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 89.88. Stop at 90.07. Profit targets at 89.60, 89.38.
USD/CHF (Medium Term)
Sell USD/CHF at 1.0238. Stop at 1.0283. Profit targets at 1.0171, 1.0119.
USD/CAD (Medium Term)
Sell USD/CAD at 1.0702. Stop at 1.0758. Profit targets at 1.0618, 1.0555.
AUD/USD (Medium Term)
Sell AUD/USD at 0.9369. Stop at 0.9391. Profit targets at 0.9336, 0.9310.
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
A move up has invalidated our trade yesterday, but there are still some interesting developments in this pair.  We have drawn an ABCD pattern on the 4hr Chart that could converge with the bottom of the newly drawn bearish channel.  The ABCD would also complete near the bottom of the bullish channel on the Daily Chart.  We have not set up a trade yet, but we could see some support near the circles areas on each chart.
Trade Invalidation
No trade
Support & Resistance Levels
Resistance 3N/AN/A
Resistance 2Top of channelSee Daily Chart
Resistance 1Top of channelSee 4hr Chart
Current Price1.4960
Support 11.488638.2% of XA on the 4hr Chart
Support 21.483650% of XA on the 4hr Chart
Support 31.478761.8% of XA on the 4hr Chart
  • Daily Chart - Bullish channel.
  • 4hr Chart - 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
The Gartley pattern we posted last Friday has been invalidated because the pair rose above point A.  Therefore, we have drawn a new bullish channel.  The channel is clean so far, but there have not been many points of contact.  Still, we will watch for new patterns to form within the the bullish channel.
Trade Invalidation
No trade
Support & Resistance Levels
Resistance 31.7021127.2% of XA on the 8hr Chart
Resistance 21.6740100% of XA on the 8hr Chart
Resistance 1Top of channelSee 4hr Chart
Current Price1.6741
Support 1Bottom of channelSee 4hr Chart
Support 21.643038.2% of AB on the 8hr Chart
Support 31.629250% of AB on the 8hr Chart
  • 8hr Chart - New high, when will we see resistance?
  • 4hr 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.

USD/JPY (Swing Forecast)
Potential Strategy
Sell USD/JPY at 89.88. Stop at 90.07. Profit targets at 89.60, 89.38.
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?Top of bearish channel on the 4hr Chart.
Reason for Strategy
A bearish Gartley pattern is forming on the USD/JPY 1hr Chart.  The trade is forming nicely so far, and it would also enter near the top of the channel on the 4hr Chart.  This is a textbook example of a Gartley.
Trade Invalidation
A move below 88.95 before reaching point D would cancel the trade. Additionally, a move above 90.07 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 3N/AN/A
Resistance 2Top of channelSee 4hr Chart
Resistance 189.88Bearish Gartley
Current Price89.31
Support 1Bottom of channelSee 4hr Chart
Support 2N/AN/A
Support 3N/AN/A
  • 4hr Chart - Trade would enter near the top of the bearish channel.
  • 1hr Chart - Bearish Gartley; sell at 89.88.

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
Sell USD/CHF at 1.0238. Stop at 1.0283. Profit targets at 1.0171, 1.0119.
What is the trend?Down
What is this pattern?Bearish 3-Drive - See all chart patterns
Why is this significant?Converging Fibonacci levels provide strong resistance @ point 3.
What other indicators or Fib Levels support this thesis?Bearish trend line on the Weekly Chart.
Reason for Strategy
A bearish 3 drives patterns is forming on the 2hr Chart.  As long time readers will see, this is basically a bearish butterfly with one extra component.  This allows us to measure our profit targets a little differently, and gives us some more time for the pattern to work without hurting our risk:reward ratio.  The pattern also would enter near a bearish trend line on the Weekly Chart.
Trade Invalidation
A move below 1.0070 before reaching point D would cancel the trade. Additionally, a move above 1.0283 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 31.116450% of XA on the Weekly Chart
Resistance 21.089738.2% of XA on the Weekly Chart
Resistance 11.0238Bearish 3 drives patterns
Current Price1.0096
Support 10.9609100% of XA on the Weekly Chart
Support 20.8878127.2% of XA on the Weekly Chart
Support 3N/AN/A
  • Weekly Chart - Trade would enter near bearish trend line.
  • 2hr Chart - Bearish 3 drives pattern; sell at 1.0238.

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 1.0702. Stop at 1.0758. Profit targets at 1.0618, 1.0555.
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?Bearish trend line on the Daily Chart.
Reason for Strategy
A bearish Gartley pattern is forming on the USD/CAD 4hr Chart.  This pattern is slightly different then yesterday because point C is lower and we have made CD 127.2% of AB.  There are two candidates for point X, which both provide resistance near the same point.  The trade would also enter near the bearish trend line on the Daily Chart.
Trade Invalidation
A move below 1.0445 before reaching point D would cancel the trade. Additionally, a move above 1.0758 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 31.096450% of XC on the Daily Chart
Resistance 21.078538.2% of XC on the Daily Chart
Resistance 11.0702Bearish Gartley
Current Price1.0547
Support 11.0495127.2% of AB on the Daily Chart
Support 21.0324161.8% of AB on the Daily Chart
Support 31.0205Significant low
  • Daily Chart - Trade would enter near the bearish trend line.
  • 4hr Chart - Bearish Gartley; sell at 1.0702.

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
Sell AUD/USD at 0.9369. Stop at 0.9391. Profit targets at 0.9336, 0.9310.
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?None
Reason for Strategy
A bearish Gartley pattern is forming on the AUD/USD 30min Chart.  Although there are not any "extras", this is a very nice pattern that we will still track.
Trade Invalidation
A move below 0.9260 before reaching point D would cancel the trade. Additionally, a move above 0.9391 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 3Top of channelSee Weekly Chart
Resistance 20.9327Signifcant high
Resistance 10.9369Bearish Gartley
Current Price0.9297
Support 1Bottom of channelSee Weekly Chart
Support 20.819938.2% of AB on the Weekly Chart
Support 30.782750% of AB on the Weekly Chart
  • Weekly Chart - Bullish channel.
  • 30min Chart - Bearish Gartley; sell at 0.9369.

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 been tough to deal with since the large gap from last weekend's open.  There is not a whole lot of symmetry here and this is a fairly weak bullish channel.  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 2hr Chart
Current Price0.7459
Support 1Bottom of channelSee 2hr Chart
Support 2N/AN/A
Support 3N/AN/A
  • Daily Chart - Broken bullish channel with possible resistance at the bottom trend line.
  • 2hr 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.

CD01BK.036.103009


The information, including Commentary and Trade Ideas, provided on FX360.com should not be relied upon as a substitute for extensive independent research which should be performed before making your investment decisions. Global Forex Trading and FX360 .com is merely providing this information for your general information. The information and opinions presented do 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. Any projections or views of the market provided by FX360.com may not prove to be accurate.

The views of the authors and analysts are not necessarily those of Global Forex Trading, its owners, officers, agents or other employees. 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. 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.

TRADE IDEAS

  • Trades to Watch
  • Trades in Progress
currency trade idea
GBP/USD
Medium term



Sell Sell at 1.5904
Stop at 1.5924
Target at 1.5874
currency trade idea
CAD/JPY
Long term
Opened 2/10/2012
Buy Long from 77.6500
Stop at 76.65
Target at 78.9
GBP/CHF
Medium term
Opened 2/8/2012
Sell Short from 1.4470
Stop at 1.4602
Target at 1.4352
AUD/CAD
Medium term
Opened 2/6/2012
Buy Long from 1.0740
Stop at 1.0655
Target at 1.085
These are hypothetical trades and should not be relied upon as a substitute for independent research.

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