EUR/CHF Video Update – Reason behind the large movements seen on this pair

EURUSD – DAILY CHART SETUP

Morning All,

Please refer to the chart posted below for an update on EURUSD setup.

Notice how the Pair has formed a squeeze pattern on a DAily chart time frame. We are expecting a ‘breakout’ wither way. My signals are still pointing to a ‘bullish’ move – BUT we have to see the Breakout and close have to happen to the upside for this to be set in concrete. Either way – The next candlestick move would have to ‘close’ above or below the squeeze. Then we would work out our entry and stop loss, and trade accordingly.

Chart Setup on EURUSD 22nd June 2009 / Powered by Metastock

It would be best to have at a 4hr time-frame or hourly to look for any ‘indication’ that we are seeing a ‘bullish or bearish’ indicator to help us get a idea what the direction could be.

Possible Head & Shoulders Pattern Formation on EURUSD – Daily

Morning All,

Just wanted to bring your attention the possibility of a Head and Shoulders Formation forming on a Daily time frame on EURUSD pair. The Euro has battled to go higher than 1.45 against the dollar in recent weeks.Price on Eur is trading below the DAILY PIVOT @ 1.385. If Price cannot close higher than this today, it will confirm that the Head and Shoulders and we should see price move lower over the coming days.

If Price however closes above 1.3940 area should cancel out the formation and we should see Price re testing previous highs around 1.45

Head & Shoulder Formation on Daily Chart 16th June 2009 - Powered by Metastock Charting Software

Please ensure that you do your ‘homework’  prior to placing any trades today. There is a lot of news out and volatility will be a major factor to watch out for. It’s far better to ‘bide your time’ and let the market play it’s hand before making a decision. Too many people get caught up in the moment and that if when mistakes come into play. You do not want to trade on emotion. Trade what is shows you on the Chart…

All those of you out there who are thinking of learning more about how to trade Forex , or who would like to ‘brush up’ on the Forex skills, have a look at our ‘Live with Trader’ deals we have on our website. Click here for more details

Have a great day

Chris

Forex News for Tuesday 9th June 2009

Evening All,

Wanted to inform you all about tomorrow Forex expected news. See attachment below

Forex News for Tuesday 9th June 2009 (GMT)

There is some news out later this evening. You will notice the different colours used on the chart above. I’ve posted a chart below giving you an insight into what each colour represents.

Legend

Until tomorrow, have a fantastic evening!!!

EURUSD Set-up continued

Hi Everyone,

The EURUSD trade I posted is running out of steam / momentum – if you are in this trade – I’d close out at Break Even.

Cheers,

TB

Aussie just went down, down, down…..

Hi Everyone,

For thise of you who follow me on twiiter – Icalled out some great trades today. I’ll be blogging two of them – because they are classics. I traded these in the morning as there was Non-farm payroll out in the US at 13.15 (GMT time), I wanted to make sure I was out of the trades before the data release.

I noticed that the AUDUSD kept testing the R1 level – but just didn’t seem to push through and on the third attempt it made an inverted hammer. Took my trade with an entry at 0.82434, placing my stop 21 pips away (just above the momentum high and the R1 level).

My target was the Pivot Point – that was 87.4 pips away.

Cheers,

TB

US Shares to have in your watchlist – Update

Hi Guys,

I just wanted to let you know that some of those shares i posted on the 25/05/2009  have posted some great gains in a couple of days. If you don’t have the list I blogged last week, find it below. Put these in a watch list and do your analysis. There are some decent trades in these.

Quality Companies to add to your watchlist

Until tomorrow, keep well