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Swing Technicals- USD/CHF Short at 1.1690
Last updated 08 September 2010 06:00 PM ET (GMT -5)
| EUR/USD (Medium Term) | | Sell EUR/USD at 1.3075. Stop at 1.3370. Profit target at 1.2435. |
| 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 1.0169. Stop at 1.0192. Profit target at 1.0126. |
| 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
Sell EUR/USD at 1.3075. Stop at 1.3370. Profit target at 1.2435.
| What is the trend? | Down |
| What is this pattern? | - See all chart patterns |
| Why is this significant? | Broken bullish trend line could provide new resistance. |
| What other indicators or Fib Levels support this thesis? | N/A |
Reason for Strategy
We stuck with both the same entry (1.2985) and the same stop (1.3220) while updating this trade idea. The bullish trend line on the 4hr Chart has provided support, and this may lead to the rally required to enter the trade. The broken trend line could provide new resistance near 1.2985 if that level is tested in the next 24 hours.
Trade Invalidation
The trade is invalidated if the trade does not enter by 6pm eastern time tomorrow (9/9/2010).
| Resistance 3 | N/A | N/A |
| Resistance 2 | N/A | N/A |
| Resistance 1 | 1.2985 | Broken trend line |
| Current Price | 1.2720 | |
| Support 1 | 1.2605 | 50% of YZ on the Daily Chart |
| Support 2 | 1.2433 | 61.8% of YZ on the Daily Chart |
| Support 3 | 1.2188 | 78.6% of YZ on the Daily Chart |
- Daily Chart - Trade would enter near the broken trend line.
- 4hr Chart - Bullish trend line.
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 bearish trend line broke out, but unfortunately there were only two points of resistance instead of the three we prefer before watching for a potential break out. The pair rose too much, so this trade idea is now dead. Hopefully something actionable will form by tomorrow's report.
Trade Invalidation
No trade
| Resistance 3 | N/A | N/A |
| Resistance 2 | N/A | N/A |
| Resistance 1 | Bottom of broken channel | See Daily Chart |
| Current Price | 1.5468 | |
| Support 1 | 1.5366 | 38.2% of YZ on the Daily Chart |
| Support 2 | 1.5171 | 50% of YZ on the Daily Chart |
| Support 3 | 1.4975 | 61.8% of YZ on the Daily Chart |
- Daily Chart - Broken bullish channel.
- 30min Chart - Broken bearish trend line.
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
Nothing is really happening that I can use for this pair. However, it is interesting that the wedge on the Daily Chart is still holding on. There must be a sustained breakout soon, and hopefully we can take some action when that finally happens.
Trade Invalidation
No trade
| Resistance 3 | N/A | N/A |
| Resistance 2 | Top of wedge | See Daily Chart |
| Resistance 1 | Top of bearish channel | See 8hr Chart |
| Current Price | 83.84 | |
| Support 1 | Bottom of wedge | See Daily Chart |
| Support 2 | Bottom of bearish channel | See 8hr Chart |
| Support 3 | N/A | N/A |
- Daily Chart - Wedge.
- 8hr 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.
USD/CHF (Swing Forecast)
Potential Strategy
Sell USD/CHF at 1.0169. Stop at 1.0192. Profit target at 1.0126.
| What is the trend? | Down |
| What is this pattern? | Bearish Gartley - See all chart patterns |
| Why is this significant? | There are three levels of resistance lining up at the same basic level (1.0169). |
| What other indicators or Fib Levels support this thesis? | Bearish channel on the 4hr Chart. |
Reason for Strategy
A bearish Gartley with perfect price symmetry is forming on the the USD/CHF 1hr Chart. It still has to rise quite a bit, but the three levels of resistance all line up perfectly. The trade would also enter in the context of a bearish channel in the 4hr Chart.
Trade Invalidation
The trade is invalid if the pair falls to 1.0085 before reaching the entry.
| Resistance 3 | N/A | N/A |
| Resistance 2 | Top of bearish channel | See 4hr Chart |
| Resistance 1 | 1.0169 | Bearish Gartley |
| Current Price | 1.0109 | |
| Support 1 | Bottom of bearish channel | See 4hr Chart |
| Support 2 | N/A | N/A |
| Support 3 | N/A | N/A |
- 4hr Chart - Bearish channel.
- 1hr Chart - Bearish Gartley; sell at 1.0169.
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
This is another example of a pair breaking out of a channel, rising back to the bottom, and seeing new resistance. Also, it appears we may be forming a range on the Daily Chart. Lastly, a new bearish trend line is being tested. We saw some sloppy resistance on the third test, but will will still keep an eye out for another breakout opportunity.
Trade Invalidation
No trade
| Resistance 3 | 1.0831 | 127.2% of AB on the Daily Chart |
| Resistance 2 | 1.0676 | 100% of AB on the Daily Chart |
| Resistance 1 | Bearish trend line | See 4hr Chart |
| Current Price | 1.0366 | |
| Support 1 | 1.0138 | 100% of AB on the Daily Chart |
| Support 2 | 0.9992 | 127.2% of AB on the Daily Chart |
| Support 3 | 0.9806 | 161.8% of XA on the Daily Chart |
- Daily Chart - Is a range forming between point A and point B?
- 4hr Chart - New bearish trend line.
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? | Bearish Gartley - See all chart patterns |
| Why is this significant? | Multiple levels of potential resistance have converged at one precise level. |
| What other indicators or Fib Levels support this thesis? | N/A |
Reason for Strategy
Non Farm Payroll pushed the pair up shortly before entry, but the Gartley pattern still may be providing resistance. While we won't place a trade based on this, we will continue to watch the results of this pattern's completion until something more useful comes along.
Trade Invalidation
N/A
| Resistance 3 | 0.9447 | 127.2% of XA on the Daily Chart |
| Resistance 2 | 0.9387 | 100% of XA on the Daily Chart |
| Resistance 1 | 0.9104 | 78.6% of XA on the Daily Chart |
| Current Price | 0.9189 | |
| Support 1 | 0.8779 | 38.2% of AB on the Daily Chart |
| Support 2 | 0.8643 | 50% of AB on the Daily Chart |
| Support 3 | 0.8507 | 61.8% of AB on the Daily Chart |
- Daily Chart - Will we start testing support soon?
- 4hr Chart - Bearish Gartley.
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
A bearish trend line formed on the NZD/USD 30min Chart, the pair broke out, the pair dropped back to the broken trend line, and then the pair rallied. We have been talking about this a lot lately, and this is a good example. It happened this morning so I couldn't update this, but it was a solid setup. The 5min Chart shows a more detailed imaged of the breakout followed by support at the broken trend line. Keep in mind the trend line is the same, it is just magnified.
Trade Invalidation
No trade
| Resistance 3 | N/A | N/A |
| Resistance 2 | N/A | N/A |
| Resistance 1 | N/A | N/A |
| Current Price | 0.7237 | |
| Support 1 | Broken bearish trend line | See 30min/5min Chart |
| Support 2 | N/A | N/A |
| Support 3 | N/A | N/A |
- 30min Chart - Trend line breakout.
- 5min Chart - Close up of the trend line breaking and the pair subsequently seeing support at the broken trend line.
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.