The following is the hourly chart of AUDCAD currency pair as of DEC. 30th, 3AM EST. If you observe the currency pair it has formed MACD divergence. Moreover

1) CCI has reached the overbought region and it is trying to cross below 100.

2) Stochastics has reached overbought region and it is trying to cross below +80.

So I am expecting the currency pair to come now. Check the following picture.

audcad macd divergence

The following is the daily chart for EURNZD as of DEC. 30th., 3AM EST. If you observe this you can see that it is on a trend line and the trend line was broken with a strong bearish candlestick. So I am expecting the graph to come down more. Check the following daily chart for this currency pair.

eurnzd daily chart trend line broken

The following is the GBPCHF daily chart as of DEC. 30th, 3AM EST. If you observe the daily chart it is on a trend line and it was broken with a strong bearish candlestick. Moreover the bollinger bands is downwards. So even though the stochastics and CCI are in oversold region, I am still hoping it will further come down. Check the following daily chart for GBPCHF.

GBPCHF daily chart trend line broken

The following is is the hourly chart of EURAUD as of Dec. 28th, 12 AM EST. If you observe the graph you can see that

1) A support line is formed (trend line).

2) CCI has reached below -100 which is oversold region.

3) Stochastics oscillator also reached below 20 which is the oversold region.

I am thinking that the hourly graph may reach the trend line where the trend line acts as a strong support for it and then it will reverse back. I don’t think that it will break the support line as the CCI and Stochastics are already in the oversold region. I am thinking the reversal will happen at or after the beginning of the London market which is at 3AM in the EST time zone.

So the following are the different conditions I can think of for entering the long trade for this currency pair.

1) If a bullish engulfing candles ticks are formed at the resistance line at after the beginning of the London market.

2) When the CCI and Stochasticks try to cross above the oversold region at or after the London market start.

euraud hourly chart on a trend line

Observe the four hour graph also. You can clearly see that the four hour graph also on a trend line. Also the CCI and Stochastics have already reached the oversold region. So for this four hour chart also there is a very good opportunity to enter a long trade. I can think of the same different conditions I mentioned for hourly chart for entering the long trade. Check the following four hour graph.

euraud four hour chart on a trend line

The following is the AUDUSD daily chart as of DEC 24th, 2009. If you observe the chart, you can see that there was trend line support which was broken earlier by the daily chart. Now the stochastics and CCI have reached the oversold region. The stochastics has crossed below the 20 line and now trying to cross above it. The CCI has cross below the -100 line and trying to cross above it. So the daily chart is now retracing back.

But the bollinger bands are clearly downwards. So I am thinking that the trend may retrace until the support line and then the support line may act as the resistance then.

Even if the support line does not act as the resistance line, at some point in the retracement a doji with a small body and a long tail or a bearish engulfing candlesticks may form. This may happen at the red dot shown in the picture.

If the above two does not occur, the graph may go up where the CCI and Stochastics may reach the overbought region and then the graph will follow coming down again following the trend. So I think the following are the opportunities for this currency pairs to enter a short trade.

1) If the graph reaches the trend line and reverses it is an opportunity to enter the short trade.

2) If a strong doji or a strong bearish engulfing candlesticks are formed somewhere in the retracement it’s a good opportunity to enter a short trade.

3) If a the stochastics and CCI reach the overbought region and try to cross down the overbought region it’s a good opportunity to enter a short trade.

What do you guys say about this?

audusd possible trade opportunity in a few days

The following is the AUDCHF daily chart as of DEC. 23, 2009. If you observe the graph you can see that

1) The chart has reached the bottom moving average of the bollinger bands.

2) There is a resistance line at this bottom moving of of the bollinger bands.

3) CCI has reached the oversold region by crossing below the -100 line.

4) Stochastics oscillator has reached the oversold region by crossing below the -100 line.

5) It looks like a bullish engulfing candlesticks are forming.

So by tomorrow if a bullish engulfing cadlesticks are formed, I think its a good opportunity to enter a long trade for this currency pair. what do you guys say?

audchf possible long trade opportunity

EURUSD and USDCHF bollinger bands came very close. So I am expecting a break out may occur. Check the following pictures. The following are EURUSD and USDCHF hourly graphs. The bollinger bands are converged. So I am expecting a breakout soon.

Click on the pictures to maximize them.

EURUSD hourly chart:

eurusd bollinger bands

USDCHF hourly chart:

usdchf bollinger bands

The following is the 4 hr graph for AUDCHF. If you observe the graph there was a support line which was broken earlier. Now the chart has retraced back to the earlier support line. This may now act as the resistance line. In addition the following are also favorable conditions for a short trade.

1) CCI has reached above 100 which is an overbought region.

2) Stochastics has reached above 80 which is over bought region.

Now if strong bearish candlestick is formed in the four hour chart and if the CCI and Stochastics cross below the overbought regions I think its a good opportunity for a short trade. What do you guys say?

Click on the picture to maximize it

AUDCHF four hour graph:

AUDCHF reached the resistance line and moreover both CCI and stochastics reached the overbought regions

The following is the GBPCAD 4 hr chart. If you check the graph you can see a support line (trend line). The support line is broken in the four hour graph and it retraced back to to the support line and it looks like now the support is acting as a resistance and exactly at the resistance lie a bearish candlestick formation is happened. I think it’s a good opprotunity for this currency pair to enter a short trade. What do you guys say?

The following are the pictures of GBPCAD 4 hr charts. The first one is zoomed out to show the whole picture. The second one is a little zoomed in to show some what bigger picture.

Click on the pictures to make them bigger.

GBPCAD four hour zoomed out picture:

GBPCAD four hour chart zoomed out

GBPCAD four hour chart bigger picture:

GBPCAD fourhour chart bigger picture

Also observe the daily chart. In the daily chart also there is support line which was broken.

GBPCAD Daily Chart:

GBPCAD daily chart