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Swing Technicals- USD/CHF Approaching Short at 1.0836
Last updated 09 March 2010 06:14 PM ET (GMT -5)
| 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) | | Sell USD/CHF at 1.0836. Stop at 1.0871. Profit target at 1.0783. |
| USD/CAD (Medium Term) | | Wait until a new pattern emerges. |
| AUD/USD (Medium Term) | | Wait until a new pattern emerges. |
| NZD/USD (Medium Term) | | Sell NZD/USD at 0.7141. stop at 0.7205. Profit target at 0.7045. |
- 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
The EUR/USD has continued its range bound movement that has been going
on for over a month. The formation on the Weekly Chart continues to
maintain its unique shape. At this point there is still no pattern to
trade though, so we must remain on the sidelines.
Trade Invalidation
No trade
| Resistance 3 | 1.4141 | 61.8% of AB on the 8hr Chart |
| Resistance 2 | 1.4006 | 50% of AB on the 8hr Chart |
| Resistance 1 | 1.3871 | 38.2% of AB on the 8hr Chart |
| Current Price | 1.3600 | |
| Support 1 | Top of broken bearish channel | See 8hr Chart |
| Support 2 | 1.3403 | 61.8% of YZ on the Weekly Chart |
| Support 3 | 1.2930 | 78.6% of YZ on the Weekly Chart |
- Weekly Chart - Odd group of candles over the past month.
- 8hr 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
The bullish channel on the GBP/USD 1hr Chart has broken. The pair is now sitting at 161.8% of AB on the Weekly Chart. However, I would not be surprised if this was a pause before another fall. At some point the GBP/USD will rally, but I would not want to buy into this momentum.
Trade Invalidation
No trade
| Resistance 3 | 1.5645 | 38.2% of XC on the Weekly Chart |
| Resistance 2 | Bottom of broken channel | See Weekly Chart |
| Resistance 1 | Bottom of broken channel | See 1hr Chart |
| Current Price | 1.4991 | |
| Support 1 | 1.4982 | 161.8% of AB on the Weekly Chart |
| Support 2 | 1.4535 | 200% of AB on the Weekly Chart |
| Support 3 | N/A | N/A |
- Weekly Chart - How will the pound react to 1.4982 (161.8% of AB)?
- 1hr 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/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
The only pattern to draw is the
bullish Gartley forming on the Daily Chart. We have not fully posted
it yet for several reasons: strong long term bearish channel, trade
will take multiple days to complete, and long bars would have to be
present for the pattern to complete soon. Therefore, we will keep it
on the radar for now, but we will not post the trade yet.
Trade Invalidation
No trade
| Resistance 3 | 104.47 | 50% of XC on the Weekly Chart |
| Resistance 2 | 99.83 | 38.2% of XC on the Weekly Chart |
| Resistance 1 | Top of bearish channel | See Weekly Chart |
| Current Price | 89.96 | |
| Support 1 | 88.25 | 61.8% of XA on the Daily Chart |
| Support 2 | 87.12 | 100% of AB on the Weekly Chart |
| Support 3 | 86.74 | 78.6% if XA on the Daily Chart |
- Weekly Chart - Bearish channel.
- Daily Chart - Possible bullish Gartley forming.
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 1.0836. Stop at 1.0871. Profit target at 1.0783.
| 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 the USD/CHF 2hr Chart. The
pattern has excellent price symmetry, although it is too early to make
any judgment on time symmetry. The trade would also complete near the
to of the bearish channel on the 4hr Chart. So far this looks like a
textbook setup.
Trade Invalidation
A move below 1.0690 before reaching point D would cancel the trade. Additionally, a move above 1.0871 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 1.0770, the trade is also invalidated.
| Resistance 3 | N/A | N/A |
| Resistance 2 | Top of bearish channel | See 4hr Chart |
| Resistance 1 | 1.0836 | Bearish Gartley |
| Current Price | 1.0749 | |
| Support 1 | Bottom of bearish channel | See 4hr Chart |
| Support 2 | N/A | N/A |
| Support 3 | N/A | N/A |
- 4hr Chart - Trade would enter near the bearish channel.
- 2hr Chart - Bearish Gartley; sell at 1.0836.
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
We have changed the wedge on the USD/CAD to a bearish channel because the new price action fits the channel much better. The channel is relatively narro though, so we will likely watch for a breakout rather than a pattern within the channel.
Trade Invalidation
No trade
| Resistance 3 | 1.0507 | 50% of AD on the 8hr Chart |
| Resistance 2 | 1.0443 | 38.2% of AD on the 8hr Chart |
| Resistance 1 | Top of bearish channel | See 1hr Chart |
| Current Price | 1.0261 | |
| Support 1 | Bottom of bearish channel | See 1hr Chart |
| Support 2 | 1.0223 | 100% of XA on the 8hr Chart |
| Support 3 | 1.0072 | 127.2% of XA on the 8hr Chart |
- 8hr Chart - Will we make a new low below 1.0223 this week?
- 1hr 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.
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
A bullish channel has formed on the AUD/USD 1hr Chart. The pair has continued to rise past 61.8% of XA on the Daily Chart. However, we still must remain on the sidelines until a pattern forms.
Trade Invalidation
No trade
| Resistance 3 | 0.9405 | 100% of XC on the Daily Chart |
| Resistance 2 | 0.9228 | 78.6% of XC on the Daily Chart |
| Resistance 1 | Top of bullish channel | See 1hr Chart |
| Current Price | 0.9149 | |
| Support 1 | Bottom of bullish channel | See 1hr Chart |
| Support 2 | 0.8934 | 38.2% of AB on the Daily Chart |
| Support 3 | 0.8863 | 50% of AB on the Daily Chart |
- Daily Chart - Next stop 78.6% of XA?
- 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.
NZD/USD (Swing Forecast)
Potential Strategy
Sell NZD/USD at 0.7141. stop at 0.7205. Profit target at 0.7045.
| 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? | Entry occurs just above 38.2% of X3A and 50% of X2A. Double top. |
Reason for Strategy
A bearish Gartley pattern is forming on the NZD/USD 4hr Chart. There
are three potential candidates for point X that all line up at the same
basic level. This trade would also form a possible double top.
Although the pair recently came close to falling below C, it didn't
breach that point. Therefore this pattern is still good to go.
Trade Invalidation
A move below 0.6840 before reaching point D would cancel the trade. Additionally, a move above 0.7205 would stop the trade out. Additional long bars in the CD leg near the entry would also invalidate this trade. Also, if the pattern comes within 20 pips of hitting the entry, does not enter, and reaches 0.7015, the trade is also invalidated.
| Resistance 3 | N/A | N/A |
| Resistance 2 | N/A | N/A |
| Resistance 1 | 0.7141 | Bearish Gartley |
| Current Price | 0.7025 | |
| Support 1 | N/A | N/A |
| Support 2 | N/A | N/A |
| Support 3 | N/A | N/A |
- Daily Chart - Trade would enter just above 38.2% of X3A and 50% of X2A.
- 4hr Chart - Bearish Gartley; sell at 0.7141.
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.