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CURRENCY	CURRENT BIAS	POTENTIAL 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)		Wait until a new pattern emerges.
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.

Bradley W. Gareiss

Technical Analyst, GFT

• 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 are close to testing the bottom of the bullish channel on the EUR/USD 2hr Chart.  There is no pattern, however, so we will stay on the sidelines for now.  ON a longer term basis, the pair has been moving sideways lately, as we can see on the 8hr Chart.  

Trade Invalidation

No trade

Support & Resistance Levels
Resistance 3	1.4680	50% of YZ on the 8hr Chart
Resistance 2	1.4570	38.2% of YZ on the 8hr Chart
Resistance 1	Top of channel	See 2hr Chart
Current Price	1.4318
Support 1	Bottom of channel	See 2hr Chart
Support 2	1.4216	Significant low
Support 3	N/A	N/A

• Source: DealBook®360
• Source: DealBook®360

• 8hr Chart - Will the downtrend continue?
• 2hr Chart - Bullish channel.

Get Your DealBook® Charting Package Free!

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.  We have just seen resistance at the top of the channel, and the pair has slowly dropped.  If the pair continues to drop, the channel will continue to get stronger.  We will watch for new patterns to form within the context of the channel.

Trade Invalidation

No trade

Support & Resistance Levels
Resistance 3	1.6374	50% of XA on the Daily Chart
Resistance 2	1.6216	38.2% of XA on the Daily Chart
Resistance 1	Top of channel	See 8hr Chart
Current Price	1.5932
Support 1	1.5957	78.6% of AB on the Daily Chart
Support 2	1.5706	100% of AB on the Daily Chart
Support 3	Bottom of channel	See 8hr Chart

• Source: DealBook®360
• Source: DealBook®360

• Daily Chart - Will support at 1.5957 (78.6% of AB) continue to hold?
• 8hr Chart - Bearish channel.

Get Your DealBook® Charting Package Free!

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

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/JPY 4hr Chart.  However, we have also no risen to the top of the bearish channel on the Weekly Chart.  This is a critical point because we are two levels or resistance: the top of the the bearish channel on the Weekly Chart and the bottom of the broken bullish channel on the 4hr Chart.

Trade Invalidation

No trade

Support & Resistance Levels
Resistance 3	Top of channel	See 4hr Chart
Resistance 2	Top of channel	See Weekly Chart
Resistance 1	Bottom of channel	See 4hr Chart
Current Price	93.33
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

• Source: DealBook®360
• Source: DealBook®360

• Weekly Chart - Bearish channel.
• 4hr Chart - Broken bullish channel.

Get Your DealBook® Charting Package Free!

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 nearly tested the top of the bearish channel on the USD/CHF 2hr Chart again.  Obviously our bullish trade never happened because the pair rose before entering the trade.  We will continue to watch for patterns to form within the context of the channel.

Trade Invalidation

No trade

Support & Resistance Levels
Resistance 3	1.1104	50% of AB on the Weekly Chart
Resistance 2	1.0822	38.2% of AB on the Weekly Chart
Resistance 1	Top of channel	See 2hr Chart
Current Price	1.0337
Support 1	Bottom of channel	See 2hr Chart
Support 2	1.0184	78.6% of XA on the Weekly Chart
Support 3	0.9609	100% of XA on the Weekly Chart

• Source: DealBook®360
• Source: DealBook®360

• Weekly Chart - The 1.0184 level continues to provide support.
• 2hr Chart - Bearish channel.

Get Your DealBook® Charting Package Free!

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 trade from last week is invalidated because the pair dropped down before entering the trade.  There isn't much to watch on this pair at this point, but there is a possible point of long term support around 1.0200.  Notice there is an ABCD pattern that would complete there, 161.8% of XA on the 8hr Chart, and the previous low on the Daily Chart (point F).

Trade Invalidation

No trade

Support & Resistance Levels
Resistance 3	1.0664	50% of EF on the Daily Chart
Resistance 2	Bearish trend line	See Daily Chart
Resistance 1	1.0556	38.2% of EF on the Daily Chart
Current Price	1.0341
Support 1	1.0347	78.6% of FG on the Daily Chart
Support 2	1.0311	127.2% of XA on the 8hr Chart
Support 3	1.0205	100% of FG on the Daily Chart

• Source: DealBook®360
• Source: DealBook®360

• Daily Chart - Potential long term support near 1.0200.
• 8hr Chart - Potential long term support near 1.0200.

Get Your DealBook® Charting Package Free!

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 saw resistance at the top of the bearish channel on the 8hr Chart, but has now risen above the channel.  The previous resistance at the top of the broken channel may have no become support.  As there is not much to work with, we will simply continue to watch for new patterns to develop on the 8hr Chart.

Trade Invalidation

No trade

Support & Resistance Levels
Resistance 3	N/A	N/A
Resistance 2	0.9405	Signifcant high
Resistance 1	0.9261	78.6% of XA on the 8hr Chart
Current Price	0.9180
Support 1	Top of broken channel	See 8hr Chart
Support 2	0.9062	38.2% of AB on the 8hr Chart
Support 3	0.8999	50% of AB on the 8hr Chart

• Source: DealBook®360
• Source: DealBook®360

• Weekly Chart - Will we make a new high soon?
• 8hr Chart - Broken bearish channel.

Get Your DealBook® Charting Package Free!

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

We have drawn two bearish channels on the NZD/USD 4hr Chart.  It is interesting that this channel looks virtually identical to the channel immediately preceding it.  The pair has broken above the second channel, and we will just keep watching for new patterns to emerge.  On the Daily Chart, we have broken out of the bearish channel and are now testing support at previous resistance.

Trade Invalidation

No trade

Support & Resistance Levels
Resistance 3	0.7634	Signficant high at point X on the Daily Chart
Resistance 2	0.7492	78.6% of XA on the Daily Chart
Resistance 1	0.7380	61.8% of XA on the Daily Chart
Current Price	0.7321
Support 1	Top of broken channel	See Daily Chart
Support 2	0.7253	38.2% of AB on the Daily Chart
Support 3	0.7199	50% of AB on the Daily Chart

• Source: DealBook®360
• Source: DealBook®360

• Daily Chart - Will we see support at the top of the broken channel?
• 4hr Chart - Twin channel breakouts.

Get Your DealBook® Charting Package Free!

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.

TRADE RECOMMENDATIONS

• Trades to Watch
• Trades in Progress

currency		recommendation
USD/CHF Medium term		Sell at 1.0677 Stop at 1.0706 Target at 1.0633
NZD/CAD Medium term		Sell at .7320 Stop at 0.7363 Target at 0.7255

• view more trades

currency		recommendation
GBP/JPY Medium term Opened 3/18/2010		Long from 136.1000 Stop at 135.58 Target at 136.89
NZD/USD Medium term Opened 2/26/2010		Short from 0.7141 Stop at 0.7205 Target at 0.7055

• view more trades

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