Resistance Territory

Good morning Dynamic Traders. Yesterday we profited from a good trade on the USDJPY set up as mentioned on the forex analysis. The USDJPY pair is still in the resistance territory and this pair is either going to produce a breakout or breakdown.

As Dynamic Traders we will stalk this pair and then pounce when the time is right. Second guessing is no different to gambling on the markets so patience is the key here.

The EURUSD tested bids at 15520 which indicates we may see a bounce to the 15630 zone tested.

House prices fell again for the ninth month consecutively and seems to be accelerating too.

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Good trading.

Forex Analyst
Javid Shaik

USDJPY Resistance

Dynamic Traders, we have 30 pips at least on the USDJPY for a good profit right now with entry at 108.30. Look for 108 zone as the support level then scale out and manage the second lot appropriately.

This is another text book short entry as discussed on our webinars. Stop loss is minimal so great trading opportunity. In addition a 123786 or trend line break could be entry points depending on your trading style. Alternatively this is a bullish flag formation so the trade will be stopped out for a small loss.

This is a quick update for you all and is only for confirmation as I know most of you will have picked up on this already.



USDJPY 15 minute Advanced Get chart. Click for more info on Advanced Get.

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Forex Analyst
Javid Shaik

Trendline Support

Morning Dynamic Traders,

Looking at the Australian Dollar US Dollar daily chart below we can see we have a trendline support. In addition we have a fib reversal zone as well so watch this for a possible bounce. We want to see a bounce above 1.9640 for a bullish confirmation. If we have a breakdown then we could see further move down towards the areas identified as support.


Advanced Get daily chart. Data supplied by eSignal.

The Dollar sank again yesterday renewing the US financial concerns. The currency markets is looking for a direction at the moment so for short term traders this is a frustrating time. The USD is limited to a tight range keeping many professional traders on the sidelines. A Dynamic Trader has to have patience and this is the key.

Dynamic Traders don't chase trades and stand aside until the time is right to enter. Right now many scalpers and day traders will be losing money on the Euro Dollar as it is choppy intraday
and they have a necessity to trade.

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Forex Analyst
Javid Shaik

Pound Support

Good morning Dynamic Traders and welcome to another exciting week of forex trading.

I was triggered into the Pound Yen trade overnight and this morning have managed my position. At the tme of writing this the cross is sitting on the support level at the 214 zone. A breakdown could see a further downward move.

The Pound Dollar chart shows price at the trendline support level. This is an important level where price can either continue it's downward track or bounce. Watch the Euro regarding this for confirmation.


Advanced Get charts with eSignal data.

Below is a weekly chart of the Euro Dollar to show you what the uptrend looks like on this pair and where previous congestion levels are which is not dissimilar to where we are now. Now I want to make it clear, I am not saying this is a sure fire rectangle chart pattern for a move up but going by history we are in exactly the same position at the figure as we have been previously at other big figures. A breakdown here would bring weakness into the mix but until then it is time to stand aside for swing traders.



Weekly Euro Dollar Advanced Get Chart.

Our webinar Dynamic Traders should have traded the USDCHF this morning. Our previous USDCHF forex chart can be seen here and based on one of the strategies we shared with you on our webinars you will be well into profit with a risk reward of 1:5 at least. This was a text book set up and an easy trade to take profits from.

Good trading.

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Forex Analyst
Javid Shaik

Pound Yen Resistance

Hello Dynamic Traders,

Good to hear so many of you are doing so well from the forex webinars we recently had. Well done and continue to apply the same trading techniques when the opportunities come up.

I was sent an email from a friend yesterday asking for my thoughts on the GBPJPY. The weekly GBPJPY chart below shows a triangle formation and we are in proximity to the top trend line which will act as resistance. Should this have a reversal then look for the signs for a trend reversal prior to the directional change and look to take a trade.

Aggressive traders will look to pick a top and conservative traders will look to have price take them into the trade.

There is an opportunity for some good profits on this cross I think but beware it wont always do a correction when you expect it to as we all know based on fake breakouts and continuations. Put this on your watchlist for next week.


Chart courtesy of Advanced Get. Data provided by eSignal.

Next week will be very interesting. In the mean time, hope you all have a great weekend. If you are in London and visiting the Motor Show then I highly recommend going to the Honda show. It is a half hour paid event and in addition to some excellent stunt driving you get to see Asimo the humanoid.





Forex Analyst and car enthusiast
Javid Shaik

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Euro Analysis

Euro fell against the Dollar for a 12 day low yesterday. This pair is currently choppy and so if trading this at present should be done with caution.

The Euro forex analysis still shows a medium term bullish outlook and nothing has changed even though some people feel very nervous about the Euro upside. This is where the smart money differs from the dumb money. My confirmation of a change of direction is only when our system has defined it for us. Until then we stand aside and wait for the market to tip our hand.

Yesterdays EURUSD FX analysis stated to be aware of 123 786 and soon after the market failed the retest.

The GBPUSD found support at 1.9900 zone and bounced. Again we see it has poked it's head just above the 2.0000 resistance and currently trading at 2.0005 up almost 100 pips since the open of today.

Previous webinar attendees should place USDJPY into the watchlist utilizing one of the strategies we have shared with you at the appropriate time.

Good trading.

Forex Analysts
Anne Chapman & Javid Shaik

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Euro Dollar Elliott Waves

Chart courtesy of Advanced Get. Data provided by eSignal.

The daily Euro Dollar chart above shows GET Elliott waves. The Euro as mentioned on the webinar last week has bounced up and is going for a retest of the high but watch the 123 786.

For the longer term traders the AA has produced good profits which you should certainly manage if you have not done so already. This is very important now!

Yesterday the GBPUSD rejected another dip below 2.0000.

Forex Analysts
Javid Shaik & Anne Chapman

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Market Volatility

Welcome to another forex trading week!

Last week we had some memorable moments but what a bizarre 5 days it was.

On Monday crude oil went close to it's all time high taking down the Dollar at the same time.

Tuesday Bernanke's testimony gave the impression of weaker growth in the economy and rising inflation. Equities were dropping as Bernanke was talking and oil came down about $9 a barrel from yesterday but today will be remembered for the new all time high created by the Euro Dollar. The Cable produced a new high from the last 3 three and a half months.

Wednesday saw a further move down in oil which now reached £132 a barrel based on a Government report that US oil supplies had increased. The Euro started selling off against the Dollar which maybe as a result of profit taking but provide a pop and drop shorting opportunity to some traders.

Thursday saw even further decrease in oil which now closed at $130 a barrel and the Euro clawed but some losses but convincingly at all. However, it decided to rest above the support level.

Friday gave further weakness in equities at the open but closed modestly higher and oil dropped again closing at $129 a barrel.

The whole week provided volatility in both equities and the currency market. While the currency market was focussing on the Euro continuation or reversal from an all time high, the equities were concerned over Fannie Mae and Freddie Mac.


Chart courtesy of Advanced Get. Data provided by eSignal.

The daily USDCHF forex analysis above gives a good picture of what might happen with the Dollar. Those of you that were on the webinars should analyze the Swissy chart further with the techniques we have shown you.



Chart courtesy of Advanced Get. Data provided by eSignal.

The Pound Dollar chart above shows what happened since Tuesday and why. The resistance trendline was tagged causing the price to reverse. Sterling is holding at the breather level so has done well in spite of rising unemployment claims and inflation.

Lastly, Trichet suggest the Eurozone growth is likely to rebound.

Have a good trading week.

Forex Analysts
Javid Shaik & Anne Chapman

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Where now for Anti Dollar

The Euro (Anti Dollar) has been the topic of conversation for many experts in the media recently so I thought it would be a suitable topic for us to go over today.

The Euro has been in an uptrend for a long time now and many are calling for a top on this pair. Actually, many have called for a top almost weekly ever since it started it's uptrend in the first place and yet the Euro has defied these experts expectations.

So where now for the Euro? The chart below shows the technical aspect of the Euro.


Chart courtesy of Advanced Get. Data provided by eSignal.

The Euro made a fake breakout, a pop and drop then retreated to the trend line to find support. All the fib levels have held positively for further strength to the upside but watch out for the 886 zone.

We need a decisive BOB on this pair for any form of uptrend continuation can be clearly confirmed. Of course if the price breaks below the trend line does not confirm a down trend but represents short term weakness.

The outlook on the Euro Dollar has not changed and we are still bullish medium term on this pair. Short term remains to be seen and will stand aside until we have a clearer picture. We are looking for signs of further strength to the upside and all of you that I have spent time teaching forex trading should apply those principles. What we want is a retest then the Euro characteristics will become more aparent.

We have placed the USDJPY on to our watchlist and will wait for a good set up on this pair before pulling the trigger.

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Good trading.

Forex Analysts
Javid Shaik & Anne Chapman

Uncertainty in the Markets

Turn the tv on, flip over to Bloomberg and you will hear nervous comments regarding the equity markets. Open up the financial papers in today's papers and you read more fo what you have just heard. Speak with people and it is all doom and gloom. So what is happening on the currency markets? ABBA sang it perfectly. Money Money Money!

We trade the currency markets because we almost always have an opportunity to trade. In addition, a very positive reason to trade the FX markets is so we dont walk around with a glum face all day.

The currency markets give us excellent opportunities and the emails / voicemails I have received from those I have personally mentored are pocketing good profits on certain currencies right now.

The Euro Dollar triggered a sell signal on my system but I have decided to ignore it and stand aside just for the moment as although the short term may look bearish the medium term still has a bullish look about it.

While the Euro is currently clawing it's way back up against the Dollar the EURGBP weakness from the figure after a bearish engulfing is worth watching for a possible reversal to the upside or a continuation down if the formation is a flag. If the formation is a flag then use our ESLT for an entry otherwise wait for 886 on a 123.

Lastly, Bernanke has told congress that inflation is too high and the top priority is to bring it down. He has also mentioned about a possible currency intervention. It's all great fun!

Good trading.

Forex Analyst
Javid Shaik

Euro Hits New Highs

We witnessed a new high on the Euro Dollar yesterday which gave us a fake breakout. Although the Euro has retreated a further rally is expected as long as the pair can stay above the 1.5600 region. On a fundamental note, European inflation has increased to 4% which could have a bearing on this pair. In addition, crude oil also fell which certainly has an influence here.

Our open positions on the USDJPY has provided excellent profits so far and the trade has been managed. We aslo are short on the AUDJPY which also is in good profits and now managed.

Good trading.

Forex Analyst
Javid Shaik

USDJPY Outlook

This pair is producing lower highs and we are now looking for lower lows. The support at 105 are may have something to say about that though. With all that is happening is the US right now this pair should be on your watch list.

The forex analysis on the daily USDJPY is below. We are short on this currency and have managed our positions.

We are likely to see a move on this pair soon that could provide nice profits. Watch this pair.


Chart courtesy of Advanced GET. Data from eSignal.

Good trading.

Forex Analysts
Javid Shaik & Anne Chapman

Sinking Stocks

The US sinking stocks on Friday really hurt the Dollar and so pushed up the Euro. Fannie Mae and Freddie Mac are attempting to avoid catastrophe so the S&P 500 will be interesting viewing when the US opens this afternoon.

The Euro is in proximity to the previous high so a breakout or reversal is just round the corner. We could see a few hundred pips at least arriving in our pockets soon.

The Euro has rallied to a new high over the last two and a half months and looks set to continue but as we all know we need confirmation. The previous resistance will be a deterent for the continuation but for how long? Watch this pair as it is going to get very interesting.

Our view is the Dollar remains under pressure longer term.

Have a great trading week.

Forex Analyst
Javid Shaik

Swissy Yen

Anne and I spent the day yesterday at the new Porsche driving centre in Silverstone and what a great day it was. I did a quick calculation and their was about 3 million Pounds of Porsches on the track at certain times driving round and sometimes only inches form each. These were all choreographed via walkie talkie between the instructors who took us at high speed through the circuit, skid pan and the low friction corners. This was an excellent experiance and I reccomend this for those of you that are car enthusiasts although the centre does not officially open until September 2008. It is absolutely amazing to see what a Porsche can do and achieve on a race track. I really cant wait for ours to arrive now!

On to trading, the CHFJPY is in a range and looking for a breakout. This will provide profitable pips one way or another at some point. Based on our webinar training, although the emphasis is on a certain direction we still need to wait for our entry.


Chart courtesy of Advanced GET. Data provided by eSignal.

Good trading.

Forex Analyst
Javid Shaik

Bank of England Announcement

Chart courtesy of Advanced GET. Data source eSignal.

Euro Dollar looks interesting so we have provided a snapshot of a one hour chart for you.

Today we have a few news items out including Bernanke and Trichet talking. At mid day BST the BoE will anounce the interest rate statement which is widely expected to remain unchanged. It is hard to see how and why a rate increase could happen so the smart money must be on unchanged or decreased interest rate decision.

Congratulations to Adrian, Agnes and Kripa for profits from yesterdays trade.


Forex Analysts
Javid Shaik & Anne Chapman

Yen Triangle

The USDJPY has bounced up to the resistance trendline and has subsequently produced a triangle formation.

On the webinar we defined entries based on this set up. We have a good entry point here but please do your own analysis.


Chart courtesy of Advanced GET. Data provided by eSignal.

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Good luck & good trading.

Forex Analysts
Javid Shail & Anne Chapman

Forex news

The G8 summit is in progress and will continue until tomorrow. This could have a bearing on the USD. We could see movement on the major pairs as a result.

Thursday will provide us the Bank of England rate decision which is widely expected to be left unchanged. The released of this will have a bearing on the GBPUSD no doubt.


Chart courtesy of AdvancedGet. Data source eSignal.


The chart above shows a break of trend line on the 1 hour chart of the USDCHF. This is either a continuation after the flag or a fake breakout.

For those of you who followed the recent webinar, you will see the Euro Dollar do a nice easy move up for some very easy profits this morning. Not bad for less than 5 minutes analysis.

Good trading.

Forex Analysts
Javid Shaik & Anne Chapman

Dollar strength

Friday was quiet due to Independence Day in the US. Now we are back to normal trading so welcome to another trading week.

Overnight the Dollar has been gaining ground and with the USDJPY pair we are near a fib reversal point along with some other characteristics of a reversal. However, as we all know trading is not so clear cut so we want to see a reversal or breakout before entering.

The chart below shows a 1 hour Dollar Yen and points out the resistance zone.


Chart courtesy of Advanced GET. Data provided by eSignal.

Good trading

Forex Analysts
Javid Shaik & Anne Chapman

Non farm employment change

We have NFP due out one day earlier today due to tomorrow being July 4th. No new positions have been taken out. Now is the time to lock in profits and especially those of you who have taken trades we have shown on this forex blog.

The Pound Dollar made us another set of great profits yesterday. We appreciate your emails regarding the trade.

The next forex update will be on Monday.


FX Ananysts
Javid Shaik & Anne Chapman

Cable resistance

The Pound Dollar looks set for a possible reversal. A shorting opportunity with a tight stop loss on this pair is worth considering but please do your own analysis.

The chart below shows a daily time frame.


Chart courtesy of Advanced GET. Data provided by eSignal.

Good trading.

FX Analysts
Anne Chapman & Javid Shaik

Nationwide House Prices

We had an early start today with the Nationwide House Prices being released at 7am with a forecast of -1.1% and the actual was -0.9%. Month on month the average house prices in the UK have not dropped as much as was forecasted. This is a good sign for the economy but by no means a turn around.

We have PMI out at 09.30am and ISM Manufacturing Index from the US this afternoon so a fair bit of news. If you have not already done this then lock in profits on the AUDUSD and USDJPY now.

No new trades opened this morning.

Good trading.

Forex Analysts
Anne Chapman & Javid Shaik