EUR

Eur is struggling in front of our projected support 1.3630. With the bearish trend that has been so well established, both technically and fundamentally, there is little reason that it shall suddenly or soon end. We will insist on being greedy. Sit tight with short with stop at break even.

GBP

Yesterday’s weak retracement did not help the bearish trend. Immediate support at 1.5470. Taking that out will target our short term target 1.5380. Trade accordingly. Sit tight with short with break even stop.

AUD

As suggested in previous week, the only way to have long aud position is by cross vs non-US currencies. Our view maintain unchanged.

JPY

Market closed consecutively below daily kumo confirmed bearish trend. Daily kumo is very thick representing huge upside resistance. Our suggestion to sell US at 89.80 is still valid.

GBPJPY

Market is challenging our most important support 138.30. Closing below, we cannot see where will be the bottom. Sell on every rally is the only choice.

EURJPY

Market is going to challenge the all mighty 120 level. Closing below that level, the only logical low is all time low at 112.00. Sell on rally is the only choice.

GOLD

As expected, the minor bullish spike reversal got no follow through. Present level is so close to major support 1038.50, building short position at present level not justified. Chart pattern gave no reason to pick bottom. Suggest sitting aside.

EUR

Eur made an almost 3% dip within a week which confirmed our bearish view.  Market dipped inside weekly kumo and supported at our projection- 1.3630. Immediate downside target weekly kumo lower band at 1.3460. We are enjoying over 300 pips windfall profit. We revelled in the profit but chart pattern made us greedy.  Focusing on the market now is about balancing fiscal safety and the premium. Sit tight with short, move stop down to break even.

GBP

Our projected low at weekly kumo lower band 1.5320 is about to materialized. Daily and weekly were both very bearish. Sit tight with short, move stop down to break even. Aggressive trader can scalp the market by taking profit at or about 1.5380. If successful, remember to go back short if there is a 100-150 pips advantage.

AUD

Aud dipped to our projected low 0.8570 and bounced back about 100 pips to close with lower and upper extreme tails. If readers had taken queue to go long in Aud vs Eur, you have a smart profit. Chartwise, it forbids us to build long position against US, sit tight on the cross.

JPY

Daily dipped below kumo, an outside bearish weekly pattern, US trend is down. Aggressive traders can build short at 89.80. If fill, stop at 91.50.

CAD

We have been lucky to got long at 1.0630 and we only missed the stop by a few ticks. Market closed as a cross showed high uncertainty. Last week, Cad was the best performer against the US. Suggest to move stop for US long position to break even.

CHF

We built long at 1.0530. Sit tight with long position with stop at 1.0440.

NZD

We were short at 70.80. Sit tight, move stop to break even.

GBPJPY

Market flushed down to weekly support 138.30. We missed this opportunity. There should always be chances for us to go aboard again.

EURJPY

Market flushed down after daily , weekly and monthly are in line trading below respective kumo. We missed the bear train and have to hope for another opportunity.

GOLD

The magnitude of the bullish daily spike reversal cannot offset the huge down flush made on the previous day. Market got support at weekly modal point 1038.50 – the level that India went long purchasing IMF stock on Oct 19-30 2009. Chart pattern gave no good reason to pick bottom. Suggest to sit aside.

SILVER

We missed the high by less than 0.30 cents and market flushed down. Immediate support at weekly kumo upper band 14.20. Trend is getting bearish.

EUR

Eur exhibited extremely bearish trend. Daily, weekly and monthly are in line being bearish. Weekly and monthly dipped and closed inside respective kumo making monthly kumo lower band 1.3700 to be our immediate downside target and weekly kumo lower band 1.3460 our ultimate medium term objective. Sell on rally is the only choice. 1.4000 level has become the impossible retracement high. If Euro retraces at the beginning of the month to 1.3950, be short. If fill, stop at 1.4080.

GBP

Daily flushed down and closed below 1.60 level confirmed bearish trend. Weekly dipped inside kumo erased our last worry that market is still trading above respective kumo. Immediate support 1.5930, then 1.5880. Aggressive downside projection can go to weekly kumo lower band at 1.5320. Sit tight with short with stop at 1.6390. We hope to catch the bearish trend on its infancy stage.

AUD

Last year, we spotted the Aud’s  uptrend in March and we repeatedly pointed out that 0.8820 was a major resistance ( please refer to 2009 Sept’s and Oct’s commentary). At present,  0.8820 has switched from last year’s major resistance to present’s support. This level coincides with weekly ichimoku slow line, if taken out; immediate downside projection will be 0.8750, then monthly kumo upper band 0.8570. Chart had turned very bearish. We caught the uptrend last year and if the trend reverses, we hope to notice it when it commences. We were short at 0.8900. Sit tight with 90.50 as stop.

JPY

Strong US did not spill over to Jpy. Monthly chart was capped by long term trend line. Daily’s support at kumo was fragile. This currency pair is at the cross road. We were short at 90.50 maintain strict stop at 91.60. Risking 100 pips for a potential new trend is justified.

CAD

Weekly had formed a double bottom at our projected target 1.0220. Our short position was stopped out at 1.0610. Monthly chart got support at kumo lower band, Retracement can go as far as weekly modal resistance at 1.1020. With US bullish trend, Cad was the less affected. Aggressive trader can buy on dip say at 1.0630 with tight stop at 1.0540 for a quick play.

CHF

We were too cautious to exit US long position prematurely. Weekly pattern showed a break to the top side. Immediate upside projection is at monthly ichimoku slow line at 1.1033.If market retraces to 1.0530, be long again. If fill, stop at 1.0440.

NZD

Closing below weekly support at 0.7060 turned chart bearish. Monthly dipped and close below kumo confirmed our bearish view. If market retraces to 0.7080, jump on the bear train. If fill, stop at daily kumo upper band 0.7230.

GBPJPY

Daily, weekly and monthly are in line being bearish. Prepare to build short position if market retrace to 146.30. If fill, stop at 147.80.

EURJPY

Market made a bearish close at month end. Closing below weekly kumo brought daily, weekly and monthly in line being bearish. Sell on rally is the only choice. Our suggestion to build short at 127.50 is still valid.

GOLD

Chart turned very bearish. Sell on rally has become our immediate strategy. Aggressive trader can build short at 1088.50. If fill stop at 1101.

SILVER

Another down week led to monthly kumo upper band. Sell on rally is the only choice. Aggressive trader can build short at 17.10. If fill stop at 17.90.

EUR

Our previous bearish stand on Euro was greatly disturbed by Omaha’s anti-capitalist approach. We cannot tell how the market will react to this. Friday’s support at our projected support 1.4060 (pls refer to 01/21 commentary) gave short term bottomish feeling.  Weekly pattern showed a break down from a parellel channel. With weekly kumo upper band at 1.3910 and ascending, the risk to reward for being short at present level and under present political situation seemed not justified.  Suggest standing aside and letting market digest Obama’s hawkish stand towards bankers.

GBP

Chart wise, bearish trend persisted. Present political situation goes beyond the expectation of technical analysis. Suggest to exit short for profit right at Monday’s open or at least move stop to break even. Let the chart tells us how market is going to react on such news.

AUD

Daily closed as an inverted hammer just below daily kumo, weekly showed ugly text-book shooting star pattern. Chartwise, aud turned very bearish. On the same token as Eur and Gbp, suggest sitting aside.

JPY

Suddenly, Yen became the refuge currency. Chartwise, US turned very bearish. Closing below 90 made sell on rally the only choice. Aggressive trader can build short at 90.40. If fill, stop at 91.50.

CAD

US dipped to our projected support 1.0220 and made a very bullish retracement. The reversal pattern made our short position very fragile. Maintain strict stop at 1.0610.

CHF

With increasing uncertainty on US dollar, suggest exiting long for profit and sitting aside.

NZD

Chart turned very bearish. We shall take 0.7000 as bull and bear spread. Not until market tells us the reaction towards Obama’s stand, suggest sitting aside.

GBPJPY

Daily and weekly turned bearish. Aggressive traders can build short at 146.60. If fill, stop at 147.80.

EURJPY

Daily and weekly support is in range 125.00-126.50, coincided with weekly kumo lower band. Chart turned impossible if close below weekly lower band. Sell on rally is the only choice. Aggressive trader can build short at 128.60. If fill, stop at 130.30.

GOLD

Market is going to test long term weekly trend line at 1072. The daily downslide momentum is weakening by closing as a hammer spike reversal. Weekly bearish pattern forbid us to pick bottom. The downside projection as per our January 4^th commentary is still valid.. If US uptrend is disturbed by Obama’s attitude, prepare to jump back on the bulls’ wagon.

SILVER

We are lucky to exit long at break even. Chart turned absolutely bearish. Closing below weekly ichimoku slow line 16.60 shall point to weekly kumo upper band 12.40. Sell on rally is the better bet.

EUR

The tentative support at 1.4310 was taken out. We have been bearish on Eur for quite some time and now it surfaced again. Aggressive traders should lower the short eur  to suggested level to 1.4350 . If fill, stop at 1.4540.

GBP

We were lucky to exit our short position right at yesterday’s open or else the short will have been stopped out. Gbp surged into daily kumo but closed with upper extreme tail at 1.6430. As commented on Monday, daily and weekly chart pattern do not agree with each other. Suggest sitting aside.

AUD

Chart pattern made us nervous. Sit tight with long with stop ay 0.9140.

JPY

Yesterdays outside day gave bulls an upper hand again. Pattern is not good enough to return us to the bull’s camp. Suggest sitting aside.

GBPJPY

The bottom formation is getting more intact day after day. Closing above 150.00 level shall tempt us to return to the bull’s camp.

EURJPY

Chart is getting more bearish. Suggest lowering the selling level to 130.50. If fill, stop at 131.50.

GOLD

Market congested inside daily kumo with bullish bias. Daily kumo upper band is descending to 1143.50. Aggressive trader can stop buy at 1144.00. If fill, stop at kumo lower band 1124.

EUR

Eur was again supported at 1.4339 level making trend unclear. Suggest moving our selling order up to 1.4480. If fill, stop at 1.4580.

GBP

Gbp is going to challenge daily kumo which is going to narrow into a point today. As commented yesterday, weekly pattern is in favour of bulls. We are going to follow our yesterday’s suggestion to exit our short this morning at a small loss.

AUD

Bullish reversal supported by daily kumo turned chart neutral again. Sit tight with long with 0.9140 as stop.

JPY

Market closed as a cross with narrow range reflected holiday uncertainty. Suggest to sit aside.

GBPJPY

Yesterdays inside day did not give any clear clue. Suggest sitting aside.

EURJPY

Daily kumo is thick with upper band levelling showing huge upside resistance. Our suggestion to build short at 132.20 is still valid today.

GOLD

Kumo is getting narrow and is preparing to break out one way or the other. Sit aside for clearer trend.

EUR

Daily resumed bearish trend in line with bearish weekly pattern. Daily and weekly trading range are in line between 1.4310-1.4510. Taking out support will point towards weekly kumo upper band 1.3910. Weekly kumo is ascending pushing up support. Suggest to built short position at 1.4420. If fill, stop at 1.4520.

GBP

Daily and weekly pattern do not agree with each other. Daily failed to trade back above kumo but closed with lower extreme tail at 1.6220 making weekly kumo’s support substantial. We were short at 1.6270; if market cannot take out 1.6220 at the beginning of the week, say at Monday end, suggest to exit short position. Maintain strict stop for short position at 1.6430. If close below 1.6220, move stop down to break even immediately.

AUD

0.9330 showed its power again. Daily bearish engulfing and weekly toppish pattern made us feel uncomfortable on our long position built at 0.9210. Daily kumo is leveling at 0.9157. Move stop up to 0.9140 to minimize risk. I tried to find out when RBA is having the first meeting in 2010 which shall give a good indication of rate movement. I shall advise my finding asap.

JPY

Daily and weekly turned bearish for dollar. We cannot tell how will the weekend political scandal affect the currency. Suggest to sit aside.

CAD

Our projected support at 1.0220 supported US last week. Closing back marginally above did not do too much good to US. Last week’s high shy from our suggested short entry by less than 30 ticks. Will keep this suggestion to build short for another week.

CHF

Last week’s narrow range did not offer too much clue. Suggest to move the stop up for our long position to daily kumo at 1.0140 to minimize risk.

NZD

Last week’s low missed our long entry suggestion by 40 ticks. Daily kumo is leveling at 0.7315 and there shall be good support at this level. Suggest to keep the building long suggestion for another week.

GBPJPY

Daily bearish textbook shooting star pattern eroded the hope for weekly to challenge kumo. Since the onstart of 2010, market traded with huge alternate up and down days nade trading impossible. Suggest to sit aside.

EURJPY

Daily dipped and closed below kumo made weekly kumo lower band 126.40 our immediate target. Aggressive trader can build short position at 132.20. If fill, stop at 133.20.

GOLD

Alternate up and down day congested inside daily kumo made trend unclear. Not until daily kumo is taken out one way or the other, suggest to sit aside.

SILVER

Weekly closed as cross gave uncertainty. Move stop to break even to minimize risk.

EUR

Eur struggled along 1.4500 level for three consecutive days giving no clear direction. Suggest sitting aside.

GBP

Another upday pushing towards daily kumo made our short position fragile. Sit tight with 1.6430 as stop.

AUD

Aud is going to test 0.9340 again. Closing above this important resistance imply a break to the upside again. Sit tight with long with stop at 0.9120.

JPY

Market fluctuated between ichimoku skow and fast line giving no clear direction. Suggest sitting aside.

GBPJPY

The heavy resistance at 15000 level can hardly be neglected. A clear bottom had been built above daily kumo. Buy on dip is a better bet.

EURJPY

Market traded above daily kumo shortly but closed back down inside kumo giving no clear trend. Suggest sitting aside.

GOLD

Daily kumo is narrowing and upper band is descending. Consolidating sideway for a couple more days may help market to surge upside through kumo again. If this happen, bulls will be back. Aggressive trader can stop buy at 1154.00. If fill, stop at kumo lower band 1124.

EUR

Chart pattern did not give us any new indication. Suggest sitting aside.

GBP

We built short position at 1.6270. The logical stop should be 1.6430. Set the stop at this level accordingly.

AUD

Yesterday’s high shy from our take profit level by 3 ticks and our long position remained intact. Daily kumo’s support turned chart less bearish. Logical stop should be at 0.9120. Move it down accordingly.

JPY

The official empty talk brought nothing but uncertainty. Suggest sitting aside.

GBPJPY

Alternate huge up and down days made trading very difficult. Kumo upper band offered good support again. Closing back above 150 may tempt us to be a bull again. In the mean time, suggest sitting aside.

EURJPY

A bullish reversal from daily kumo lower band made chart less bearish. Closed within kumo made trend unclear. Suggest sitting aside.

GOLD

Market struggled inside daily kumo gave no clear direction. Suggest sitting aside.

EUR

A winning trade ends up to be a losing one. Yesterday’s action formed a good bottom. The sharp collapse that took Eur from 1.52 to about 1.42 in less than two weeks need a good retracement. We are still of the opinion that after retracement, Eur is more likely set to stumble hard again. In the mean time, suggest to sit aside.

GBP

Closed back above 1.6000 only represent retracement after steep collapse. Daily kumo is levelling at 1.6290 and there shall be huge selling pressure. Aggressive trader shall build short position at 1.6270. If fill, stop at previous upper extreme tail at 1.6410.

AUD

0.9340 capped aud’s advance again. Aud closed clearly above daily kumo confirmed that bulls are back. Buy on dip is a better bet. Aggressive trader can build long at 0.9210 or stop buy at 0.9350. If either case get fill, stop at 0.9140.

JPY

Yesterday’s narrow range did not offer clear clue. Sit tight with long with 91.40 as stop.

GBPJPY

The momentum of previous rebound from daily kumo 146.00 was jeopardized by yesterday and day before’s pattern. Suggest to sit aside.

EURJPY

Market closed as a cross consecutively indicated high uncertainty. Suggest to sit aside.

GOLD

Another up day surged deep inside daily kumo. Not until market closed above daily kumo at 1170, we will not be committed bulls.