The Wizetrade FOREX Blog

Recap from Yesterday's Blog into Today's action:

GBP/USD: asked you to look for a 180 with significant power for a swing...you got a swing short

EUR/USD: told you I wanted it to fail and that if it popped and remained above 1.40 we might not get the play....guess what. It popped and couldn't hold 1.40...you got the play short that we wanted.

USD/CHF: told you that if we could hold above 1.05 you might be able to work a swing trade out of it...low today was 1.0498 and it pushed higher for the swing we wanted marking highs at 1.06 today.

USD/JPY: remarked for I believe a 3rd day the range of 90/91, we ran the range today and popped above 91 only to the 91.27 level, this may be able to lead us into a direction to the long side if we can hover at/around 91 and push again with USD strength tonight.  You still want to be aware of the range.

USD/CAD: I told you that I wanted to see this one rally off of the 1.0550s...your low today was 1.0545.  It pushed highs today at 1.0630. Gave us exactly what I wanted.

AUD/USD: I told you that I wanted this one to come up for us and it did early in the session. I also mentioned that in order for it to really get going it would have to really come above the 0.89 level...it breached it by 15 pips and found its failure.

Tonight into Tomorrow: Always wait for the appropriate charts!

GBP/JPY: Stalk this one like mad!!! It has been a number of days that I've been saying this and I will continue to say it until it gives us a worthy break.  It is starting to show a preference to the long side.  We have to stay above 145 if we want it to grow. Pay close attention.

GBP/USD: This one is still annoying.  1.59 is an important number to hold or to break.  If we break down, be careful around 1.5830s.  I would prefer scalping or active opportunities on this one.  It hasn't really chosen a trend.

EUR/USD: We broke a trend line on the 180 with the Short swing that we wanted that came to be.  It could develop a bit lower, but 1.39 is an issue for us at the moment and of course on the high end of things we still need to watch the 1.40.  Your trading range may narrow itself a bit, I would evaluate scalping/active trades and then build into swing if the market allows you to.  If 39 holds then you may end up with some risky long side scalps as well.

USD/CHF: 1.06 is the number to beat for this pair.  If it can't breach it well and maintain above that level it wouldn't surprise me to see some failure of the trend.  Super Active/Active...build into swing only if it is paying you.

USD/JPY: See summation above.

USD/CAD: This one was bullish today which was what I wanted but now it is respecting some prior resistance levels.  Key chart for me on this one is the 60 minute chart. The 720 also comes into play as is does not look strong enough to hold.  I almost want this one to fail again, but it looks a little confused at the moment so I may not watch it all that closely.

AUD/USD: For a second day I would like to see this pull up again. Same rules apply as did yesterday.  Please review yesterday's blog post for details.  You have a couple of key levels on this one...0.8850 ballpark support and 0.8900 ballpark resistance.  Regardless of which direction this goes, you need to probably remain in an active trading mindset as you have additional secondary levels that aren't too far away.

That's it for today...be careful tonight and remember that we are pulling into the Thursday before Non-Farm/Unemployment....things could get a little weird in advance of what should be major news Friday.

Wishing you all the PIPs you can handle!

Lindsay Hall

Yesterday-Recap:

GBP/USD: -I asked you to watch support at 1.59 as it was holding us up...guess what your low for today was? 1.5902

               -Iasked you to pay attention to small opportunities with local breaks of the 1.5960s and 70s....guess where our current bid is 1.5966

EUR/USD: -I gave you a key to evaluate additional buying pressure around 1.3900...High today 1.39711, Low 1.3886.

USD/JPY: -I asked you to keep on eye on this one as it was ranging between 90 and 91 and sitting in the middle of the range...current bid is 90.38 with a High for today at 90.90 and a Low at 90.26.

AUD/USD: -I told you that the pair really needed to break 0.8930 to evaluate buying pressure...guess what your High was...0.8926, and what did it do? Sold off.

There is no way to be accurate with all that we talk about and evaluate and there will always be losses in addition to the winners, but I hope that following along helps each of you to establish your own observation patterns as well as gain a bit of insight from my perspective.

Today is rather boring to me and nothing jumps out as phenomenal.

Tonight I would really enjoy seeing failure of the EUR/USD and a return to trend, however if it pops and remains above 1.40 then we may not get that play just yet.

Keep an eye on the USD/CHF.  If 1.0500 holds us up then you may be able to work a swing trade out of it.

The GBP/USD is boring me to tears...Watch the 180 for significant power and if you are playing ranges keep it tight.  Lack of direction prevails and if you get the right charts then either side may be a swing trade opportunity.

USD/JPY: See yesterday and the 90/91 issue....needs to break one way or another.

USD/CAD: Trying to develop a third cycle down on the 180, but personally I would like to see this one rally off of support. Watch the 1.0550s and key on the 720 Minute light.

AUD/USD: Now that rate information has been absorbed, my preference here is Long, but we have to wait for the right charts to try and make a move.  It needs to come above the 0.89 level to feel its oats but at the same time you have to be careful of 0.90 as a psychological.  This one may need to have a couple of days to figure itself out.

My favorite to watch and stalk right now is the GBP/JPY...the Long term month offers us nothing.  The Mid term week gives us slight selling pressure with ascending lows. The Short term day is where I start to key in...no real direction for about a week...a lot of action and comfort in the 144s but this needs to be broken and that's what I want to see.  I don't care what direction it goes, but a swing is what I'm looking for...the 180 and 720 will be key.  Start small and grow into it b/c you don't have a lot of support for a true direction.

Wishing you all the PIPs you can handle!

Lindsay

Majors Review:

GBP/USD: 1.5832 is a number to watch as support from the Short term day chart.  Of course before we can get there we need to break through the 1.59 level which seems to be holding us up a little bit.  Keep a close eye on these support levels, but realize that your day chart is already a couple of days in on the short side so keep profit targets tight if you find a short side trade. Watch the 1.5960's and 70's on your smaller charts for local resistance breaks.

EUR/USD: Strong trend short still remains and little pullback today may need to additional short PIPs into tomorrow.  Key in on a 720 minute chart to see how slight the buying pressure has been.  If you are looking to take it back in trend then please keep it to super active or active opportunities should they arise.  Key light to evaluate for additional buying pressure would be the 180 Minute chart with resistance around 1.3900, keeping in mind the potential to headfake 20 high or so.

USD/CHF: Nice USD strong trend on this one, but again your day chart is overextended.  Even with that said as is key with the EUR/USD, it is so also with this one that the 720 is quite shallow.  It may lend itself to additional buying pressure, but please keep your trades more active  with tight targets.

USD/JPY:The Short term day has finally pulled up a little bit.  If this can continue, you may be able to find a swing long, but be careful because the heavy trends are mixed. You need to pay close attention to behavior around 91.00 and also around 90.00.  We sit directly between them at this point.

USD/CAD: Already delivered what I asked for this morning on Opening Bell...I mentioned that I wanted it to fail at the time that is was around1.0686 and it later fell to a low on the day around 1.0621.  I hope that some of you were able to catch that after the heads up on tradingviews.com this morning.

AUD/USD: This pair has failed as I wanted it to for the last couple of weeks and now I would be perfectly alright with it gaining a bit of strength.  It has rallied back a bit today, but the numbers and chart you need to watch are these: 180 Minute Chart.  This pair really needs to break above the 0.8930 level in order to have an attempt at breaking the latest negative trend.  Because of the fact that it has already moved up today, please be cautious with long side opportunities and keep them to scalping for active trades.

Come see me on Opening Bell via TradingViews.com on Monday morning where we weill cover all markets.

The USD has shown dominance in the market again today...let's run through potential setups for Sunday night.

GBP/USD: The Long term month is now angling slightly downward but still finds no strength or stability.  It has been months since we have had a really good trend on this one. The Mid term week is second timeframe and lows are coming up a bit.  Prior low from the weekly chart that we need to watch for is 1.5832.  Granted, we are still sitting around 1.6000 so we have a bit to drop before reaching that level.  The Short term day has stretched into a gorgeous bounce and the 720 as well.  Let this settle and realize what kind of power showed up to break the range on the 720. I wouldn't fight the short side on this one and I would wait to evaluate the charts for active to swing plays.

EUR/USD: Long term month still negative and pretty. Mid term week is strong and stable to the short side. The Short term day will be pushing a day 5 scenario so please use caution in trend expectations.  While the angle and separation are great, you are already four days in. Please evaluate scalping or active trades in trend.

USD/CHF: This one shows up better than the EUR/USD with the USD strength that has arrived. Long term monthhas the potential to try and reverse the downward trend, but we will have to wait to see if it can build additional power to do just that.  The Mid term week is gorgeous with great strength and stability to the long side. The bounce on the day chart is also much stronger than that of the EUR/USD. A fresh 720 may give you an opportunity to scalp into swing long, but keep expectations reasonable if the charts show up...just realize that even though our day chart has angle and separation we will still be day 5 coming Sunday.

USD/CAD: Long term month all mixed up, no help at all. Mid term week is strong but starting to slow with lack of stability. The Short term day is massively overextended so I am dying for scalps/actives short, but you have to wait for the charts and keep in mind the greater trend.

USD/JPY: Still completely confused. Month=sideways, Week=sideways for a long time, Day=sideways for about 5 days.  Scalp this or try to play a break on the 180. Be Careful! Not my favorite pair right now.

AUD/USD: Last week I told you how much I wanted this one to fail and it has done just that for us but now we need to be cautious.  Month sold off a bit but not in a dramatic fashion...could easily come back up.  Mid term week still strong and somewhat stable to the short side with support levels around the .8750s The Short term day is still showing selling pressure but the overextension means that I would not be surprised to see retracement long soon.  If evaluating short side...try scalping or active.  If you are truly looking for swing it may only come to you countertrend.  Pay attention.

Sorry all for the delay...spent some time out of town and getting adjusted to the thing they call daylight. :)

Here's a heads up for this evening:

GBP/USD: This one is still so indecisive it's like a roller coaster.  The Short term still isn't strong, the 720 isn't doing anything special and  your 180 still shows itself to be range bound even with the latest bout of selling pressure.  1.6100 is really the support level that you want to keep an eye on.  If it respects it, who knows maybe you'll come all the way back up to the 1.6250s and 1.6300 level.  Use caution, start active and build into swing if profitable.  Either direction works at this point.

EUR/USD: Definite downward trend established on this one for the Long term, Mid term, and Short term.  You are day 3 on this one so if you move in trend please keep it to scalping or active opportunities.  If it starts to climb instead of fail, I would probably let it do that all on its own...without participation on my part.

USD/CHF: Same thing applies for this one as applied for the EUR/USD only in the opposite direction.  USD strength has shown up, but finds itself a bit overextended.  Keep trades to super active/active.

USD/JPY: Key light for me on this one is the Short term day chart.  Resting only 80 PIPs or so off of lows, this thing really needs a burst of energy.  The trend has been to the short side, but the range is what causes our problems right now. Active into swing is the trade outlook that I would be looking for on this one.

USD/CAD: The day is very overextended which makes me want to short this one but the 720 has already retraced a bit so that may end up being a caution flag.  I personally would love to short this one actively, but you have to wait for the right opportunity and remember that the Mid term chart is still very bullish.  Be careful with this one either direction.

AUD/USD: Your Aussie is overextended to the short side on the Short term day chart.  This one has a 720 that's potentially bottoming out.  I would pay close attention to the 180 and whether or not it respects 0.8900 level.  Active starts on this one.

There are your Majors...don't forget that next week you will be able to catch me on Opening Bell from 7:30-10am central time.

Talk again soon!

Lindsay

Alright Folks,

Let's get focused on the Majors:

GBP/USD: This thing is all kinds of confused. Long term sideways for months, Mid term that was strong to the high side is slowing down, 1.62 ballpark is the low end on the Short term range with a 1.6375/1.64 level as resistance on the day chart.  Due to a lack of true direction, please focus on super active or active trades.  Any of these trades may grow into swing and either direction is plausible due to the sidestepping this pair is doing.

EUR/USD: Holding low. The trend short is still intact.  Your Long term is still short but a little shallow, you have a Mid Term that is a Fresh cross without stability and a day and 720 that are a little overextended.  The thing about this one is that it isn't retracing much at all on this drop so simply realize that the trend is present and keep opportunities tight start super active and active stretch only if profit continues to increase.

USD/CHF: Long term is positive but very converged.  Mid term is a Fresh Cross/Alligator mouth just like the EUR/USD but of course to the long side.  Short term and 720 both overextended as well.  Please approach the trend in a super active/active mindset.

USD/JPY: This one is all mixed up on the bigger lights.  I would use the 180 as a key light and right now it is trying to pop up.  If it is allowed to push higher it might be an opportunity for the USD to play catch up in this pair. The caution flag for this one for me is the Short term day chart as you are rather weak at the moment and already 3 days in.  Don't demand a swing to the long side...active perspective.  However, if a failure starts to occur and you have short side charts/strength you might be able to get a day 0 into day 1 swing out of the deal.

AUD/USD: Short term day range broke down a bit for us which is what we've been wanting and watching for the last few days.  The Short term and 720 are looking a little weak due to a healthy retracement after massive overextension on the 180.  The retracement was healthy which means if you find solid short side charts you may be able to stretch an active trade a little bit farther.  Keep an eye out though...if we can't break down the 0.9075 level then we may see a long side trend reversal on the 180.

USD/CAD: We talked about the prep for long side opportunity on this one in a blog at the beginning of the week and it delivered and just kept going.  An overextended 720 is causing the day to be lackluster.  Due to overextenstions I wouldn't put my mindset in Swing trade mode, but the short retracement we've already seen could enable some nice actives to the long side.

Those are your majors!!

Wishing you all the PIPs you can handle!

See you tonight on Late Nights with Lindsay...don't forget...only two more shows and then we're moving back to the daylight! :)

Lindsay

Yesterday I gave you a heads up on Short side potential for the AUD/USD, Long side potential for the USD/CHF, and swing style break for the EUR/USD.  If you were with me last night/early this morning on Late Nights with Lindsay then you were definitely prepared for the AUD/USD short and we watched the beginning of the USD strong swing for the EUR/USD and USD/CHF.

Tonight it took only 2 minutes for the EUR/USD to fail almost 100 PIPs!! The markets went nuts. It's been rather slow since then, but we definitely have something to watch with USD strength now rejuvenating its interest.

Watch the USD/JPY tonight as it only has a daily range thus far of 19 PIPs compared to many others that have already achieved over 100 thanks to those 2 minutes.

The CAD/JPY is worth watching as it has a wedge on the 720 Minute light.

The EUR/GBP is massively overextended on the 720 and Short term day.  Trend is still intact, but you may be aware potential retracement in the next couple of days.

The GBP is trying to hold its strength when compared to the failure of most currencies against the USD.  The 720 at this time is quite shallow, which could allow for additional rally on the part of the GBP.  However it is all up to the Day...pay attention to your range on the Short Term chart.

We'll talk more detail tonight on Late Nights with Lindsay...see you there!

Lindsay

Alright folks,

The GBP/USD has popped to the upside a little early tonight, but it did just what I talked about yesterday.  It was a really nice opportunity for a long side play and it came to you earlier this evening.  A little more than half of the daily ATR has already been met on this pair.  The Long term still hasn't budged but the Mid term, Short term and 720 have renewed their strength to the long side.  For the remainder of the night into tomorrow if the trend stays intact, please look for super active and active opportunities.  I would not be much in favor of short term plays counter trend, but you may not have a huge amount of PIP potential to the long side either.  If charts show up please start super active and grow as the market allows.

EUR/USD: The larger lights are very much undecided.  This could break into a gorgeous swing trade in either direction.  The key light is going to be the 180 on this one.  This pair is waiting for a solid move to establish its trend.  Please don't "guess" at which direction it should go.  Wait for momentum and direction on this one.

USD/CHF: This one is also indecisive.  I think it would be a nice looking swing long setup but the 180 gives cause for pause as it pulled back in the last 24 hours.  As with the EUR/USD, use caution and look for solid charts.

USD/JPY: The trend here as of late has been to the short side and the 180 looks like it may break down, but don't start without it.  Your key light is the wedge formation on the 180.  Use Forex Tracker to set alarms so that you don't miss this one when it breaks.  Even though I am partial to the short side it could very easily give you a swing trade to either side so set alarms high and low and wait for this daily sidewinder to pick a direction.

AUD/USD: Speaking of sidewinders...this one beats all.  Look at the day chart if you don't believe me.  I think it's a really pretty setup to the short side, but once again you will need stellar charts to find your entry.  Use Tracker to help you get set up appropriately.

USD/CAD: This one still has a short side trend on the long and mid term charts but once you get to the Short term and 720 it looks like it's losing steam.  Steel yourselves for a potential retracement to the long side.  If you are in longer term position, pay close attention should this come to fruition.

Alright folks!

That's a heads up on the majors tonight.  See you later on Late Nights with Lindsay

Wishing you all the PIPs you can handle!

Lindsay

First off, be careful if you don't see a lot of momentum in the marketplace.

Other than that, here's a rundown of your majors:

GBP/USD: This one has a great setup if you experience USD weakness or GBP strength.  Your Long term doesn't help you but your Mid term chart is still positive and you Short term day and 720 minute light have failed enough to offer a nice rejoining of the trend with day 0 into day 1 swing trade potential in trend.  Keep an eye on the 60 minute light and the 180 minute light.

EUR/USD: Your short side trend on this one is a bit extended.  Keep an eye on the 180 for possible retracement.  If you continue to find opportunity to the short side please keep your profit targets tight.

USD/CHF: USD strength has been nice to this pair, but it seems to be losing a little steam.  My preference on this one would be short side scalps, but of course that will depend entirely on what the market gives you.

USD/JPY: This one is all mixed up, so I don't care which way you trade it.  Either direction will need momentum to carry and the key light for me on this one is the 180.  It is building a big of a wedge and you will want to catch the break.  Evaluate placing Support and Resistance alarms in Forex Tracker to let you know when it is making an attempt.

AUD/USD: All of your charts are sideways on this one.  For me the key light will be the overextended 180.  If we could get a long side opportunity you might be abe to get a swing trade out of it.  Just be aware of all of the sideways charts and don't ask for too much...take what the market gives you.

USD/CAD: Large charts are mixed.  Key lights are the 720 which is a little extended to the long side and the 180.  This could truly be traded either direction.  You have to wait on the 180 for direction.

Wishing you all the PIPs you can handle!

Lindsay

CAUTION! CAUTION! CAUTION!

I'm not sure if your software is doing this, but mine is regardless of shutting down and restarting.  It appears that the High, Low, Range fields are not populating appropriately.  This appears to be skewing at least the Short Term day charts.  Considering that tomorrow is a US holiday, you may want to wait for later to see if the software repairs the data or you may wish to wait until tomorrow night after the US session to evaluate opportunities.  Again, the choice is obviously yours, but I wanted to give you a heads up to ensure that you are aware of the situation.

Also, I received an e-mail that instructed me that we will not have a late night/Monday early morning show tonight.  I will not be there for you tonight but we will be back at it tomorrow night.

If the data resolves itself then I might write a blog tonight, but if it does not then I do not want to operate off of errant data.

All my best,

Lindsay