Active traders can reap rewards in FOREX

FX markets made their long-awaited
breakout moves
from Friday through early Monday morning. Two days of consolidation
has been expected to continue direction past these 1st pull back coils. Did we
see that happen, and where might the various pairs head toward from here?

Trend View:

GBP/USD (+$10 per pip)

British Pound-USD pair broke out from its
coiled range last Friday. It has since given numerous confirmed buy signals near
7825 before lifting upwards past 7930 in the early hours of Wednesday morning.

In our weekend newsletter section, we charted
7950 ~ 8000 as the next magnetic zone of resistance. This layer has been hit,
and probably sees price action sticking in the general area for awhile.

EURUSD (+$10 per pip)

Euro-USD pair gave similar buy signals near
2265 before lifting back to recent swing highs for a retest of double-top
potential. 2350 ~ 2375 is a zone of resistance for this currency pair similar to
GBPUSD zone noted above.

USDCHF (+$8 per pip)

USD-Swiss Franc gave a plethora of sell signals near 2640 before continuing a
bit lower since. An expected consolidation of the initial launch appears to be
heading lower if price action takes out initial lows from Sunday night.

USDJPY (+$9 per pip)

USD-Yen pair gave buy signals from 114.50 ~
114.60 that worked fairly higher before coming back near initial entry once
again. 115.50 recent swing highs are the next visible upside target above.

{Price levels noted by arrows in charts above
are compiled from a number of market measurements. Over the course of time we
will see these varying levels magnetize = repel price action consistently}


FX markets are very predictable in their stair-step methodical
movement. Overall, currencies trend longer and range further in dollar value per
contract price than any other financial market over time. We’ve seen wild swings
in petroleum based commodities, and also precious metals lately. Stock index
markets have posted plodding uptrends over the past couple of years as well.
However, none can match the profit per contract value of any major FX pair over
extended periods of time.

Price moves in the FX can and often do exceed
our expectations, no matter how long we’ve traded them. Don’t be surprised if
the current directional push in various major pairs extends for several weeks to
come. FOMC, non-farm payroll report… plenty of catalysts straight ahead to
keep currency markets moving. What more could an active trader ask for?

Trade To Win

Austin P

Online video clip

open access)

Austin Passamonte is a full-time
professional trader who specializes in E-mini stock index futures, equity
options and commodity markets.

Mr. Passamonte’s trading approach uses proprietary chart patterns found on an
intraday basis. Austin trades privately in the Finger Lakes region of New York.