Quick morning Forex Review

[Henry Green]

Big news overnight that the BOJ are going to have to implement new easing measures as they are not going to hit their inflation target- reversing the tapering decision that had started the move down from 123.50- New measures next month will see negative rates- Japan are struggling- USDJPY back to these highs and higher.

EURUSD- Back up at the highs so must assume its a sell up here- look for pullback this morning but i like it down to 1.0880 at least- 1.0840/20 and 1.0780 are next levels
GBPUSD- Nice close yesterday- 1.4480 is the target after pullback
USDJPY- Await pullback- next week will be a good one for trading the JPY
USDCAD- looks like there is one more push lower in this especially if oil rally to its first target for today of 36.50- this will see USDCAD hit the target of 1.3880
AUDUSD- has one push higher but has not retraced to the 38 so air on the side of caution- rejection at current levels could see a pullback to 0.7030 area.
NZDSD- At the top of its range so looking for selling opportunities untill it shows me its a breakout market- look for this to form a lower 15m high and then roll over.

 

[Henry Green]

Feb 2nd

Interesting day yesterday, overall pretty sideways, Cable rallied significantly and the JPY came off a little. All set up pretty nicely for today

EURUSD- Looking for this back at the top of its range in and around1.0950 and will then definitely be a seller and i think it gets there today- EUR strength today i feel
GBPUSD- Key zone is the pullback below the figure- if it can hold above 1.4350 then we could see a good rally in cable- 1.4560 is the D
USDJPY- ~Just a pull back- D has been hit on the downside so now look for rally- if this is absent then a next swing down gives 119.50 so look to buy around here.
USDCAD- I like it to have one more leg down- through the counter trendline i will definitely sell it again looking to trade down to 1.3870
AUDUSD- Ideally would be 0.7030 and then rally to 0.7180
NZDUSD- Top of range now, certainly looking for a sell up here- i dont think this breaks out- beware of GDT

 

[Henry Green]

Feb 3rd

EURUSD- Pipped into the sell zone yesterday but has since made another higher low- look to 1.0950 as key sell zone! I will certainly be selling it up here
GBPUSD- Looks like it wants to rally- 1.45 i think is a good target- nicely supported down at 1.4340 area
USDJPY- Is at the D, PMA and a the 200 60m Hourly EMA- market should hold here- i am long and will add to this all the way up
USDCAD- Looking for a bounce at 65 and will ideally be looking for a spike above the figure to sell this- this lines up nicely with the Fibs
AUDUSD- Went a little deeper than expected and the 60m trendline break isnt ideal but i still feel this rallies to the levels previously spoken about- Ideally today would be flat and then the rally is on tomorrow with 0.7180 the target
NZDUSD- Top of the range- this could sell off today. A blip above the figure would be the perfect entry.

 

[Henry Green]

Feb 4th

I took i small stop out yesterday as i was not expecting that break in the EURUSD- this was just a clear out i believe and i will certainly be looking for it to trade back into the range today or tomorrow
EURUSD- Looks like it will pull back today- i favour a sell through 70 down to the 1.10 figure
GBPUSD- 1.4680 topside target will either be a quick move up in which case i will look for the sell or a deeper pullback- down towards 1.4340 which is the buy zone
USDJPY- Dont like this now- waiting for confirmation as to its direction- i think this is in unknown territory
USDCAD- Has a bit of space on the daily- If it continues quickly on today- 1.3640 is good buy zone otherwise looking for shorts around 1.3920
AUDUSD- Got up to the 0.7180 target previously mentioned- now we can expect a pullback- previous highs look like an obvious target
NZDUSD- Looking for this to pullback as well- 0.6590 the target on the downside but could go as deep as 0.6550

 

[Henry Green]

Feb 5th

Non Far Expected: 189K
Unemployment: 5%

EURUSD- Nice breakout and should complete the Fib on the topside- target is 1.1270- i favour this long on a bad non farm print
GBPUSD- Weakest daily close out of all of the majors yesterday- Pull back complete so there is no short set up for me at the moment- potentially looking to play pound weakness in other currency
USDJPY- Found good support down here but looks strong- 115.90 the D on the downside- must take out 116.40 confidently first though
USDCAD- Past market angle in- over extended to the downside and also finds good support here- trade back up to 1.39 is a good buy then reverse trade i feel
AUDUSD and NZDUSD both look like they could roll over- especially NZDUSD of which i have a short bias- if i could map it perfectly i would say i pullback now into 0.6710 sell off to 0.66500 small bounce to 0.6660 and then sell off down to the 0.66 short target.

 

[arigoldman]

Good info!

 

[fxstrategist]

Good post. Very helpful.

 

[Henry Green]

Feb 9th

EURUSD- In no mans land at the moment and showing no signs that it wants to sell off yet- i think the next key level higher is 1.1275 and a good sell zone
GBPUSD- 1.44 key level- if we get close below here i think the sell is obvious- otherwise looking for a bounce and we could see it test the 38 and 1.47 properly.
USDJPY- Huge selling pressure- we are at the 1.27 so i am expecting a pullback- looking for 1.1630 if higher low is made- 15m set up for me on this one
USDCAD- Rally looks to be fading and coming up to key daily Past market angle- looking for rejection at 1.40 area
AUDUSD- Looks toppy- i think this one could roll over- certainly doesnt look ready to go bid yet. Past market angle in and looking for 0.6960 as the target for today
NZDUSD- Maybe has one more leg down- key 60m counter trend line
comes in around 0.6550 so watch for this
Another one to note- EURGBP- this is right at the top of its daily range- we have hit a topside D- could now sell off- i would be selling this im just not sure about EURUSD being asked.

 

[Henry Green]

Feb 10th

EURUSD- Is at the 60m and Daily D so i think we pullback from here- The first target is 1.1245 then 1.1215. Looking to sell more if it rallies into 1.14 but through here its clear up to 1.15
GBPUSD- Direction isnt the clearest with this- i think it looks like it wants to take on its outer trendline- It did not like 1.4400 level after having a proper go at going through and we are now 100 pips higher.
USDJPY- Definitely a buyer down at 1.1430- stop at 1.1390 area- if it closes through 1.1430 i dont want it anymore though- 1.1630 target
USDCAD- One more swing up is my preference- 1.4040 definitely a good selling opportunity
AUDUSD and NZDUSD are not clear at all- both strong rejections from their downsides and as such the long must be taken seriously- im going to let this market show me for a day what it wants to do.

 

[Henry Green]

Feb 11th

Dollar was weakened yesterday by Dovish Yellen tone in the Q&A that followed the testimony- went with my approach of closing out all positions before a speaker i was long USDJPY which would have been a heavy loss.

EURUSD- Looks toppy- may have another push down to the 90EMA before rallying again- 1.14 the target if it breaks upwards
GBPUSD- 1.4630 is the obvious level if this rally's- so maybe a first Fib push up to 1.4600 before bouncing- sideways and not overly clear market
USDJPY- Huge push down yesterday- the level we are at now is a 1.27 so a pull back could lead us to 1.1430- however the D looks likely if another lower high is made and this is at 1.1140 which is a likely target
USDCAD- Daily fibs say higher but i think this could roll over hear- ill be looking for a 15m set up and a close below my 60m PMA before selling this- otherwise there is nothing to say this wont rally with 1.4040 the sell zone
AUDUSD and NZDUSD are very choppy and are not clear at all- i will be staying away from these

Therefore- maybe strong Yen and Canadian Dollar today- maybe match these with the EURO, and the commodity currencies!

Happy Trading
Henry

 

[Henry Green]

Feb 15th

EURUSD- 1.1150 looks like a really good level on the short side and i will be selling this through my past market angle- must break 200 60m MA to do this though and retest of this is probably a good entry
GBPUSD- Pretty choppy at the moment but certainly favouring the long side- 1.4690 i feel still has to be hit and is my longside target.
USDJPY- Looks pretty bullish but has done alot already today- i will be finding a past market angle to sell through especially if we get back towards 115.50
USDCAD- Wait for pull back but i like the short side of this- i think there is substantial room for this one once the mentioned levels in the video are cleared
AUDUSD- Still very messy but i think at 0.7300 hit is highly probable- wait for 72 to be cleared first though
NZDUSD- Choppy will not be looking for anything in the kiwi today.

Happy Trading
Henry

 

[Henry Green]

Feb 16th

EURUSD- May have one more push down to the low 1.11's but then i think it bounces- The 38 of the daily move up is here so potentially a good buying zone- most likely to be an indecision day
GBPUSD- Sideways- Towards the bottom of the range- a break through 1.4380 is a sell but i still favour the long side so will be a buyer down here should i get an entry
USDJPY- Looks heavy and is due a pullback- i think this could sell off today- and through 114 the target is 1.1348
USDCAD- I think this goes sideways this morning and then sells off this afternoon with 1.3715 my target on the short side- not interested in longs at the moment
AUDUSD and NZDUSD are both at the extremities of their ranges and so will be looking to buy NZD and sell AUD should they give me an entry- this could obviously lead to a good sell in AUDNZD.

Happy Trading
Henry

 

[Henry Green]

Feb 17th

EURUSD- If it breaks through my past market angle on the topside then i will certainly be buying the EURO and its crosses today- should it hold i think once again it opens up the short side.
GBPUSD- Very tight overnight range- it may false break lower and then rally- completing the pullback of the Fib which would take it to 1.4373. I have a good daily level in at 1.4260 so beware
USDJPY- Looks heavy again but is in the buy zone of the retracement- i played the fade back to the 38 yesterday but we could see a dollaryen rally today and im looking for an angle to buy through
USDCAD- Sideways- let this market break out before playing- bang in the middle of its range at the moment and im not interested in it
AUDUSD- Again pretty sideways- i think it clears 0.7070 and takes on the lows however but dont try to run your profits on the short side in this as i think once again it will bounce at the lows
NZDUSD- Yesterday could be the breakout in the NZDUSD so im looking for the short side. Pullback was shallow so this could be a fast move to the short side so i will be going tighter with my stops should i get a valid entry short signal.

 

[Henry Green]

Feb 23rd

EURUSD hit the D to the pip at 1.10 and has now retraced some of the move- the exact sell zone hasnt been reached and we a re running into good daily support down here as well- favour the short side still but be wary- 1.0960 first target
GBPUSD- is in free fall and every opportunity to get into this short at a good price should be taken- i will be looking for good pullbacks to sell this and then add on further confirmation on the way down
USDJPY- again looks short and my 1.1130 target remains. 1.1160 is daily level so expect buyers here
USDCAD- could have another leg down today but the market isnt moving as quickly as it was before so potentially entering ranging period- looking at 1.38 as a good sell zone and still favouring the short side. 60m outer trendline is the one to watch for
AUDUSD popped through yesterday and as such we can now target the higher levels- this is in the middle of nowhere and i would prefer to be a buyer at 0.7160- we havent cleared the pas 60m high so we could see sellers step in at the current price- the intermediary range has been broken but potentially not the longer term one.
NZDUSD had a good rally yesterday but is also now at the top of its range- both are potentially short for today.

 

[Henry Green]

Feb 24th

EURUSD not the most bearish day yesterday and waited all day for my CT line to break which never occurred- a nice higher low and a close through 1.1025 would be a buy for me and i would be looking to buy that up to 1.1120 as my first target- however a bearish close through my current TL is a sell with 1.0940 the next level lower.
GBPUSD- I have this as a good zone down here and a few things point to a rally back towards 1.4090- again a 15m higher low and a close through 1.3985 would be a small buy position for me adding through the figure and 1.4030
USDJPY- move is slowing and hourly D has been hit so expect a pull back to at least 112.30- this could be even larger however as this market likes to test the 8DEMA which is at 112.90
USDCAD- Looks like this now could be a confident move upwards- 1.3660 has held nicely several times now and a move higher may be on the cars- Custom MA needs to be broken but i think a 1.3900 first target should this go bid is a good one-
AUD and NZDUSD both now look lower having respected there ranges- Selling Aussie through 0.7160 and the NZDUSD after a pullback with a target of 0.6560.

 

[Henry Green]

Feb 26th

EURUSD- 1.1040 is a good buying zone for me- any rejection in here i will look to be long- IHS pattern on the 60m gives a target of 1.1120 which is a daily level and a Fib D
GBPUSD- Premature sell for me yesterday but survived the rally- this market is in free fall and the selling momentum should return- i like 1.3830 as a target now, potentially with a spike through to the figure. More confirmation needed on the short side for further selling
USDJPY- Good day yesterday but i like it where it is now as a short-its tested the daily 8MA and failed once more- i think through 1.1250 stop 1.1330 target 111.20 however not a massive fan of selling yesterdays bullish close
USDCAD- Hit 1.35! The D on the 60m to the Pip. Should pullback but the momentum to the downside was so big that you must be looking for further selling. Through 1.3520 target 1.3430 which is my next level of support- no reason it should stop here in the middle of nowhere- pullback is deep to 1.3710 should it rally.
AUD and NZD again are sideways- particularly the Aussie- im staying well away- i think there are a lot of opps elsewhere!

 

[Henry Green]

March 1st

EURUSD- Few reasons why this should bounce here- 1.0970 is my longside target. However 15m CT break will be short signal and 1.0820 taken on- Higher low will signal buy through the highs
GBPUSD- Sense the up move is fading and very good prices are to be had for shorts- moving at the same angle as last time- let it take yesterdays high then sell this- 1.3800 is still my target. Lower high sell through the lows is what im waiting for.
USDJPY- Through aggressive angle now holding on conservative- pressure is on the short side so looking to sell this 112 t1
USDCAD- Await box breakout either side- Short side target 1.3415 and long side 1.3630.
AUD and NZD are both sideways still nothing for me to trade in these pairs against the dollar.

 

[Henry Green]

March 3rd

EURUSD- Down to 1.0820 and has held nicely down here. Could roll over quickly and push down to 1.08 or 1.0790 but i would expect a responce at 1.0820 with a top side target back at 1.0880
GBPUSD- IHS on the 60m timeframe gives an MPO of 1.4150- Fib pullback say 1.4180 so i think somewhere in this zone is where it will fail- this would howver take the downfib out which would be very suprising in such a quick move down.
USDJPY- Sideways and very choppy- i will be looking for shorts at 114.80 should it get there.
USDCAD- Big indecision rejection yesterday. Through 1.3380 is a quick move down and i expect this to test 1.33 very quickly
AUDUSD- May have run out of topside life- the D is now complete on the daily timeframe 0.7340 is a great sell zone and one im waiting for
NZDUSD- Choppy as usual, staying well away!