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MARKET UPDATE FOR R11 CORRECTION

We are sorry for the chart mixed up.The EUR/USD CHART was replaced with GBP/USD,please note and make necessary adjustment.We are sorry for any incoveniences.

MARKET UPDATE FOR JAN 11

EUR/USD fired up a salvo today by blazing through the near term Horizontal Resistances.We are still looking for a bearish setup withing the price frame.A close above the key Resistance zone around 1.3307 will signaled bullish momentum resumption but we are still slightly bearish bias given the price action setup that start the recent bearish momentum.

GBP/USD retraced aggressively today closing below the near term resistance zone around 1.6173.We are keen to seeing a bearish setup within 1.6227- 1.6173.in the near term.Friday closing picture will go a long way to support our bearish bias.

AUD/USD pushed higher today as expected by the pin bar formed  last Friday.We are anticipating an aggressive move towards the resistance zone 1.06227 that may lead  to formation of a false break.

EUR/AUD is range bound in a short term.We are ready to look for price action setup within the extreme zone of each horizontal levels to trade any given momentum in the near term before any breakout will occur 

MAKET UPDATE FOR JAN 9

EUR/USD  retraced after falsely break the resistance level around 1.3124 thereby closed below the level.Given the condition of the market this is not an obvious bearish setup that matches our trading plan,we will love to see an obvious bearish setup within  1.3177-   1.3124 zone.So we keep our cool why hurry up and wait for an obvious bearish setup.

GBP/USD  tried to move up but meet bearish pressure at near term resistance of 1.6128, thereby falls lower.There is no obvious bearish setup for us to consider yet, but we can look out for a bullish setup to trade in the intra day chart for a short time. 

USD/JPY break out from the inside   bar formed yesterday thereby given us a clue of a short term bearish momentum.Given the strength of this trend our bullish bias is still intact for now, but we are anticipating a short  term bearish retrace to the key level where will can watch out for a bullish setup to rejoin the trend.

EUR/USD retraced today as expected given the pin bar bar formed on Friday last week.We will love to see a bearish setup within 1.3177-1.3124 zone 

GBP/USD also  retraced today as expected given the pin bar bar formed on Friday last week.We will love to see a bearish within 1.6237-1.6173 zone

MARKET UPDATE FOR JAN 4

.EUR/USD drop it like it hot today, breaking out of the range formation that was obvious at the 4hrs time frame as discussed yesterday.The large pin formed cum fakey setup has kicked start this volatility.Its noteworthy to mention that any time a price action setup like this start a momentum,there is higher probability of continuity.We are looking for a retrace around 1.3124 zone  to join the bearish momentum.

GBP/USD blazed past the support zone around 1.6177 zone, after a strong bearish pressure.We are unable to get 50% retrace of the pin, but after the break of the low of the pin we expect the price to drop.Given the nature of the false break setup we expect lower price in due course.We keep our eyes open for intra day retrace around  1.6177 resistance  zone.

EUR/AUD continue its bearish momentum after breaking pass the horizontal support zone   1.2543.
We are looking for an intra day bearish setup around this zone to continue with the bearish momentum.

MARKET UPDATE FOR 3 JAN 2013

EUR/USD formed a large pin bar/Fakey today.The formation of this large pin bar was still below support zone.The 4hr fame showed a range formation .We will wait  patiently for obvious price action setup to light our way.

GBP/USD  formed a pin bar that is also a false break of an important levels.Because of the size of this pin. We are expecting a retracement in due time.our bearish bias still intact, so we are anticipating a bearish setup.

EUR/AUD broke the inside bar formed last year leading to a lower price that closed just above the support zone.Given the closing above this key support zone , we are expecting a retracement in the meam time to join the falling market,