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[forex618]

April Fools Day, 2009 [FOREX REPORT]
G7 FOREX REPORT

EUR/USD
Weekly Trend direction: Bearish
Weekly trend reversal level: 1.3740
Key G7 resistance levels: 1.3350, 1.3428, 1.3480
Counter-trend opportunities:
Strategy: Whilst below the weekly trend reversal level, sell rallies to resistance levels
after an entry signal.
Today's trade suggestion:
Little change since Monday, and the strategy remains the same: More drama on Friday, as
the euro sold off sharply later in the session. This has formed a perfect weekly “tweezers
top” and very close to a “dark cloud cover”. Because of this, we have reversed the weekly
direction to short, with the reversal level at the top of the tweezers at 1.3740. We now
look to sell the euro on rallies, with the strongest resistance at 1.3350 (the 38.2%
Fibonacci retracement level and the previous support. There are other lesser resistance
levels either side at 1.3380 and 1.3480. Watch and wait for a clear G7 entry signal before
selling, with a target of 1.3200 and then the key 1.3000 level.
Update: No change. 1.3350 entry level was perfect for 150 pips profit
Summary:
Sell rallies to the resistance levels above only after a clear G7 entry signal. Target
1.3200 and then 1.3000

 

[forex618]

Re: thetradersclub - Daily report JPY/USD

April Fools Day, 2009 [FOREX REPORT]
USD/JPY
Weekly Trend direction: Bullish
Weekly trend reversal level: 95.40
Key G7 support levels: 98.50, 98.00
Counter-trend opportunities:
Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after
an entry signal
Today's trade suggestion:
We have finally hit the 100.00 mark! Hopefully now we will hold above support at
98.50/98.00 and then rally through 100.00 to our long-held target of 103.00. Watch and
wait for dips to 98.50, or hold your existing long positions, for a rally back to 100.00 and
then 103.00. Be prepared for some fun and games a little later today when the NFP report
is released (preferably be out of the market at that time). When all the dust has settled,
the dollar should be well above the 100.00 mark and closer to 103.00. The next resistance
above 103.00 is 105.00, where we expect some consolidation.
Summary: Hold longs or buy dips to 98.00/50 after a reversal signal. Target
100.00 and then 103.00

 

[forex618]

Re: thetradersclub - Daily report EUR/USD

April 14, 2009 [FOREX REPORT]
G7 FOREX REPORT
All trades are subject to a clear signal given as per the G7 system at Forex trading videos|forex reviews|forex trading systems
EUR/USD
Weekly Trend direction: Bearish
Weekly trend reversal level: 1.3600
Key G7 resistance levels: 1.3450, 1.3600
Counter-trend opportunities:
Strategy: Whilst below the weekly trend reversal level, sell rallies to resistance levels
after an entry signal.
Today's trade suggestion:
Sideways in a large range for the past month, there is not a lot to add to last week’s
commentary. If anything, the Euro looks like it is in a “bullish flag” pattern, with the
potential to rally back up to 1.3900 or 1.4200 in the next few weeks. Still, we remain true
to the G7 system and look to sell the Euro into rallies to the resistance levels above
(1.3450 and 1.3600) and we’ll wait for a clear G7 entry signal if/when the price reaches up
there. Targets will be 1.3100 initially, and then the ever-present support at 1.3000. Note
that the Pound is probably ready for a decent rally, which might drag the euro up with it in
the short term.
Summary:
Sell rallies to the resistance levels above only after a clear G7 entry signal. Target
1.3100 and then 1.3000.

 

[forex618]

Thetradersclub - Daily Report GBP/USD

April 14, 2009 [FOREX REPORT]
GBP/USD
Weekly Trend direction: Bullish
Weekly trend reversal level: 1.4580
Key G7 support levels: 1.4770, 1.4580
Counter-trend opportunities:
Strategy: Whilst above the weekly trend reversal level buy dips to support levels after
an entry signal.
Today's trade suggestion:
The Pound is looking very bullish indeed and may well be the investment of the month,
with a target around the 1.6000 level. This view is supported by the G7 system, with the
bullish direction being held up as long as we are above the weekly reversal level at 1.4580.
We might not get another decent shot at buying dips for some time (you should already be
long from last week, or have taken profits) Supports now lie at 1.4770 and the weekly
reversal level at 1.4580. If/when we break above the previous rally resistance at 1.4961,
we should rapidly advance to 1.5000 and then 1.5300.
Update: No changes!
Summary:
Buy dips to support levels above after a clear G7 entry signal. Target 1.4960, then
1.5000. (then 1.5300!)

 

[forex618]

Re: thetradersclub - Daily report EUR/USD

April 14, 2009 [FOREX REPORT]
G7 FOREX REPORT
All trades are subject to a clear signal given as per the G7 system at Forex trading videos|forex reviews|forex trading systems
EUR/USD
Weekly Trend direction: Bearish
Weekly trend reversal level: 1.3600
Key G7 resistance levels: 1.3450, 1.3600
Counter-trend opportunities:
Strategy: Whilst below the weekly trend reversal level, sell rallies to resistance levels
after an entry signal.
Today's trade suggestion:
Sideways in a large range for the past month, there is not a lot to add to last week’s
commentary. If anything, the Euro looks like it is in a “bullish flag” pattern, with the
potential to rally back up to 1.3900 or 1.4200 in the next few weeks. Still, we remain true
to the G7 system and look to sell the Euro into rallies to the resistance levels above
(1.3450 and 1.3600) and we’ll wait for a clear G7 entry signal if/when the price reaches up
there. Targets will be 1.3100 initially, and then the ever-present support at 1.3000. Note
that the Pound is probably ready for a decent rally, which might drag the euro up with it in
the short term.
Update: No change to the strategy!
Summary:
Sell rallies to the resistance levels above only after a clear G7 entry signal. Target
1.3100 and then 1.3000.

 

[forex618]

Re: thetradersclub - Daily report EUR/USD

April 17, 2009 [FOREX REPORT]
G7 FOREX REPORT
All trades are subject to a clear signal given as per the G7 system at
EUR/USD
Weekly Trend direction: Bearish
Weekly trend reversal level: 1.3600
Key G7 resistance levels: 1.3210, 1.3250, 1.3280
Counter-trend opportunities: Try tiny longs at 1.3100
Strategy: Whilst below the weekly trend reversal level, sell rallies to resistance levels
after an entry signal.
Today's trade suggestion:
We have dropped to key support at 1.3100, and it will be interesting to see how the
market deals with this level. Our bearish strategy remains intact (apart from a countertrend
chance to buy the euro at 1.3100) and we look to sell into resistance levels above on
the chart. The key level to watch today is the 50% Fibonacci retracement level near the
200EMA at 1.3250. First target for short trades is 1.3100, and then (perhaps) 1.3000 nex
week. It seems there is little consensus as to which way the dollar should be trading this
year, so continue to expect large, and mainly random, moves in either direction, with
opportunities to trade both ways.
Summary:
No change: Sell rallies to the resistance levels above only after a clear G7 entry
signal. Target 1.3100 and then 1.3000.

 

[forex618]

Re: daily report -GBP/USD

April 20, 2009 [FOREX REPORT]
GBP/USD
Weekly Trend direction: Bullish
Weekly trend reversal level: 1.4580
Key G7 support levels: 1.4680, 1.4580
Counter-trend opportunities:
Strategy: Whilst above the weekly trend reversal level buy dips to support levels after
an entry signal.
Today's trade suggestion:
With the majors in such a mess, the pound has managed to cling to support and maintain
the bullish direction. That having been said, the weekly chart exhibits a classic “shooting
star” candle pattern, with the spike high at the 1.5000 level hard to break. For now, we’ll
stick to the bullish direction, with supports at 1.4680/1.4700 (the 78.6% Fibonacci level)
and 1.4580 (the weekly reversal level) Right now, we are near the 1.4700 level, and we’ll
watch and wait for a clear G7 buy signal before entering a long position for a rally back to
1.5000. This week is likely to be as messy as the past two months, so be prepared to trade
nimbly and carefully.
Summary:
Buy dips to support levels above after a clear G7 entry signal. Target 1.5000

 

[forexsys2]

April 20, 2009 [FOREX REPORT]
This week is likely to be as messy as the past two months, so be prepared to trade nimbly and carefully.

Maybe it's better to wait until the next week ?

 

[forex618]

Re: thetradersclub - Daily report EUR/USD

April 27, 2009 [FOREX REPORT]
G7 FOREX REPORT
All trades are subject to a clear signal given as per the G7 system at Forex trading videos|forex reviews|forex trading systems
EUR/USD
Weekly Trend direction: Bearish
Weekly trend reversal level: 1.3310
Key G7 resistance levels: 1.3300
Counter-trend opportunities: 1.3100’ish
Strategy: Whilst below the weekly trend reversal level, sell rallies to resistance levels
after an entry signal.
Today's trade suggestion:
Difficult conditions prevail as the majors continue to seek direction against the dollar.
Technically, the Euro remains bearish, but take note of the weekly “bullish engulfing
candle” which places some doubt on this analysis. In any event, the years have shown that
it is normally better to go with momentum than to pre-empt a new direction, and we shall
continue to look for short trades whilst below the weekly reversal level at 1.3300. We will
have to wait a while this week, for some fills and back-fills to take place before we can
come up with a sensible set of resistance levels. For now resistance lies at 1.3300, and any
rallies to there, accompanied with the prerequisite reversal signals, will be opportunities to
sell the euro. For my money, however, it’s probably better to hold off trading the euro for a
day or two to see how this works itself out. There may be a chance to try small countertrend
longs near 1.3100 (after a clear signal)
Summary:
Sell rallies to the 1.3280/1.3300 only after a clear G7 entry signal. Target 1.3000