Hi folks,
The USD posted a double bottom on the Daily Currency Barometer. This DOES NOT mean a reversal for the USD pairs. Not unless key price levels are breached. Look for consolidation patterns before the next push (USD sell-off). However, if key price levels fail, the USD Bulls could have their day for a bit. The only thing we know for sure at this moment:...
Hi folks,
The Daily Currency Barometer is showing that a consolidation is complete and the EURUSD is ready for another impulse to the upside. Both currencies consolidated to the 50 level and are making another push. If either currency breaches the 50 level I will update this post. So far, everything is set for one more impulse.
This would be the 3rd impulse for...
Hi guys,
Most of the JPY pairs are in some sort of reversal pattern at the moment. It's unclear if these reversals are consolidations or true longer term trend reversals. However, we should be able to grab some nice pips from these moves. The EURJPY is on my radar at present. The Double Top combined with a longer term trend line break, provide strong support for...
Hi guys,
My analysis and reason for this trade are post on the linked idea. I've been waiting for Currency Barometer confirmation before my entry. I received confirmation and I entered. Levels are marked on the chart. I may extend my target a bit, but my initial target is inside the previous swing low with a pretty tight stop = excellent risk/reward on this trade.
Hi guys,
I mentioned this trade in my Twitter feed last week, but forgot to post here. There are lots of trend lines to support a trend reversal here, but this post is for our Currency Barometer users. We can use the Short Term Barometer (use the 8 minute interval) to time an entry for the trade like this. Trend reversals are usually bouncy and give us more than...
Hi guys,
I am still waiting for a long term entry to short the EU and we 'could' be at an important cross-roads. The Daily Currency Barometer is showing a tight pairing for the EUR and USD. Currencies cannot stay paired for very long (macro economics won't allow that to happen) and when they break apart, we usually see a fairly big move. On average, these moves...
Hi guys,
Most folks are forecasting a Bearish impulse from the EURUSD. I do not disagree, but I would like to see more confirmation before I jump in. I posted a note about the double top about a month ago. Since the double top from EUR, EU prices have been fairly Bearish until about 2 weeks ago. Long term fundamentals seem to support a Bullish trend for the EU,...
Hi guys,
You've probably been enjoying the EURUSD ranged market over the past week or so, but wondering where it will go next. If you remember, we had something very similar back in May. The sideways consolidation ended with a large impulse to the upside (bullish). If you look at figure #1 and #2; we are in the same type of consolidation pattern now. If the same...
Hi guys,
The recent EURUSD trade idea posted are conflicted, but most agree on the longer term trend (up). If you are using my tools, there are a few easy ways to find trade entries. Today we want to find a Bullish entry, but we won't get another Trend Signal alert. However, Trend Signal is still confirming a Bullish trend. Our best way to find an entry is to use...
Hi guys,
Hopefully you caught a piece of the EURUSD consolidation (see linked idea). Most of our indicators are signaling the end of the consolidation move and the beginning of a new Bullish move. Both the X Meter and Wave Trend (30 minute time frame) are turning Bullish. The long term Currency Barometer seems to confirm this pattern. There are several Cypher...
Hi guys,
After a nice break, I'm back at trading! Yay! The EURUSD has been climbing for several days without a consolidation. This is due mainly to USD weakness. However, trends fade eventually and all markets must consolidate before the next push. The long term outlook for the EU is still in question (opinions vary sharply on this topic), but a short term...
Hi guys, the GBP and AUD are both over extended on the long term Currency Barometer. We should see the GBP pairs begin to fade a bit over the next couple of hours. The AUD has a little more room to push, but looks like it might be finished also.
This is not investment advice, just my opinion(s). Please trade accordingly.
Trade safe and keep an eye on news.
Hi guys, the USD is over-sold at the moment. The USD does not 'usually' spend a lot of time at the bottom or top of the barometer. I expect a bullish bounce from the USD soon. We'll see...
Watch the USD pairs for key price levels. If the USD continues it's bullish push, watch to key prices for a bounce. This is a great way to trade over extended currencies. It is...
Hi guys, price action has been fairly 'normal' over the past several days, so there hasn't been a lot to report on via the Currency Barometer. All of the over extensions were happening on short time frames. This is excellent for day trading, but hard to post a report (i.e. the timing to enter the trade is pretty quick on shorter time frames).
JPY - the JPY has a...
Hi guys, I was wondering why the JPY fades kept bouncing? I would get my stops to break-even and many of my trades would zero out, so I decided to dig a little deeper.
It's good idea to zoom out on the Currency Barometer every few days. I mentioned the JPY double-top on the Long Term Barometer a couple days ago. When we zoom out to the 'Daily' time frame (the...
Hi guys, the JPY is over extended on the long term barometer. In addition, this is a double top for the JPY. I have no idea why, but the JPY love's double tops and bottoms. Expect a reversal for the JPY pairs very soon. We may get one more small push, but the JPY can't go much further without consolidating.
The AUDJPY appears to be the most over extended at the...
