CURRENCYCURRENT BIASPOTENTIAL STRATEGY
EUR/USD (Medium Term)
Wait until a new pattern emerges.
GBP/USD (Medium Term)
Wait until a new pattern emerges.
USD/JPY (Medium Term)
Sell USD/JPY at 91.73. Stop at 92.21. Profit targets at 91.01, 90.49.
USD/CHF (Medium Term)
Wait until a new pattern emerges.
USD/CAD (Medium Term)
Wait until a new pattern emerges.
AUD/USD (Medium Term)
Wait until a new pattern emerges.
NZD/USD (Medium Term)
Wait until a new pattern emerges.
  • EUR/USD
  • GBP/USD
  • USD/JPY
  • USD/CHF
  • USD/CAD
  • AUD/USD
  • NZD/USD
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 and has continued to rise.  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
Support & Resistance Levels
Resistance 31.5331161.8% of XA on the 4hr Chart
Resistance 21.5181127.2% of XA on the 4hr Chart
Resistance 11.5062100% of XA on the 4hr Chart
Current Price1.4995
Support 11.486938.2% of AB on the 4hr Chart
Support 21.482350% of AB on the 4hr Chart
Support 31.477561.8% of AB on the 4hr Chart
  • 4hr Chart - Where will we see new resistance?
  • 2hr Chart - Broken bearish channel.
DISCLAIMER: This forum and the information provided here should not be relied on as a substitute for extensive independent research before making your investment decisions. Global Forex Trading is merely providing this column for your general information. The views of the authors are not necessarily those of Global Forex Trading, its owners, officers, agents or other employees. In addition, any projections or views of the market provided by the authors may not prove to be accurate. Global Forex Trading 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 in this column. Global Forex Trading and the currency research team do not render investment, legal, accounting, tax, or other professional advice. If investment, legal, tax, or other expert assistance is required, the services of a competent professional should be sought.

This website is not intended for residents of the United Kingdom.

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
Support & Resistance Levels
Resistance 31.7379161.8% of XA on the 8hr Chart
Resistance 21.7021127.2% of XA on the 8hr Chart
Resistance 11.6740100% of XA on the 8hr Chart
Current Price1.6756
Support 11.640838.2% of AB on the 8hr Chart
Support 21.627450% of AB on the 8hr Chart
Support 31.614061.8% of AB on the 8hr Chart
  • 8hr Chart - A new high has been made.
  • 1hr Chart - Broken bearish channel.
DISCLAIMER: This forum and the information provided here should not be relied on as a substitute for extensive independent research before making your investment decisions. Global Forex Trading is merely providing this column for your general information. The views of the authors are not necessarily those of Global Forex Trading, its owners, officers, agents or other employees. In addition, any projections or views of the market provided by the authors may not prove to be accurate. Global Forex Trading 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 in this column. Global Forex Trading and the currency research team do not render investment, legal, accounting, tax, or other professional advice. If investment, legal, tax, or other expert assistance is required, the services of a competent professional should be sought.

This website is not intended for residents of the United Kingdom.

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.
Support & Resistance Levels
Resistance 3105.6350% of XA on the Weekly Chart
Resistance 2101.2638.2% of XA on the Weekly Chart
Resistance 191.73Bearish Gartley
Current Price89.96
Support 190.1878.6% of AB on the Weekly Chart
Support 287.12100% of AB on the Weekly Chart
Support 383.22127.2% of AB on the Weekly Chart
  • Weekly Chart - Bearish channel.
  • 2hr Chart - Bearish Gartley; sell at 91.73.
DISCLAIMER: This forum and the information provided here should not be relied on as a substitute for extensive independent research before making your investment decisions. Global Forex Trading is merely providing this column for your general information. The views of the authors are not necessarily those of Global Forex Trading, its owners, officers, agents or other employees. In addition, any projections or views of the market provided by the authors may not prove to be accurate. Global Forex Trading 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 in this column. Global Forex Trading and the currency research team do not render investment, legal, accounting, tax, or other professional advice. If investment, legal, tax, or other expert assistance is required, the services of a competent professional should be sought.

This website is not intended for residents of the United Kingdom.

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
Support & Resistance Levels
Resistance 31.146361.8% of AB on the Weekly Chart
Resistance 21.116450% of AB on the Weekly Chart
Resistance 11.089738.2% of AB on the Weekly Chart
Current Price1.0078
Support 11.018478.6% of XA on the Weekly Chart
Support 20.9609100% of XA on the Weekly Chart
Support 30.8878127.2% of XA on the Weekly Chart
  • Weekly Chart - Will support at 1.0184 finally hold or finally break?
  • 2hr Chart - Broken bullish channel.
DISCLAIMER: This forum and the information provided here should not be relied on as a substitute for extensive independent research before making your investment decisions. Global Forex Trading is merely providing this column for your general information. The views of the authors are not necessarily those of Global Forex Trading, its owners, officers, agents or other employees. In addition, any projections or views of the market provided by the authors may not prove to be accurate. Global Forex Trading 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 in this column. Global Forex Trading and the currency research team do not render investment, legal, accounting, tax, or other professional advice. If investment, legal, tax, or other expert assistance is required, the services of a competent professional should be sought.

This website is not intended for residents of the United Kingdom.

USD/CAD (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 USD/CAD has dropped sharply after the weekend, which invalidated the possible trade we set up last week.  We have now drawn a bearish channel on the 2hr Chart.  It is possible we could buy at the AB=CD level if it lines up perfectly with the bottom of the channel, but we will not set that trade up yet.
Trade Invalidation
No trade
Support & Resistance Levels
Resistance 31.096450% of XC on the Daily Chart
Resistance 21.078538.2% of XC on the Daily Chart
Resistance 1Top of channelSee 2hr Chart
Current Price1.0559
Support 1Bottom of channelSee 2hr Chart
Support 21.0495127.2% of AB on the Daily Chart
Support 31.0324161.8% of AB on the Daily Chart
  • Daily Chart - Sharp drop may test support levels.
  • 2hr Chart - Bearish channel.
DISCLAIMER: This forum and the information provided here should not be relied on as a substitute for extensive independent research before making your investment decisions. Global Forex Trading is merely providing this column for your general information. The views of the authors are not necessarily those of Global Forex Trading, its owners, officers, agents or other employees. In addition, any projections or views of the market provided by the authors may not prove to be accurate. Global Forex Trading 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 in this column. Global Forex Trading and the currency research team do not render investment, legal, accounting, tax, or other professional advice. If investment, legal, tax, or other expert assistance is required, the services of a competent professional should be sought.

This website is not intended for residents of the United Kingdom.

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 last 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 and rallying.  We will simply watch for the next pattern/channel to form.
Trade Invalidation
No trade
Support & Resistance Levels
Resistance 3N/AN/A
Resistance 2Top of channelSee Weekly Chart
Resistance 10.9327Significant high
Current Price0.9295
Support 1Top of channelSee 2hr Chart
Support 2Bottom of channelSee Weekly Chart
Support 3Bottom of channelSee 2hr Chart
  • Weekly Chart - Bullish channel.
  • 2hr Chart - Broken bearish channel.
DISCLAIMER: This forum and the information provided here should not be relied on as a substitute for extensive independent research before making your investment decisions. Global Forex Trading is merely providing this column for your general information. The views of the authors are not necessarily those of Global Forex Trading, its owners, officers, agents or other employees. In addition, any projections or views of the market provided by the authors may not prove to be accurate. Global Forex Trading 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 in this column. Global Forex Trading and the currency research team do not render investment, legal, accounting, tax, or other professional advice. If investment, legal, tax, or other expert assistance is required, the services of a competent professional should be sought.

This website is not intended for residents of the United Kingdom.

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 last week, so we have taken that pattern away.  The pair shot up on the weekend open and we have drawn a bullish channel in that context.  We will likely stay away from this one for a while because of the extreme gap.
Trade Invalidation
No trade
Support & Resistance Levels
Resistance 3Top of channelSee Daily Chart
Resistance 2Bottom of channelSee Daily Chart
Resistance 1Top of channelSee 1hr Chart
Current Price0.7428
Support 1Bottom of channelSee 1hr Chart
Support 2N/AN/A
Support 3N/AN/A
  • Daily Chart - Broken bullish channel.
  • 1hr Chart - Bullish channel.
DISCLAIMER: This forum and the information provided here should not be relied on as a substitute for extensive independent research before making your investment decisions. Global Forex Trading is merely providing this column for your general information. The views of the authors are not necessarily those of Global Forex Trading, its owners, officers, agents or other employees. In addition, any projections or views of the market provided by the authors may not prove to be accurate. Global Forex Trading 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 in this column. Global Forex Trading and the currency research team do not render investment, legal, accounting, tax, or other professional advice. If investment, legal, tax, or other expert assistance is required, the services of a competent professional should be sought.

This website is not intended for residents of the United Kingdom.

CD01BK.036.103009

TRADE RECOMMENDATIONS

  • Trades to Watch
  • Trades in Progress
currency recommendation
USD/CAD
Medium term



Sell Sell at 1.0664
Stop at 1.0709
Target 1 at 1.0596
Target 2 at 1.0544
GBP/NZD
Medium term



Buy Buy at 2.1800
Stop at 2.1567
Target 1 at 2.215
Target 2 at 2.2429
NZD/JPY
Medium term



Sell Sell at 66.8000
Stop at 67.84
Target 1 at 65.22
Target 2 at 64.09
There are currently no trades in progress.

QUOTEBOARD

  • Key Quotes
  • Currencies
  • Markets
  •  
  • current
  • high
  • low
 
  • EUR/USD
  • up
  • 1.4329
  • 1.4440
  • 1.4306
EUR/USD
5 min chart
  • GBP/USD
  • up
  • 1.6165
  • 1.6235
  • 1.6048
GBP/USD
5 min chart
  • USD/JPY
  • down
  • 93.02
  • 93.14
  • 91.91
USD/JPY
5 min chart
  • OIL
  • up
  • 73.28
  • 73.28
  • 73.28
CLF0
5 min chart
  • GOLD
  • up
  • 1096.5
  • 1106.5
  • 1093.0
.GOLD
5 min chart
  • US Stocks
  • down
  • 10442
  • 10570
  • 10417
.US30
5 min chart
  • UK Stocks
  • up
  • 5401.8
  • 5433.0
  • 5390.8
.UK100
5 min chart
  • DEM Stocks
  • up
  • 5975.2
  • 6012.2
  • 5948.8
.DE30
5 min chart
  • JP Stocks
  • down
  • 10607
  • 10667
  • 10587
.JP225
5 min chart
  •  
  • current
  • high
  • low
 
  • EUR/USD
  • up
  • 1.4329
  • 1.4440
  • 1.4306
5 min chart
  • GBP/USD
  • up
  • 1.6165
  • 1.6235
  • 1.6048
  • USD/JPY
  • down
  • 93.02
  • 93.14
  • 91.91
  • USD/CHF
  • down
  • 1.0349
  • 1.0385
  • 1.0285
  • USD/CAD
  • up
  • 1.0527
  • 1.0548
  • 1.0454
  • AUD/USD
  • up
  • 0.8965
  • 0.9007
  • 0.8928
  • NZD/USD
  • down
  • 0.7230
  • 0.7289
  • 0.7210
  • USD/MXN
  • up
  • 13.0923
  • 13.1223
  • 13.0249
  • EUR/JPY
  • up
  • 133.30
  • 133.59
  • 132.55
  • GBP/JPY
  • down
  • 150.37
  • 150.67
  • 148.24
  •  
  • current
  • high
  • low
 
  • OIL
  • up
  • 73.28
  • 73.28
  • 73.28
5 min chart
  • GOLD
  • up
  • 1096.5
  • 1106.5
  • 1093.0
5 min chart
  • SILVER
  • up
  • 16.855
  • 17.06
  • 16.779
5 min chart
  • US500
  • up
  • 1117.1
  • 1128.9
  • 1113.9
5 min chart
  • UK Stocks
  • up
  • 5401.8
  • 5433.0
  • 5390.8
5 min chart
  • DEM Stocks
  • up
  • 5975.2
  • 6012.2
  • 5948.8
5 min chart
  • JP Stocks
  • down
  • 10607
  • 10667
  • 10587
5 min chart
  • AU Stocks
  • up
  • 4882.0
  • 4887.5
  • 4854.0
5 min chart
Data source: GFT

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