BombayBulls

BombayBulls

When fundamentals, sentiment and technicals, all pointing to the same direction, it becomes easy to trade. No surprise in guessing the pair as it's quickly approaching to the parity ( and may be beyond ). EUR/USD can have bouts of enthusiasm as we got yesterday but eventually they are opportunity to short again. Today also we would be looking to get lucky again...

BombayBulls

Australian dollar's lack of ability to sustain any bounce above 0.7800 suggests that lower readings are coming sooner. But we have to be cautious not to get caught up in sideways trading range where aud/usd has stuck most of the February. So the strategy is to build the shorts with bounce towards 0.7800.

BombayBulls

Friday's price action was another reminder that one should not trade during sensitive data release if not prepared with trade plan and ready for insane volatility. Until the first Fed rate hike becomes reality, periods of consolidation followed by sharp drops will be the norm for gold and silver. Now 1180 has become first line of resistance for gold price...

BombayBulls

Previously established range of 1200 / 1220 has worked out pretty well for last few sessions. Seems like now it's time to refine the parameters. 1220 for short still remains intact but have to lower the entry near 1190.

BombayBulls

If you haven't sorted GBP/USD from 1.5420/1.5440 ( or even today from 1.5490 ) then you have missed the train already. Whether it's in retracement mode or going to have deeper leg lower, we don't know yet. But what we can say with probability in our favour is that it's going to provide us trading opportunity from the support level near 1.5300 and jobbing that...

BombayBulls

New Range for Silver is 16.40 to 16.90. Playing along the edges will give the most value for day trading. i.e. buying near 16.40 and selling at 16.90 until either 17 or 16.20 gives way.

BombayBulls

Yesterday's Yellen testimony did weaken the dollar and pushed gold from 1190 to 1210. Little short of our aforementioned level of 1220 for short. So for today we will look to get long around 1206 level for the possible retouch of 1220. Then again we will switch for short term short.

BombayBulls

Today's most important event for Gold trading is Fed chair Yellen's testimony at 10:00 AM EST. Yellen's dovish stance will send gold soaring and more hawkish comments will make it tumble towards 1100. If you have missed the short 1220 from our previous trade idea then today it might present another opportunity. If you don't have position then there isn't any point...

BombayBulls

How long NZDUSD can keep defying gravity is anybody's guess but there is value in shorting NZDUSD near 0.7600. As usual with current market conditions, needs to be quick to book partial profit as soon as position turns in favor and bring the stops at appropriate level. Picking few pips here and there is the way to go until long term trend emerges.

BombayBulls

Silver is following Gold to the downside. We believe that $15 is not too far for Silver but have to be cautious in shorting it. Ideal entry level is around 16.70.

BombayBulls

Gold has broken previous support of 1220 and now we are looking for shorting it again near this resistance. Today's FOMC meeting minute release might be the perfect backdrop for getting few bucks from Gold trade. We are of the opinion that Gold is likely to see 1100 but of course it might not happen in a day. So we will keep on looking for opportunities to...

BombayBulls

Positive rate hike feeling for the pound is keep on pushing. We will be looking to get long GBPUSD near 1.5380 - 1.5360. Tomorrow's CPI and Wednesday's MPC vote data will move the pound. UPDATE: CPI data has brought positive volatility and we would like to take partial profit here at 1.5395 and bring the stop to entry for rest of the position.

BombayBulls

We advocated longs near the base in previous trade idea ( ). If price reaches to 1240 then it's worth shorting for a quick trade with tight stop loss.

BombayBulls

Today's BOE inflation report at 5:30 EST might break the existing trading range for the pound. Initially we will be looking to play the touch of the range on either side of support and resistance. i.e. Short from 1.5360 / 1.5400 and long from 1.5050 / 1.5000. UPDATE: Playing the upper range has worked out nicely yielding handful pips. Now it seems like GBPUSD...

BombayBulls

NZD/JPY is approaching 89. Short here at 89/89.20 is of course worth few pips :) UPDATE: Closed position at 88.50 after +140 pips

BombayBulls

Gold is in the middle of the significant support and resistance. We would like to do a quick trade if price reaches on either side. Short near 1255/60 and long near 1218/20 for a quick few bucks. Update: (11 AM IST ) The trade has worked exactly as expected giving us quick few bucks.

BombayBulls

We will be looking to get long near 1.2512 today for a short term trade. We expect to get at least few pip bounce from this level. UPDATE: Taking profit on this 10 pip bounce with half position and bringing stop to entry point for the rest.

BombayBulls

We will be looking to get long near 1.2512 today for a short term trade. We expect to get at least few pip bounce from this level. UPDATE: Taking profit on this 10 pip bounce for half position and bringing stop to the entry point for the rest