Currency Pair Analysis – Forex Trading News – March the 18th 2014


Forex Market News

AUDCAD – An engulfing buyer bar with no clear indication of next direction.

AUDCHF – Has found good support at 7820 area and is making lower highs but also higher lows in a wedge style formation.

AUDJPY – Chopping either side of ema’s that are as flat as the Hay plains I grew up on.

AUDNZD – A brave man to trade against the sizable selling momentum and trend, but there is huge support at 1.05 area and momentum divergence. Another day of buying might produce a trade opportunity.

AUDSGD – Same as AUDUSD, patience

EURAUD – Has produced a mini-cycle above the ema. Need to see the market sentiment so patiently wait for at least 2 bars of buying.

GBPAUD – Rather messy and now under the ema. Nothing doing here.

EURCAD – Just grinding higher with no setup in sight.

EURGBP – Has broken significant high of Jan, so now would be looking for buying opportunities. Need to wait for the pullback/retest of the ema though.

EURJPY – TRADE SETUP. Do your checklists but this is looking good with horizontal and trend line support along with ema and fib support.

EURNZD – Messy and avoid.

GBPCAD – Mid phase 2 no trade.

GBPCHF – Not really a strong horizontal but there is divergence and fib extension. Be wary of this without the decent support level.

GBPJPY – This may look like the EURJPY but it is not. It has a LL, breaking the Feb 168.81 low. No setup.

GBPNZD – Looking to turn higher but the only indication is momentum divergence. No horizontal and no clear buying power so no trade.

CADJPY – Third bounce off support but no trade now.

CHFJPY – TRADE SETUP. Again, off support. Do you checklists and risk management with this and the EURJPY.

NZDJPY – Could be P2 or P1…

USDCHF – End of phase 2 but no signs of change in trend yet.

CADCHF – TRADE SETUP. Do your checklist but I see divergence/extension/support…

USDSGD – Like the GBPAUD, kind of lost and not clear on trend either way.

USDZAR – 50ema has flattened and price is chopping either side of it. No trade.

 

How to Apply Pivot Points Effectively when Trading Forex

Trump’s impact on US GDP, and why the Brazilian real is the new Turkish lira