http://blogs.fxstreet.com/techtrading/2010/02/02/usdchf-to-find-support-at-10500/#comments

USD drop extended to 1,0500 and my buy order has been filled at 1,0504 (1 hour 200 SMA). Risk reward ratio to this setup is favorable but as one my readers pointed out, the correlation is extremely high with the EUR/USD and if euro starts to pick up, my usd/chf trade could easily get stopped out. I’ll update with my trade plan result.

USD/CHF in 1 hour:

César B.Leiceaga

1,0640 level was tapped on Fridays session, short term scenario suggests some profit taking on the USD due to the overbought situtation. A retrace to 1,0500 previuos resistance and now trendline support is likely to happen, below we’ll find 38,2 Fib support at 1,0440/50. I looking for a trend following trade, buying around 1,0500 -1,0480, stop below 1,0440 and targeting above 1,0640.

USD/CHF in 4 hours:

César B.Leiceaga

I’ve triggered my sell order at 126,50 and moved my stop from 127,20 to breakeven, assuring a risk free trade.

I’m closing half of my position at 125,50 - 125,20 area (this months lows). Lets see how it plays out…

EUR/JPY 1 hour chart:

César B.Leiceaga

http://blogs.fxstreet.com/techtrading/2010/01/20/usdcad-another-breakout/

The move to 1,0540 has been completed, USD bulls have pushed the pair above the 61,8 Fib resistance and now its time to face resistance at 1,0600 - 1,0640 area.

My trading plan: I’m looking to short at 1,0627, place my stop at 1,0677, targeting 1,0480 -1,0520 area.

Please note that this is only an opinion, do not take this post as a direct trading recommendation, nor as financial advice.

USD/CAD trading plan:

César B.Leiceaga

Following a trading strategy proposed a week ago:

(http://blogs.fxstreet.com/techtrading/2010/01/07/usdcad-reaching-10200-support-area/)

USD/CAD found the bearish trendline resistance at 1,04 after rebounding from 1,0252. But still,I’m a buyer between 1,0200-1,0250. Could it breach last weeks lows or did we find a short term bottom? What dou you guys think? I would like to read your opinions…

USD/CAD in 4 hours:

César B.Leiceaga

I don’t usually trade this pair, but quoting around 1,4700 support in a extreme oversold condition attracted my attention.

Having this fact in mind I’m placing a buy order at 1,4734 with a stop loss at 1,4674 and a targeting the 38,20% Fib resistance around 1,4860/80 area.

EUR/CHF Daily Chart:

César B.Leiceaga

The broken range between 1,4220 and 1,4450/80 has pushed the euro to higher levels. Staying above the Daily 200 SMA gives a bullish long term outlook for the pair.

Looking at the 4 hour chart, price action is approaching significant resistance levels such as 38,2 % Fib (from the whole bear move 1,5150-1,4220) that lays exactly at 1,4570 and the 4 hour 200 SMA at 1,4630’s.

My trade plan is to sell on any rallies in between the 38,20% and 61,8% Fib levels drawn on the chart.

EUR/USD 4 hour chart:

César B.Leiceaga

The pair is trapped in a 200 pip range, close to 0,9050 resistance zone I’m considering shorting the pair for a 100-150 pip ride risking 0,9110 (60 pip stop).

I’ve left Fib retracements that will help me exit the position. Have in mind the 4 hour Bearish divergence in the RSI indicator.

EUR/GBP 4 hour chart:

César B.Leiceaga

Hi guys I’m back! Hope you all had a great Christmas and Happy New Year to everyone!

Back to business… I’m taking a close look a one of my favorite pairs to trade because I’m tempted to buy close to these levels. The strategy is simple, buy at support and sell at resistance. In this case I’m a buyer in between 1,0200-1,0250, tightening my stop to 1,0160 area, leaving enough space for any whipsaws and possible stop hunts below 1,02 support. My objective 1,0370-1,0400. Lets see what happens…

USD/CAD 4 Hour chart:

César B.Leiceaga

(http://blogs.fxstreet.com/techtrading/2009/11/03/eurgbp-trade-plan-update/)

Finally closed the entire position at 0,8930 because of today’s FOMC Interest rate announcement and BOE’s meeting tomorrow. I closed my position 10 pips above my target because I couldn’t get filled at first and I decided to close to the market, instead of risking another bunch of pips.

That was a good trade, making 122 pips with no choppy price action included made this trade much easier to handle.

César B.Leiceaga