EURCHF bearish flag

Hello Dynamic Traders,

The Pound gained a little bit of strength today (and did not quite get to test the previous support) as there was negative Dollar news out, the American consumers are spending far less than was projected.

I would like to discuss what looks like an exciting EURCHF today.
The price on the weekly chart shows it has been following the major trend since 2007 and is coming back to retest the low created in Oct 2008, with close proximity to a Fib reversal area.

The daily chart shows a potential bearish flag formation. The price is heading towards the Fib extension golden mean which appears to cluster with the retracement reversal level indicating possible gain of pips. Today's bar has produced what could be classed as a BOB. A reason not to take the trade or to be cautious would be the MACD convergence. Utilise ESLT for a safe entry.
Please do your own analysis.














Question 3
How would the person I want to be do the thing I am about to do?

Good trading
Bijal Shah

EURCHF reversal?

Good morning Dynamic Traders,

The CADJPY head and shoulders mentioned on the 25th November post went sideways for a period of time but did complete the equivalent move down and yesterday reached a low of 73.90. This pair is still of interest but we need to wait for it to gather momentum and break previously established S/R levels before decisive action can be taken.

The EURCHF daily chart displayed below, shows signs of a reversal after getting very close to the 1.56 figure. It is worth noting the trendline support, a break of which would be a good signal.














I have also included a 60 minute chart showing another trendline and MACD adding another confluence. ESLT would be well utilised here on the BOB.















Good trading!
Bijal Shah

Read Anne's forex blog here
Read FXCPS.co.uk forex blog here
Follow Javid on Twitter
Follow Anne on Twitter

"No computer in operation today works as fast as the retina in your eye. To simulate all the data your retina processes in one second would take the world's fastest supercomputer 100 years."
Richard Swenson MD

Euro Swissy Bounce

Our previous forex analysis showed this EURCHF in a triangle formed resistance which is still in place.

The Euro Swiss franc chart shows the cross is in a range bound formation after a recent double top. Until yestersday this cross had produced approximately 200 pips before I was stopped out with a reversal at the institutional moving average. You will notice that is also not too far from the trend line support level and the figure and stochastics shows proximity to oversold territory.

So with that what is the direction of this cross in order to trade it and profit?

This cross is in a range and you know the rules of range bound activity. We will now wait for the set up to take place and let price dictate the position we will take. If the Euro Swissy deals above the resistance then apply the filter and look to enter long. If we break the trendline then a short with a filter to the next support is at 1.6000 zone is favoured.

Although this cross is in a range it is likely to provide a 100+ pips profit soon.


Daily Euro Swiss Franc Advanced Get Chart.

Below is the daily pivot points for the majors.


Source: Dynamic Trader Toolkit.


Send Analysis To a Friend

Click Here For FREE FXCPS Update Notifications!


Good trading.

Forex Analyst
Javid Shaik

UK Bank To Announce Losses

Good morning Dynamic Traders.

The better than expected NFP sent the Dollar higher against some majors on Friday.

The Strerling has dived against the Dollar at the open of the European session this morning based on rumours that a major bank is due to announce a big loss here in the UK. The Dollar is fairly steady at this point against the other currencies. At the time of this update the Cable is at session lows.

The daily Euro Swissy is in a triangle formation below. There is a set up here that is likely to make some good profits.


Advanced Get chart. Data from ESignal. Read more...

Look out for US ISM and the Fed's rate decision tomorrow and on Thursday's the BoE rate decision. These will be market movers and volatility will be high.

Send This Analysis To a Friend

Click Here For FREE FXCPS Update Notifications!




Today's pivots are courtesy of Ash Shah.

Good trading.

Forex Analyst
Javid Shaik