Forex Chart – Oct 12, 2015: USDCAD, USDSGD, CHFJPY

USD/CAD 

The USDCAD break of a clear support level on the daily time frame. I’ve marked this old support level, which now act as the new resistance level. If price can pull back and print a bearish price action at that level, I will go short. Keep on watching the intraday, like 4-hour and 1-hour chart.

USDCAD daily chart

USDCADDaily-151012

USDCAD 4-hour chart 

USDCADH4-151012

USD/SGD

Price on USDSGD (US dollar vs Singapore dollar) moving back to the important support level on the daily time frame. Just preparing 2 ways plan on this pair. Price is in the bearish mode right now and could break through the support level, but on the opposite side if we can get a signal to go long there is space for the price to go up.

USDSGD daily chart

USDSGDDaily-151012

CHF/JPY

Right now, price on CHFJPY is on the important daily resistance level. Price has respected this daily resistance level in the past, as you can see on the daily chart that is marked below. If the price could form bearish signal on the daily or intraday time frame, we could open a short trade on this pair.

CHFJPY daily chart – zoom out

CHFJPYDaily-151012

CHFJPY daily chart – zoom in

CHFJPYDaily-151012-zoom in

 

Advertisements

2 comments

  1. Great analysis, I am with you on USDCAD – waiting myself where to add a short position. I am long on CAD as a currency on EURCAD, CADCHF and CADJPY, but have missed the entry on USDCAD.

    We have also marked exactly the same level on CHFJPY, I am watching it very closely as well:

    However, I am holding a long position on this pair and expecting it to break through this resistance. Just as you said, if it fails to do so, I will probably have to reverse my bias and go short as well. I made sure to cover part of my long at the current price, as it is not certain whether the current resistance will be broken.

    Looking forward reading your opinion on other currencies.

    Like

    1. thank you, Anatoliy

      nice move on your EURCAD. Looking forward reading your opinion also…

      Cheers.

      Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: