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
| Resistance 3 | 1.5331 | 161.8% of XA on the 4hr Chart |
| Resistance 2 | 1.5181 | 127.2% of XA on the 4hr Chart |
| Resistance 1 | 1.5062 | 100% of XA on the 4hr Chart |
| Current Price | 1.4989 | |
| Support 1 | 1.4869 | 38.2% of AB on the 4hr Chart |
| Support 2 | 1.4823 | 50% of AB on the 4hr Chart |
| Support 3 | 1.4775 | 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
Sell GBP/USD at 1.6768. Stop at 1.6788. Profit targets at 1.6738, 1.6713.
| What is the trend? | Down |
| What is this pattern? | Bearish Butterfly - 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 short term GBP/USD bearish butterfly is forming on the 5min Chart. Normally I don't post trades this short term, but the magnitude of the pattern is large enough (AB is nearly 100 pips). The trade would also enter just above the significant high at 1.6740 on the 8hr Chart. However, there is a major news announcement at 3:30 am Central Time. So if the pattern doesn't complete by midnight Central Time, then we would call off the trade to avoid being in it for the news announcement. I would also likely close the trade if it entered and somehow had not exited by 3:25 am Central Time.
Trade Invalidation
A move below 1.6687 before reaching point D would cancel the trade. Additionally, a move above 1.6788 would stop the trade out. Long bars in the CD leg near the entry would also invalidate this trade. If the trade hasn't entered my midnight (central time), don't enter. See the above paragraph for more timing information. Also, if the pattern comes within 8 pips of hitting the entry, does not enter, and reaches T1, the trade is also invalidated.
| Resistance 3 | 1.7021 | 127.2% of XA on the 8hr Chart |
| Resistance 2 | 1.6768 | Bearish butterfly |
| Resistance 1 | 1.6740 | Significant high |
| Current Price | 1.6738 | |
| Support 1 | 1.6408 | 38.2% of AB on the 8hr Chart |
| Support 2 | 1.6274 | 50% of AB on the 8hr Chart |
| Support 3 | 1.6140 | 61.8% of AB on the 8hr Chart |
- 8hr Chart - Trade would enter just above significant high at 1.6740.
- 5min Chart - Bearish butterfly; sell at 1.6768.
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 | 89.80 | |
| 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 | 1.0075 | |
| 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
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. The AB=CD
level that was forming at the bottom of the channel is no longer of interest because we breached the channel before reaching AB=CD in terms of time.
Trade Invalidation
No trade
| Resistance 3 | 1.1143 | 61.8% of XC on the Daily Chart |
| Resistance 2 | 1.0964 | 50% of XC on the Daily Chart |
| Resistance 1 | 1.0785 | 38.2% of XC on the Daily Chart |
| Current Price | 1.0493 | |
| Support 1 | 1.0495 | 127.2% of AB on the Daily Chart |
| Support 2 | 1.0324 | 161.8% of AB on the Daily Chart |
| Support 3 | 1.0205 | Significant low |
- Daily Chart - Will support at 1.0495 hold?
- 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.
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
| Resistance 3 | N/A | N/A |
| Resistance 2 | Top of channel | See Weekly Chart |
| Resistance 1 | 0.9327 | Significant high |
| Current Price | 0.9301 | |
| 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 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
| 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 | 0.7430 | |
| Support 1 | Bottom of channel | See 1hr Chart |
| Support 2 | N/A | N/A |
| Support 3 | N/A | N/A |
- Daily Chart - Broken bullish channel with possible resistance at the bottom trend line.
- 1hr Chart - 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.