GU, UJ, and USDCAD TRADING PLAN (04-05-2015)

1-GU trading plan.

Expect a bearish consolidation under 1,52, but look for buying signals above 1,50.

On the weekly time frame GU shows a big pin bar/gravestone doji starting from 1,55 and ending under a weekly fib line (the 23,6) at 1,517.

GU WEEKLY CHART.

GU_W

On the daily we see the pair strongly reversing from the 1,55 level. It also broke down a support around 1,52. Considering the strength of Friday candle, we will be looking to sell under 1,52, to go back to a support at 1,50.

GU DAILY CHART.

GU_D

 

2-USDJPY trading plan.

Look for buying signals above 119,25 to go back to a range resistance at 121,5. Mind the 120 level on the way.

USDJPY has been ranging over a strong fib level support around 119. The weekly candle is a bullish Marubozu, nearly a bullish engulfing candle.

USDJPY WEEKLY CHART.

UJ_W

The Friday daily candle is a solid bullish one, rising up from the 100 SMA at 119,25 and breaking up the 20,40, and 55 SMAs. As long as we are above that 100 SMA (119,25), we will be looking to buy signals to retest a resistance around 121,5. We will not sell above the ,886 fib line support at 118,5.

USDJPY DAILY CHART.

UJ_2

3-USDCAD trading plan.

Look for selling signals under 1,235 to go down to 1,2.

On the monthly chart, USDCAD has been breaking down the 200 SMA around 1,225 and is now retesting it. We expect the retest to fail -all the more as we also see a fib line resistance at that level-, and the pair to keep on going south.

USDCAD MONTHLY CHART.

USDCAD_M

On the weekly chart we see a hammer rejecting/retesting a 38,2 fib support level around 1,2. We are consolidating up from that level.

USDCAD WEEKLY CHART.

USDCAD_W

On the daily chart, the pair broke down a channel support at 1,235, then had some problems to break the 100 SMA that stand support around 1,225-1,2275. The pair eventually managed to go lower, but could not pass the 1,20 support level, and is now in a bullish consolidation above it. We will be looking to sell rallies into resistances as long as we stay under the broken channel level, that is 1,235.

USDCAD DAILY CHART.

USDCAD_D

 

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