Over the week, our account saw 117 pips rise in the overall
positions held for the week based on the picks by our Technical strategies and
experts
Breakdown of position taken:
|
Symbol
|
Pips
|
|
GOLD
|
300
|
|
GBP/USD
|
-139
|
|
USD/CAD
|
-82
|
|
NZD/USD
|
-196
|
|
TOTAL
|
117
|
|
|
|
INVESTORS
RESUMES BID ON THE DOLLAR
Investor’s change in sentiment bidding up the Dollar late
last week, we could see resumption in the uptrend trend on the dollar. After pulling
back to test the resistance turned support at 83.02 with Doji formation, the
Dollar index encountered rally up supported by the uncertainty rocking the European
economy and unfavorable quarterly results from US companies. With the financial
crisis not near to being finally solved, risky assets saw massive selloff.
Technically, Dollar index which measures the cumulative
summary of baskets of major dollar crosses would in the week ahead probably see
uptrend resumption. A break above 83.95 resistances would see the index heavily
bidding up.
Technical Outlook for July 2012
Below, technical overviews and
analysis for key currency pairs and commodities based on market activity at the
end of today's U.S. session as at July 20th 2012. This information
is a comprehensive summary derived from simple and exponential moving averages
along with key technical indicators and significant price levels shown for
specific time intervals.
|
Symbol
|
Type
|
Hourly
|
4 Hours
|
Daily
|
Weekly
|
Monthly
|
|
|
EUR/USD
1.2158 |
Bullbear Indicator:
|
Strongly Sell
|
Strongly Sell
|
Strongly Sell
|
Strongly Sell
|
Strongly Sell
|
|
|
|
|||||||
|
GBP/USD
1.5619 |
Bullbear Indicator:
|
Strongly Sell
|
Neutral
|
Neutral
|
Sell
|
Sell
|
|
|
|
|||||||
|
EUR/JPY
95.41 |
Bullbear Indicator:
|
Strongly Sell
|
Strongly Sell
|
Strongly Sell
|
Strongly Sell
|
Strongly Sell
|
|
|
|
|||||||
|
USD/CAD
1.0127 |
Bullbear Indicator:
|
Buy
|
Neutral
|
Neutral
|
Neutral
|
Neutral
|
|
|
|
|||||||
|
Gold
1583.60 |
Bullbear Indicator:
|
Buy
|
Neutral
|
Neutral
|
Neutral
|
Buy
|
|
|
|
|||||||
The above recommendations were based on our in-house
analysis approach.
DISCLAIMER
Bullbear Trading house or anyone
involved with Bullbear Trading house will not accept any liability for any
trading loss or damage as a result of reliance on the information contained
within this email including data, quotes, charts and buy/sell signals. Please
be fully informed regarding the risks and costs associated with trading the
financial markets, it is one of the riskiest investment forms possible.
OUR
PICK FOR THE WEEK
Our team of experts has pi instruments for forecast into
next week. The method and strategy for considering and picking them are based
on Technical analysis with full consideration of current fundamental outlook.
Technical tools adopted for selection purpose has been
tested and use by our in-house trading unit. Pivot point analysis, Fibonacci
analysis, candle formation, chart and price patterns with other dynamic support
and resistance determination tools.
On each chart the following would be clearly stated:
·
Exact Entry point
·
Stoploss and Targets
·
Risk and money management calculation
USD/CAD
The week closed above the 50% Fibonacci retracement level
of the prevailing primary trend 1.0445 – 09799. With a daily engulf pattern
above the 1.0121 fib level and Support level 1.0100 making a confluence of zone.
Our pick forecast picks a buy at 1.0130 with stoploss placed at 1.0050, target
levels at 1.0250 and 1.0400. A break below 1.0050 would see a complete reversal
of the uptrend to 0.9800.
Risk/Money
management:
We recommend you place 2 half lot sizes of a supposedly full
lot, close half at the first target and let the rest run.
