 203 region.
Resistance at 208.0 then 210.2

From 1 hour chat,
EMA21 to EMA200 offer resistance at 206.5

GU
It shot up another high, after clearing 2.0220 resistance.

Take a Fib retracement (from 20 Feb low to 9 Nov high).
Yesterday it tested the retracement level at 2.0261, the next level is at 2.0473, which will be the resistance for the day.

Looking at the 1 hour chart, support is at EMA21 (2.0200), EMA55 (2.0155) and EMA200 (2.0755).

CCI indicator point to another up trend today.

12 Mar 2008

Report at 0830hrs

GJ
GJ tested its low again at 203, which proved to be a strong support. The price rebound and potentially attempt EMA55 (daily chart) at 210.27

GU
Looking at the 1 hour chart, WMA5 now sandwich between EMA100 and EMA200 at 2.0096 and 2.0046.

Just below the EMA200 (1 hour chart) is the support at 2.0000, which GU tested it but failed to clear it and rebound.

Looking at the daily chart, should GU clear the price at 1.995 below the EMA200 and the 2.0000 support price, it will also face EMA100, around the price range of 1.990.

Should GU break north, it has to clear 2.011 and also the high at 2.0220, before potential going higher towards 2.030

11 Mar 2008

Report at 0800hrs SGT

GJ
It did a big dive down yesterday.
From the daily chart, GJ has the momentum to contiune its downward climb should be break year low at 203.5 or around 203. Support at 200.0

Resistance at EMA21 (1 hour chart) at 205.2 and EMA200(1 hour chart) at 206.5 should GJ reverse today and bound off year low support.

GU
It did a consolidation yesterday. The trend may contine and take support at EMA200 (daily chart) at 1.998, thus should it rebound from here, this will form the B-wave.

Looking at the 1 hour chart, WMA5 hovers between EMA100 and EMA200, 2.011 and 2.0036.
Should the price break at 2.014, resistance will be at 2.022.
Should the price break 2.0030, support will be at 1.998

10 Mar 2008

Reported at SGT 1200hrs

GJ
It has been consolidating for the last days, after bouncing off the year low support at 204/204.

A good breakout north will give GJ a hit towards EMA55 (daily chart) at 210.5.
On the other hand, shoulg GJ break the support at 203, iGJ will make new low at 200.

Looking at the 1 hour chart, it confrim the consolidation, with all the EMAs close to each other. A good price for break out is above EMA200 at 206.86 and at 206.1 (below EMA21)

GU
Looking at the daily chart, CCI indicate a reversal down.
After the recent days of climb, GU may take a breather.

Loking at the 1 hour chart, EMA21 offers the first support at 2.0165 and EMA55 offers support at 2.0137.

Of course on the upper side, GU has the potential to reach 2.0300

7 Mar 2008

Report at 0700 SGT

GJ
Looking at the daily chart, GJ is now making a B-wave down, before the next C-wave.

Support is attained at ~205 (Fib Retracement) and should the C-wave form, the price should head toward EMA21 (daily) at 208.4 then EMA55(daily) at 2011.5.

The 1 hour chart confirmed the consoldiation - WMA5 sandwiched by EMA200 at 207.0 and EMA100 at 206.0. Should the price breakout, it will gain monemtum towards the support and resistance mentioned in the above paragraph.

GU
Finally, a break from 2.0000!

But looking at the daily chart, WMA5 has not cross EMA200, which means today the price will consolidate. There may be some retracement after yesterday long candle.

It should find some support at 2.0005 and 1.9996 range (EMA200 and physchological 2.0000)

The price has the momentum to continue up, just by comparing the strength of EUR/USD reaching new high! GU has the potential to climb to 2.0325 (Fib Retracement)

Looking at the 1 hour chart, it seems that the bull is still raging up! The 1 hour chart shows and confirm the support at 2.0032 (EMA21) and 1.9955 (EMA55)

6 Mar 2008

Time SGT 0945hrs (computer very slow, so no pics)
GJ
Looking at the daily chart, CCI is still gaining strength. But of course, the price tested EMA21 (daily chart) with a day high of 207.77 and now fall back to 206.55.

I am expecting some form of slow down today, or even a down candle, but in general, GJ will attempt to at least sail towards EMA55 (daily chart) at 211.3

The hour chart support the above claim. WMA5 (1 hour chart) now lies between EMA200 and EMA100 (1 hour chart). Should the price break above 207.77, it will continue towards 211.3. But should today, the price break 205.5, clearing EMA55 and EMA21 (1 hour chart) at the same time (which can be difficult), it will find support at 204.3 (year low).

GU
A big dogi formation looking at the daily chart, which means buyer and seller on par. Buyer trying to break the EMA200 (daily chart) at 1.997 and seller trying to break the EMA100, EMA55, EMA21 (daily chart) at 1.972. It ended with the WMA5 still in between EMA100 and EMA200 (daily chart).

Looking at the 1 hour chart, WMA5 is now above all the EMAs. This means that potentially the price may hovers around EMA200 (daily chart) at 1.997 and EMA200 (1 hour chart) at 1.982.

Should price sail pass 1.997, it will find resistance at a good 2.03, a big fibonacci retracement! Take a half way mark for profit.

Should the price break below EMA21 (daily chart) at 1.972, it will find support at first 1.9667, then 1.9600

5 Mar 2008

Singapore Time 0700hrs
GJ

Take a look at the daily chart

Price now is ~205.4

Year low happens to be around 203/204 and that provided a good support. In addition, the CCI indicator showed a turn around.

The next resistance is at EMA21 (daily chart, above) at 208.6

Of course, in the down side, GJ may attempt to slide below 203 and made a move towards 200, but look unlikely today. Again, 203 proved to give the support. Take a look at the 1 hour chart.
From the 1 hour chart, WMA5 has cleared EMA55 (1 hour chart) and look likely to attempt EMA100 and EMA200 (1hour chart). In addition, EMA21 is also attempting to clear EMA55. GJ therefore look more to move up than down today (technical speaking).

GU
Take a look at the 1 hour chart.



WMA5 is sandwiched between EMA200 and EMA100/EMA55/EMA21.

Yesterday is another attempt by GU to breakout north, but failed.


Resistance is set at 1.990 but will face another tasked of breaking the daily EMA200 at 1.996. See chart below.



On the other side, should the price break EMA200 (1 hour chart ) at 1.981, it will gain support at EMA55 (daily chart) at 1.975

4 Mar 2008

GJ
GJ make a new year low yesterday, hitting 203.48. It rebounce off this support and head straight towards EMA21 (1 hour chart).

Of course, it is always two things would happen - up or down. The price now hovers between EMA21 and EMA55 (1 hour chart).

Should the price turn down and sail towards 203.0, it will gain momentum to hit towards 200

Resistacne line is at EMA100 (1 hour chart) at 206.3

GU
GU price nows hovers between EMA100 and EMA200 ( 1hour chart). The channel has been closing and a breakout would happen.

Should the price clear 1.980, it will it supported at 1.975 (EMA55 daiy chart) before deciding to rebound up or continue its road south.

Should the price break 1.987, it will gain momentum to hit 1.996 (EMA200 daily chart) and potential clear 2.000

3 Mar 2008

GJ
It did a dive all the all to its year low at 204.6. The price this morning hit 204.4.

Support will lies at 204.4 and should GU break this price, a record low will be set at 200!
Of course, a likely reversal towards EMA21 (dailychart) at 209.3. Wait for CCI to reverese before placing long position.

GU
From the daily chart WMA5 nows sandwich between EMA100 and EMA200. A likely consolidation before a breakout would occur.

Resistance is at EMA200 (daily chart) at 1.997 and support is at EMA55 and EMA21 (daily chart) at 1.974

Wait for breakout for a clear GU direction.