5. TRADE IDEA FOR THIS WEEK LONG EURAUD-SUCESS

My analysis shows that the daily trend seems to change and wave is strogly bullish. Looking at the chart seems that the pair may be getting to rise . As a result i will  buy at  1.2440 with a S/L at 1.2250 and T/P 1.2795.

Order:
1. EURAUD BUY @  1.2440  S/L1.2250, T/P 1.2795  . 

If not executed order expires  on the 24 of March


UPDATED 25.03.2012 : The posisition has been activated and is still open. I have moved my s/l in  break even  (1.2440)

UPDATED 30.03.2012: The position reached its t/p target and terminated(+355 pips)

OUTLOOK FOR THE WEEK AHEAD (19-26 MARCH)

The main events for this week are the Greek CDS payment on Monday. Bernanke speech on Tuesday and some UK economic data that are announced on Tuesday - Wednesday. Also rising  oil prices might create a momentum.Overall markets are lost in a weird euphoria and so far there is no main event to change that 

Below we can see the weekly analysis for the G7 currencies . The main two changes from last week that worth noticing are the bullish weekly change in trend and momentum that is building in the GBPUSD and in the EURJPY . Both seems to getting ready for a move higher.  In the other hand EURUSD did not gave the sell signal that we were expecting  (although the analysis show that we are still in a downtrend) and seems to cosolidating without a clear direction.

CURENCIES	DAILY		WEEKLY
	TREND	WAVE	TREND	WAVE
EURUSD	↓	↓	↓	↓
	-1	-5	-5	-1
EURJPY	↑	↑	↑	↑
	7	5	3	5
EURAUD	↑	↑	↓	↓
	1	5	-7	-3
EURCHF	↓	↑	↓	↓
	-3	1	-5	-5
USDCHF	↓	↑	↑	↓
	-1	3	1	-1
GBPUSD	↑	↑	↓	↑
	1	3	-3	5
USDJPY	↑	↑	↑	↑
	7	5	5	5
AUDUSD	↓	↓	↑	↑
	-1	-5	5	5

4.TRADE IDEA FOR THIS WEEK : LONG USDCHF-SUCCESS

My analysis shows that USDCHF is getting ready to rise. Trend is slighlty negative but it has a very strong upward wave which might be able to change the trend. As a result i will place a limit buy at  0.9160 with a S/L at 0.9150 and T/P 0.9300. I will also pay attention to EURUSD which is getting ready for a new big move downwards . That means that i may have to publish the idea in the middle of this week (when i get confirmation from my system)

Order:
1. USDCHF BUY @ 0,9160  S/L 90.50 , T/P  93.00  . 

If not executed order expires  on the 16 of March

Updated  17/03/2012 : My trade has been triggered on the 13th March and closed one day later  - Total profit of +140 pips                       

OUTLOOK FOR THE WEEK AHEAD (10-17 MARCH)

Starting this Month i will be publishing  a table of the daily and weekly outlook of the G7 currencies every Sunday. The analysis cosist of two columns Trend- Wave . Trend column shows the tendency of a currency to go up or down.Wave shows the tendency of a currency within a trend. Note prices rise in waves and not in a straight lines.

Looking my analysis below  i can say that the currency that is in a strong uptrend is USDJPY followed by the EURJPY. In the other hand, EURUSD is getting ready to resume its strong down trend again!

 

CURENCIES	DAILY		WEEKLY
	TREND	WAVE	TREND	WAVE
EURUSD	↓	↓	↓	↓
	-1	-5	-5	-1
EURJPY	↑	↑	↓	↑
	7	1	-3	3
EURAUD	↓	↑	↓	↓
	-1	3	-7	-5
EURCHF	↓	↓	↓	↓
	-5	-3	-5	-5
USDCHF	↓	↑	↑	↓
	-1	5	1	-1
GBPUSD	↓	↓	↓	↑
	-1	-3	-5	1
USDJPY	↑	↑	↑	↑
	7	5	5	5
AUDUSD	↑	↓	↑	↑
	3	-5	7	5

REVEW OF LAST WEEK'S EVENTS (03 March- 10 March)

Main event of last week was for once more GREECE!  The restructure of debt has been concluded after Greece has initiated the CAC's and ISDA has announced that Greek CDs should be paid. However so far we have no main reaction from the markets since many believe that it has been already priced in. eurusd fall but not dramatically.

As it concern EURCHF now, last week we had the release of the report from   KPMG on the SNB member financial transactions. Nothing illegitimate has been found for Jordan making him a very likely candidate for SNB president .EURCHF has been consolidating near 1.2050 levels without any dramatic moves. Economic data released last week also indicated that the Swiss economy is going to a mild recession. Next week we have the meeting of SNB for rate decision and we expect the new president to be announced during April.

Finally yen has been the main mover last week getting weaker against all crosses. USDJPY has managed to break above 81.50 level and advancing. I am still in this trade and following closely any major development 

Overall, my positions are doing ok and look promising for next week