EUR/USD (Swing Forecast)
Potential Strategy
Wait until a new pattern emerges.
| What is the trend? | Neutral |
| What is this pattern? | No pattern present - See all chart patterns |
| Why is this significant? | There is no high probability pattern so we cannot place a trade. |
| What other indicators or Fib Levels support this thesis? | No trade |
Reason for Strategy
We have drawn a bearish channel on the EUR/USD 2hr Chart after the
sideways channel was broken. Of course, the pair quickly broke through
this channel as well. There is not a whole lot of symmetry with the
USD at this point. We will now simply watch for new patterns
to form.
Trade Invalidation
No trade
| Resistance 3 | 1.5062 | 100% of XA on the 4hr Chart |
| Resistance 2 | 1.4969 | 78.6% of XA on the 4hr Chart |
| Resistance 1 | 1.4895 | 61.8% of XA on the 4hr Chart |
| Current Price | 1.4842 | |
| Support 1 | 1.4800 | 38.2% of AB on the 4hr Chart |
| Support 2 | 1.4767 | 50% of AB on the 4hr Chart |
| Support 3 | 1.4734 | 61.8% of AB on the 4hr Chart |
- 4hr Chart - Where will we see new resistance?
- 2hr Chart - Broken bearish channel.
DISCLAIMER: The information provided below should not be relied upon as a substitute for extensive independent research before making your investment decisions. FX360 .com is merely providing these views for your general information. The information presented in the views below does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision and should tailor the trade size and leverage of their trading to their personal risk appetite. In addition, any projections or views of the market provided by the authors may not prove to be accurate.
FX360.com and the currency research team will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained on FX360.com
NOTE: All trade ideas on FX360.com are hypothetical. FX360.com has not placed these ideas in a live trading environment. Forex Trading involves high risks, with the potential for substantial losses that exceed your initial deposit and is not suitable for all persons. Past performance is not necessarily indicative of future results.
GBP/USD (Swing Forecast)
Potential Strategy
Wait until a new pattern emerges.
| What is the trend? | Neutral |
| What is this pattern? | No pattern present - See all chart patterns |
| Why is this significant? | There is no high probability pattern so we cannot place a trade. |
| What other indicators or Fib Levels support this thesis? | No trade |
Reason for Strategy
We have drawn a bearish channel on the GBP/USD 1hr Chart. However, the
pair has quickly risen above the channel. We will continue to watch
for new patterns within the context of
the Fibonacci levels on the 8hr Chart.
Trade Invalidation
No trade
| Resistance 3 | 1.7021 | 127.2% of XA on the 8hr Chart |
| Resistance 2 | 1.6740 | 100% of XA on the 8hr Chart |
| Resistance 1 | 1.6519 | 78.6% of XA on the 8hr Chart |
| Current Price | 1.6614 | |
| Support 1 | 1.6315 | 38.2% of AB on the 8hr Chart |
| Support 2 | 1.6199 | 50% of AB on the 8hr Chart |
| Support 3 | 1.6083 | 61.8% of AB on the 8hr Chart |
- 8hr Chart - Will we see major resistance now?
- 1hr Chart - Broken bearish channel.
DISCLAIMER: The information provided below should not be relied upon as a substitute for extensive independent research before making your investment decisions. FX360 .com is merely providing these views for your general information. The information presented in the views below does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision and should tailor the trade size and leverage of their trading to their personal risk appetite. In addition, any projections or views of the market provided by the authors may not prove to be accurate.
FX360.com and the currency research team will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained on FX360.com
NOTE: All trade ideas on FX360.com are hypothetical. FX360.com has not placed these ideas in a live trading environment. Forex Trading involves high risks, with the potential for substantial losses that exceed your initial deposit and is not suitable for all persons. Past performance is not necessarily indicative of future results.
USD/JPY (Swing Forecast)
Potential Strategy
Sell USD/JPY at 91.73. Stop at 92.21. Profit targets at 91.01, 90.49.
| What is the trend? | Down |
| What is this pattern? | Bearish Gartley - See all chart patterns |
| Why is this significant? | Converging Fibonacci levels provide strong resistance @ point D. |
| What other indicators or Fib Levels support this thesis? | If RSI rises above 70. |
Reason for Strategy
We have redrawn this pattern because the USD/JPY dropped below the original point C. I actually prefer the way the pattern is shaping up now. Of course the pair could drop farther and the trade could be called off, but it looks good for now.
Trade Invalidation
A move below 89.55 before reaching point D would cancel the trade. Additionally, a move above 92.21 would stop the trade out. Long bars in the CD leg near the entry would also invalidate this trade. Also, if the pattern comes within 10 pips of hitting the entry, does not enter, and reaches T1, the trade is also invalidated.
| Resistance 3 | 105.63 | 50% of XA on the Weekly Chart |
| Resistance 2 | 101.26 | 38.2% of XA on the Weekly Chart |
| Resistance 1 | 91.73 | Bearish Gartley |
| Current Price | 89.86 | |
| Support 1 | 90.18 | 78.6% of AB on the Weekly Chart |
| Support 2 | 87.12 | 100% of AB on the Weekly Chart |
| Support 3 | 83.22 | 127.2% of AB on the Weekly Chart |
- Weekly Chart - Bearish channel.
- 2hr Chart - Bearish Gartley; sell at 91.73.
DISCLAIMER: The information provided below should not be relied upon as a substitute for extensive independent research before making your investment decisions. FX360 .com is merely providing these views for your general information. The information presented in the views below does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision and should tailor the trade size and leverage of their trading to their personal risk appetite. In addition, any projections or views of the market provided by the authors may not prove to be accurate.
FX360.com and the currency research team will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained on FX360.com
NOTE: All trade ideas on FX360.com are hypothetical. FX360.com has not placed these ideas in a live trading environment. Forex Trading involves high risks, with the potential for substantial losses that exceed your initial deposit and is not suitable for all persons. Past performance is not necessarily indicative of future results.
USD/CHF (Swing Forecast)
Potential Strategy
Wait until a new pattern emerges.
| What is the trend? | Neutral |
| What is this pattern? | No pattern present - See all chart patterns |
| Why is this significant? | There is no high probability pattern so we cannot place a trade. |
| What other indicators or Fib Levels support this thesis? | No trade |
Reason for Strategy
We have drawn a bullish channel on the USD/CHF 2hr Chart after the
sideways channel was broken. Like most other USD based pairs, the
channel broke, and we don't have much to look at. I think
we could be a pivotal moment in this pair because we also are hovering near the long term 78.6% Fibonacci retracement of XA.
Trade Invalidation
No trade
| Resistance 3 | 1.1463 | 61.8% of AB on the Weekly Chart |
| Resistance 2 | 1.1164 | 50% of AB on the Weekly Chart |
| Resistance 1 | 1.0897 | 38.2% of AB on the Weekly Chart |
| Current Price | 1.0170 | |
| Support 1 | 1.0184 | 78.6% of XA on the Weekly Chart |
| Support 2 | 0.9609 | 100% of XA on the Weekly Chart |
| Support 3 | 0.8878 | 127.2% of XA on the Weekly Chart |
- Weekly Chart - Will support at 1.0184 finally hold or finally break?
- 2hr Chart - Broken bullish channel.
DISCLAIMER: The information provided below should not be relied upon as a substitute for extensive independent research before making your investment decisions. FX360 .com is merely providing these views for your general information. The information presented in the views below does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision and should tailor the trade size and leverage of their trading to their personal risk appetite. In addition, any projections or views of the market provided by the authors may not prove to be accurate.
FX360.com and the currency research team will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained on FX360.com
NOTE: All trade ideas on FX360.com are hypothetical. FX360.com has not placed these ideas in a live trading environment. Forex Trading involves high risks, with the potential for substantial losses that exceed your initial deposit and is not suitable for all persons. Past performance is not necessarily indicative of future results.
USD/CAD (Swing Forecast)
Potential Strategy
Sell USD/CAD at 1.0819. Stop at 1.0854. Profit targets at 1.0767, 1.0726.
| What is the trend? | Down |
| What is this pattern? | Bearish Gartley - See all chart patterns |
| Why is this significant? | Converging Fibonacci levels provide strong resistance @ point D. |
| What other indicators or Fib Levels support this thesis? | If RSI rises above 70. |
Reason for Strategy
A bearish Gartley pattern is forming on the USD/CAD 1hr Chart. This pattern is somewhat odd because the BC leg is so short in terms of time. However, the pattern is still valid. The main concern with this setup is that the CD leg is moving so quickly. We will definitely want to see a shallower slope up if we are to take this trade next week. The trade would also enter near the bearish trend line seen on the Daily Chart.
Trade Invalidation
A move below 1.0685 before reaching point D would cancel the trade. Additionally, a move above 1.0854 would stop the trade out. Long bars in the CD leg near the entry would also invalidate this trade. Also, if the pattern comes within 10 pips of hitting the entry, does not enter, and reaches T1, the trade is also invalidated.
| Resistance 3 | 1.0964 | 50% of XC on the Daily Chart |
| Resistance 2 | 1.0819 | Bearish Gartley |
| Resistance 1 | 1.0785 | 38.2% of XC on the Daily Chart |
| Current Price | 1.0751 | |
| Support 1 | 1.0629 | 100% of AB on the Daily Chart |
| Support 2 | 1.0495 | 127.2% of AB on the Daily Chart |
| Support 3 | 1.0324 | 161.8% of AB on the Daily Chart |
- Daily Chart - Trade would enter near bearish trend line.
- 1hr Chart - Bearish Gartley; sell at 1.0819.
DISCLAIMER: The information provided below should not be relied upon as a substitute for extensive independent research before making your investment decisions. FX360 .com is merely providing these views for your general information. The information presented in the views below does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision and should tailor the trade size and leverage of their trading to their personal risk appetite. In addition, any projections or views of the market provided by the authors may not prove to be accurate.
FX360.com and the currency research team will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained on FX360.com
NOTE: All trade ideas on FX360.com are hypothetical. FX360.com has not placed these ideas in a live trading environment. Forex Trading involves high risks, with the potential for substantial losses that exceed your initial deposit and is not suitable for all persons. Past performance is not necessarily indicative of future results.
AUD/USD (Swing Forecast)
Potential Strategy
Wait until a new pattern emerges.
| What is the trend? | Neutral |
| What is this pattern? | No pattern present - See all chart patterns |
| Why is this significant? | There is no high probability pattern so we cannot place a trade. |
| What other indicators or Fib Levels support this thesis? | No trade |
Reason for Strategy
The AUD/USD trade setups from earlier this week have both been invalidated.
Therefore we have drawn a bearish channel. This new channel was fairly
weak at this point, and it ended up breaking. We will simply watch for the next pattern/channel to form.
Trade Invalidation
No trade
| Resistance 3 | N/A | N/A |
| Resistance 2 | Top of channel | See Weekly Chart |
| Resistance 1 | 0.9327 | Significant high |
| Current Price | 0.9188 | |
| Support 1 | Top of channel | See 2hr Chart |
| Support 2 | Bottom of channel | See Weekly Chart |
| Support 3 | Bottom of channel | See 2hr Chart |
- Weekly Chart - Bullish channel.
- 2hr Chart - Broken bearish channel.
DISCLAIMER: The information provided below should not be relied upon as a substitute for extensive independent research before making your investment decisions. FX360 .com is merely providing these views for your general information. The information presented in the views below does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision and should tailor the trade size and leverage of their trading to their personal risk appetite. In addition, any projections or views of the market provided by the authors may not prove to be accurate.
FX360.com and the currency research team will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained on FX360.com
NOTE: All trade ideas on FX360.com are hypothetical. FX360.com has not placed these ideas in a live trading environment. Forex Trading involves high risks, with the potential for substantial losses that exceed your initial deposit and is not suitable for all persons. Past performance is not necessarily indicative of future results.
NZD/USD (Swing Forecast)
Potential Strategy
Wait until a new pattern emerges.
| What is the trend? | Neutral |
| What is this pattern? | No pattern present - See all chart patterns |
| Why is this significant? | There is no high probability pattern so we cannot place a trade. |
| What other indicators or Fib Levels support this thesis? | No trade |
Reason for Strategy
The NZD/USD has risen above our trade setup from earlier this week, so we have
taken that pattern away. We now have a possible bullish channel
forming. An ABCD pattern could have completed
at the bottom of the potential bearish channel, but that now is impossible because the pair has not moved down.
Trade Invalidation
No trade
| Resistance 3 | Top of channel | See Daily Chart |
| Resistance 2 | Bottom of channel | See Daily Chart |
| Resistance 1 | Top of channel | See 1hr Chart |
| Current Price | 0.7249 | |
| Support 1 | Bottom of channel | See 1hr Chart |
| Support 2 | 0.7016 | 127.2% of BC on Daily Chart |
| Support 3 | N/A | N/A |
- Daily Chart - Broken bullish channel.
- 1hr Chart - Bearish channel and ABCD.
DISCLAIMER: The information provided below should not be relied upon as a substitute for extensive independent research before making your investment decisions. FX360 .com is merely providing these views for your general information. The information presented in the views below does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision and should tailor the trade size and leverage of their trading to their personal risk appetite. In addition, any projections or views of the market provided by the authors may not prove to be accurate.
FX360.com and the currency research team will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained on FX360.com
NOTE: All trade ideas on FX360.com are hypothetical. FX360.com has not placed these ideas in a live trading environment. Forex Trading involves high risks, with the potential for substantial losses that exceed your initial deposit and is not suitable for all persons. Past performance is not necessarily indicative of future results.