Congratulations to Hina for winning the Dell laptop in our recent competition.
Chart courtesy of Advanced Get.
Don't forget to get your daily forex analysis at www.fxcps.com/blog and www.fxcps.co.uk/blog
Anne Chapman
Currency Analyst
EUR USD
January 13, 2009
January 05, 2009
Cable Level
Happy New Year forex traders.
Welcome back for another week of trading after the christmas break. No sooner did the new year start when it seemed like christmas day all over again. Profits were gift wrapped on the Euro and the Cable and handed over to us. Almost 300 pips across both pairs in less than an hour. Each of you who have come through our mentoring should have picked up plenty of pips this morning using our techniques before you even got to your desk in your office.
The GBPUSD is at a support level 1.45 and if we breach this the next major support zone is 1.40 so watch this pair. Cable is deeply oversold so we can't be too far from a retracement but all of you from the webinars will be aware the rules on that.
I would like to remind all the Dynamic Trader webinar attendees of the new state of the art laptop competition so please remember to check your emails.
In the coming weeks we will be taking up a new activity. As most of you who know us will be aware we recently joined the worlds largest supercar club which is nothing short of amazing fun. Driving these cars is just so exciting and thanks to a couple of friends for the recommendation. Well, for 2009 and starting in the next few weeks we have decided to take up rally driving and also the services of Stig's aquaintance so we can learn properly. We also bought a Honda Type R a few weeks ago for our training period. If all goes well we will put an order through for a Nissan GTR solely for the use of race track driving then I am sure Javid will ask me to put more pictures up for the dynamic trader car enthusiasts. Below is the Nissan GTR we had a few weeks ago.
I hope you all managed some well deserved time off and now back to the world of financial freedom otherwise known as the currency markets.
Remember to read the updates on both www.fxcps.com and www.fxcps.co.uk which for those of you who are unaware are two different websites with different anaysis.
Wishing you all a prosperous 2009 and all the success in your curency trading.
Last of all I want to thank two very special people who have given us a late christmas present. Later next month I will be putting up some pictures from our trip to Iceland which has been organised by Ash and Bijal and we will be off to early next month. Very much looking forward to this trip and thank you both again.
Remember to read the updates on both www.fxcps.com and www.fxcps.co.uk which for those of you who are unaware are two different websites with different anaysis.
Wishing you all a prosperous 2009 and all the success in your curency trading.
Last of all I want to thank two very special people who have given us a late christmas present. Later next month I will be putting up some pictures from our trip to Iceland which has been organised by Ash and Bijal and we will be off to early next month. Very much looking forward to this trip and thank you both again.
December 07, 2008
Euro Dollar Consolidates
Hello forex traders,
As I wont have the time Monday morning to update this forex blog I decided to take a few minutes to do a forex update Sunday morning.
I would like to look at the Euro Dollar daily chart and what is going on with this pair. Since it's Doji all time high of July 15th 2008 this pair reversed and stepped on the gas downhill. It stopped for a breather on the way and and ended in a double top before continuing it's second leg and then found support at 1.2500 zone. From October 28th it has consolidated and the range bound movement had created a squeeze in the form of a triangle. Now the chart is beginning to show encouraging signs of paying out.
The Euro Dollar is deeply oversold (not that this is a sign of a reversal as we all know it could continue it's downtrend) but it does has multiple support points. Those who have done Javid's one to one mentoring or the mentoring webinars will see an opportnity for a profit soon.
Chart courtesy of Advanced Get. Data from eSignal.
Good dynamic trading...
Anne Chapman
Currency Analyst
November 04, 2008
Euro Setting Up
Good morning dynamic traders.
We are close to a set up on the Euro Dollar one way or another. In the near term this pair will be giving out further profits either through a 123886 or perhaps a confirmaed BOB. As always a confluence of events is required then wait for the signal before pulling the trigger.
The Advanced Get chart below is of the Euro Dollar daily and although not shown the Cable has a similar set up without the MACD.
We are away and should be back sometime next week so my next update will be then. In the meantime please read Javid's blog for daily updates. You can also read Javid's other forex blog www.fxcps.co.uk
Good fx trading dynamic traders.
Anne Chapman
Currency Analyst
August 28, 2008
Euro Supported
The Euro Dollar has a support level which has produced a minor bounce. As mentioned previously on Javid's blog the Euro may find support and bounce or travel sideways which is quite normal after a major move. Every big move tends to have consolidation before a continuation or reversal. If the Euro Dollar continues then we will see a breakdown of the support level.
There are at least two methods of making money on a move like the Euro has done from the all time high. One is two take out a long term trade and manage the positions while riding out minor reversals. The other is to use shorter term tehnical analysis on shorter time frames and get the minor reversals including the longer term trends.
Right now on the Euro, our model highlighted a long position and a breakdown of the support zone could provide the short continuation. However, if we get a 123 786 with evidence from our supporting indicators then we could see a reversal in place. That said, it is always easier to trade with the trend and right now the trend is down. Trend trading will provide less stress and usually bigger rewards.
My next update will be a the strategy I mentioned last week.
Until then, good dynamic trading.
Forex Analyst
Anne Chapman
August 07, 2008
Euro still rangeing
Hello Dynamic Traders.
The Euro Dollar is still in a range and I have added a chart to show you. A BOB below 1.53 zone and then we should be concerned for further possible downside moves. A pullback is likely at some point and measuring the pullback could determine what is next on the Anti Dollar agenda.
Daily Euro Dollar Advanced Get chart below.
Good trading
FX Analyst
Anne Chapman
July 28, 2008
Euro Congestion Zones
Good morning Dynamic Traders
We are looking at the Euro Dollar chart this morning and identifying the trading cycle on this pair. Below is a weekly chart and the areas highlighted in green are area where this pair has previously found congestion. Notice the areas of congestion are at the big figures and then a breakout took place and a continuation to the upside.
Where the pair is right now is a congesion zone. This is where swing traders may choose to stand aside and wait for a trading opportunity. Traders can still trade this pair on a shorter term basis but this requires analysis on smaller time frames as trends will be more obvious.
A support from the trendline and also the previous double bottom will often act as a spring board should the price reach those levels. For a continuation to the upside we need to break the all time high shown in the green zone.
Forex chart below courtesy of Advanced Get. Data is provided by eSignal.
Further forex analysis at www.fxcps.com
Forex Analyst
Anne Chapman
December 17, 2007
Euro Bounce
We may see a bounce on the Euro today as we are approcahing a fib level of support. The chart below shows that. The overall trend is down so the smart thing to do is to go with the trend. To do that if we get a bounce today, watch for a candle reversal and fib level at the top of the bounce before we see a continuation of the trend down. If it breaks all the fib levels upwards then we may see what may be more than just a bounce but a possible reversal.
Chart courtesy of Advanced GET. Data provided by eSignal.
December 10, 2007
Euro Rally
As you can see we had a downtrend on the Euro for 9 days and then had a reversal candle. Since the candle the Euro has headed north. Watch to see if it does a u-turn at the fib levels shown on the chart. If it does then look for an appropriate entry to short. If it breaks through the fib levels then we may see a continuation of strength in the current direction. Either way, what we want is a confuence of events so be patient and when and if we get them we can take the appropriate action by putting the odds in our favour.
The chart below is a daily chart and on the chart itself you can see my notes for the weekly chart as well.
Anne Chapman
Chart courtesy of Advanced Get. Data provided by eSignal.
December 03, 2007
Bearish Euro
On the theme of the Dollar strength (mentioned on previous post), the Euro Dollar seems to be behaving slightly bearish at the moment. The CoT new longs have been cut back and we had resistance at 1.50 which seems to have held. Add this to the MACD divergence since the beginning of 2006 we may well see the Euro running out of steam. However, don't just short the Euro Dollar just yet, look for some breaks of support (like the low of the last two days) or maybe a close beyong the Regression Trend Channel, then perhaps look for an entry point.
If we are indeed heading down then how far will we go?
For the answer to this question I would turn to the fibs. First major fib level support is around 1.4135 which is 38.2%. Right now that support is 500 or so pips away.
Javid Shaik & Anne Chapman
Chart courtesy of Advanced Get. Data provided by eSignal.
