thetradersclub - Daily report USD/JPY

[forex618]

March 19, 2009 [FOREX REPORT]
USD/JPY
Weekly Trend direction: Bullish
Weekly trend reversal level: 95.60
Key G7 support levels: 95.60
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 dropped back to the weekly reversal level at 95.60. For now, as we cling to
support here, the strategy remains unchanged: Buy dips, stops below 95.60, target 100.
Summary: Buy dips to support levels, stops under entry signal, target 100.00 and
then 105.00

 

[forex618]

thetradersclub.com - Daily Report

March 23, 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: Bullish
Weekly trend reversal level: 1.2830
Key G7 support levels: 1.3410, 1.3510
Counter-trend opportunities: 1.3800/50
Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after
an entry signal.
Today's trade suggestion:
Incredible stuff, as the euro moved just under 900 pips higher last week, and volatility
once again leap up to near all time highs. Our direction for the week is naturally bullish,
but there will be few chances to buy until we drop to between 1.3400 and 1.3500. In the
meantime, there may be a good opportunity to SELL the euro near 1.3800/50, being a
significant round number and previous support/resistance and Fibonacci extension. Wait
for a clear reversal signal before selling and aim for the support targets at 1.3410 and
1.3510. Long trades should then be closed and opportunities for reversing to long sought.
As the euro works its way through this early part of the year, it is unlikely to venture
outside the 1.2500 to 1.4500 range, so there may be plenty of opportunities to trade in
either direction.
Summary:
Sell near 1.3800/50 on signs of reversal. Target 1.3500 or 1.3400. Buy dips to
these supports after a G7 entry signal. Target 1.3800.

 

[forex618]

thetradersclub - Daily report GBP/USD

March 23, 2009 [FOREX REPORT]
GBP/USD
Weekly Trend direction: Bullish
Weekly trend reversal level: 1.3840
Key G7 support levels: 1.4300, 1.4200
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 has moved higher in sympathy with the general (and dramatic) round of dollar
weakness last week. However, the rally has been anything but impressive in comparison
to, say, the euro. Nevertheless, the bullish direction has been established for now, and we
look to buy dips to support levels which lie at 1.4300 and 1.4200. Watch and wait for the
price to move lower to these levels, watch for a clear sign of reversal after a G7 entry
signal and then buy for a target of 1.4600, and maybe 1.4800. The pound may have to
play “catch-up” with the euro this week, so we may get a strong rally. As with the euro,
currencies are likely to be range-bound for a good part of the first half of this year (and
perhaps all of 2009), so there will be many opportunities to trade in both directions at jey
support and resistance levels.
Summary:
Buy dips to supports at 1.4200 or 1.4300 after a clear reversal signal. Target
1.4600 and maybe 1.4800.

 

[forex618]

thetradersclub - Daily report EUR/USD

March 25, 2009 [FOREX REPORT]
G7 FOREX REPORT
All trades are subject to a clear signal given as per the G7 system
EUR/USD
Weekly Trend direction: Bullish
Weekly trend reversal level: 1.2830
Key G7 support levels: 1.3410, 1.3350
Counter-trend opportunities:
Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after
an entry signal.
Today's trade suggestion:
No changes to the strategy for the day, as the euro remains well supported above the
1.3410 and 1.3350 supports. Our direction for the week remains bullish and we’ll be
watching for signs of reversal at one of these two levels. As the euro works its way through
this early part of the year, it is unlikely to venture outside the 1.2500 to 1.4500 range, so
there may be plenty of opportunities to trade in either direction. Target for today, if we
manage to rally off supports, is 1.3700 and then 1.3800, where we may try small countertrend
shorts.
Summary:
Buy dips to 1.3410 or 1.3350 after a G7 entry signal. Target 1.3700 and then
1.3800.

 

[forex618]

Re: thetradersclub - Daily report JPY/USD

USD/JPY
Weekly Trend direction: Bearish
Weekly trend reversal level: 99.00
Key G7 resistance levels: 99.00
Counter-trend opportunities: 97.00/680 or 96.00
Strategy: Whilst below the weekly trend reversal level, sell rallies to resistance levels
after an entry signal
Today's trade suggestion:
The dollar has had a decent rally against the yen and we are just a “chip and a putt” below
the weekly reversal level. If we close up around 98.00 or higher this week, we will have
completed a “bullish engulfing candle” and we may reverse direction next week to bullish.
For now, however, we need to hold below 99.00 to remain bearish. It is quite likely that we
WILL try to take out 99.00 and reach for the 100.00 barrier before the weekend, and that
make counter-trend long trades become quite attractive. EITHER look to sell small
positions around the 99.00 level OR look to buy on dips to support at 97.00/96.70 (maybe
even 96.00) for a rally to 99.00 and then 100.00
Summary: Sell rallies to 99.00 after a reversal signal. Target 97.00. Watch for
chances to try small counter-trend longs from 97.00/96.80 or 96.00.