EUR/JPY Technical Analysis comments :
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Sentiment :  110  109  |
The pair EUR/JPY has validated yesterday a return below 110 and also the breakout of its medium term bullish slant (purple line).
The pair just found support on 109 and is trying to rebound.
Indicators are mitigated.
We stay neutral on the pair between 109 and 110.
We advise to wait an exit of this range to take position:
- Long above 110. The breakout of 110.50 and 111 will both give a new buy signal
- Short below 109. The breakout of 108.50 and 108 will both give a new sell signal.
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Commentary of the EUR/JPY pair :
The pair EUR/JPY has validated last friday a return above 110, comforting our bullish feeling and is currently testing the resistance at 111.
The pair is still moving above its medium term bullish slant (purple line).
All indicators are now bullish.
We continue to advise long positions as far as 109.50 is support.
The breakout of 111 and 112 will both give a new buy signal.
In case of return below 109.50, we will wait the breakout of 109 to advise short positions.
Article by Karl Dittmann.
100% Free Interesting Trading Strategy ( source: available for free on the web )
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AUD/JPY - AUD/USD - USD/JPY
CHF/JPY - CHF/USD - USD/JPY
EUR/JPY - EUR/AUD - AUD/JPY
EUR/USD - EUR/AUD - AUD/USD
GBP/JPY - GBP/USD - USD/JPY
EUR/CAD - EUR/USD - USD/CAD
EUR/CHF - EUR/GBP - GBP/CHF
EUR/CHF - EUR/USD - USD/CHF
NZD/JPY - NZD/USD - USD/JPY
EUR/JPY - EUR/GBP - GBP/JPY
EUR/USD - EUR/GBP - GBP/USD
EUR/JPY - EUR/USD - USD/JPY
GBP/CHF - GBP/USD - USD/CHF
GBP/JPY - GBP/CHF - CHF/JPY
GBP/JPY - GBP/CHF - CHF/JPY
For example:
1. You buy 1 lot GBP/JPY
2. You buy 1 lot GBP/CHF
3. You also have to buy 0.8 lots of CHF/JPY in order to stabilize the accounts
I hope that you benefit from all these. Take your time to study and practice the method on a demo account... A week or so is definitely not enough to get a good feel of the system, so be patient and enjoy it..
100% Free Interesting Trading Strategy ( source: available for free on the web )
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This is a trading method which has been around for some time now. Many people have reported good success rate with it. In this method, we are going to trade 3 pair at the same time, the 3 pairs together form what we call a 'Currency Ring'. The main property of a Currency Ring is that, altogether, they share the same number of currencies. The most popular rings are as follows:
AUD/JPY - AUD/USD - USD/JPY
CHF/JPY - CHF/USD - USD/JPY
EUR/JPY - EUR/AUD - AUD/JPY
EUR/USD - EUR/AUD - AUD/USD
GBP/JPY - GBP/USD - USD/JPY
EUR/CAD - EUR/USD - USD/CAD
EUR/CHF - EUR/GBP - GBP/CHF
EUR/CHF - EUR/USD - USD/CHF
NZD/JPY - NZD/USD - USD/JPY
EUR/JPY - EUR/GBP - GBP/JPY
EUR/USD - EUR/GBP - GBP/USD
EUR/JPY - EUR/USD - USD/JPY
GBP/CHF - GBP/USD - USD/CHF
GBP/JPY - GBP/CHF - CHF/JPY
As you can see above, each ring consists of 3 pairs. What you should also note is that each ring consists of 3 currencies. For example, if we take the following ring:
GBP/JPY - GBP/CHF - CHF/JPY
We can see that we have 3 currencies present in this ring namely GBP, CHF and JPY. Now when we are buying the GBP/CHF and the GBP/JPY, we are infact also buying the cross pair CHF/JPY as well.. So, we have to actually also open a buy position on the CHF/JPY pair as well to stabilize the account.
For example:
1. You buy 1 lot GBP/JPY
2. You buy 1 lot GBP/CHF
3. You also have to buy 0.8 lots of CHF/JPY in order to stabilize the accounts
After we have done this, we wait for the currencies to move and when we decide to take some profits, we close all the orders altogether. The aim is not to make profits from each individual trades, but to make an overall profit from all the 3 trades together...
You should use the ADR, Average Daily Range indicator to know how much the pair has already moved before entering into the trades. You dont want to trade a currency ring when all the 3 pairs has already move beyond their 75% daily range... The best spot is when the currencies has moves 25% of the daily range, then you open your trades and wait for the currencies to reach the 50%-75% daily range before closing your trades... You should not be waiting for a fixed profit level to be reached, you should just be satisfied with whatever you are getting and get out of the trades.
You can use an equity trailing EA which will trail the overall profits on the account. Trailing the entire account profit is better than trailing individual orders separately.
The best currency ring to trade are those that has the most activity is the GBP/USD, USD/JPY and GBP/JPY. As you can see, all the 3 currencies present in this ring are the Big Movers of the market.
It is advised that you trade only 1 currency ring per account as this will decrease undue drawdown that your balance can suffer with these type of strategies. It is also better in the sense that you will be able to study the behaviour of each ring separately and may better assess their performance.
You should always start with very small lots initially... for example, if you have a 10,000usd account, you can start with 0.10 lots and then increase it as your balance increases. Compounding your earnings is among the best ways to increase your profits and grow your account.
I hope that you benefit from all these. Take your time to study and practice the method on a demo account... A week or so is definitely not enough to get a good feel of the system, so be patient and enjoy it..
The last trading week of the quarter was uneventful as investors celebrated the equity market performance… European stocks were had their best quarter since 2009, up 7%, while Japan’s Nikkei index rose nearly 20% in the quarter, for its best performance in 24 years. MSCI’s benchmark emerging equity index was up 13.7% on the year. In the US, the S&P500 rose 12%, for its best quarterly performance since Q3 2009, while the DJIA had its best Q1 since 1998.
The main focus for the early week was on the Fed’s policy direction for QE3 as comments from Chairman Bernanke affirmed accommodative policy must continue. He noted that though the data is getting more encouraging the recovery is not yet self sustaining, and that policy options remain on the table if things get worse. Final Q4 US GDP met most expectations at +3.0%, however there were some worrying signs in durables goods and other manufacturing numbers; and without doubt, investors will be focusing on the upcoming NFP release next week for direction of USD…
In Europe, a stronger EFSF/ESM firewall fund was announced with a total of €800B, just in time for heightened tensions in Spain, where the government insisted that it did not need to consider a bailout for its banking system or request access to emergency funds.
In energy markets, crude prices fell as WTI crude, which nearly hit $109 last week, was down to $103 by Friday. Equity weakness in China helped lower prices for industrial metals somewhat, although copper prices still closed out Q1 up 11%.
1. Mon April 2, 2012 – 4:30am NY Time – UK Manufacturing PMI
2. Mon April 2, 2012 – 10:00am NY Time – US ISM Manufacturing PMI
3. Mon April 2, 2012 – 9:30pm NY Time – AU Retail Sales
4. Tue April 3, 2012 – 12:30am NY Time – AU RBA Interest Rate
5. Wed April 4, 2012 – 4:30am NY Time – UK Services PMI
6. Wed April 4, 2012 – 7:45am NY Time – EU ECB Interest Rate
7. Wed April 4, 2012 – 8:15am NY Time – US ADP NFP
8. Wed April 4, 2012- 8:30am NY Time – EU ECB Press Conference
9. Wed April 4, 2012 – 10:00am NY Time – US ISM Non-Manufacturing PMI
10. Thu April 5, 2012 – 7:00am NY Time – UK BOE Interest Rate
11. Thu April 5, 2012 – 8:30am NY Time – CA Employment Change
12. Fri April 6, 2012 – 8:30am NY Time – US NFP Employment
With Friday being Good Friday in Europe with most banks and market closed, Friday’s NFP could be extremely volatile IF we get a strong surprise.
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