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Nov
09/09
Weekly Currency Outlook
Last Updated on Monday, 9 November 2009 01:52
Written by Derek Frey
Monday, November 9th, 2009

We are still seeing the Dollar struggle to fully round this next bend but we continue to see more upside opportunity in dollars than downside risk. Therefore we continue to favor buying dips as it has paid out over 5000 pips for us since June 1st of this year. We expect to see many dips to buy this week so be ready for some entries, many of them will be either fading new highs or buying new lows so be warned it will not be comfortable…at first…but in time it will look like genius.

EUR/USD:

This pair continues to present medium term entry opportunities as it trades north of 1.50. We are looking for spikes early this week to sell into. Look for the herd to chase this thing for a bit so we could see spikes into at least 1.51-1.52.

GBP/USD:

We are happy sellers this week near the 1.68 handle and expect to have a few opportunities above that to sell into. We could see some squeeze potential up to 1.70 but all of those wicks are just that much more of a sell. We continue to see the BOE as being too loose and really the lapdog of the FOMC so until that changes we want to sell strength here as it is temporary at best!

USD/CHF:

Parity remains a solid support level at this time and near term we do expect it to hold.
We are looking to buy dips back towards parity over the next few weeks.

USD/JPY:

This pair continues to see wild volatility as the shift from using Yen for carry trades to Dollars continues. This pair and other crosses with the Yen will continue to see extreme periods of bi polar activity as global risk shifts away from Yen and towards Dollars.

AUD/USD:

This pair is in a bubble of its own partly due to the commodity bubble we have seen reflated this year. This will be the “canary in the coal mine”. As this pair turns back before hitting parity you will see it lead the way down just as it has lead the way up in this global ponsi scheme the central banks seem to be running.

USD/CAD:

This pair has also turned just before hitting parity. We expect to see it push back up towards 1.10 before the year is out.

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Oct
12/09
Weekly Forex Outlook
Last Updated on Monday, 12 October 2009 07:18
Written by Derek Frey
Monday, October 12th, 2009

We have seen the Dollar hammered down once again and we are now looking at some very solid longer term entry points. We start this week off with the Columbus Day holiday with some of the markets closed. We have seen markets squeeze on these low liquidity days in the past so we are keeping an eye out for extreme moves to fade early this week.

EUR/USD:

We have seen it push slightly above the 1.48 handle and while we may still see one final push through 1.50 but either way we are looking to sell into rallies. Proceed with caution because of the high risk of blow off spikes.

GBP/USD:

This pair is still under pressure and we expect that theme to continue over the medium term. For now we are standing aside but should we see rallies back into the 1.60’s we may begin to sell short again.

USD/CHF:

We are still comfortable being long this pair from around the 1.03 handle. This pair continues to be slow to turn but we are confident that in time we will see this pair push back above at least 1.05.

USD/JPY:

This pair continues to see wild volatility as the shift from using Yen for carry trades to Dollars continues. We are beginning to look for long signals but until we see solid harmonic alignment we will stand aside.

AUD/USD:

This pair has poked its head near the .90 level and we are happy sellers near that area. We still see commodities as a sell this quarter and into 2010. Near term we will begin to use spikes as short entries.

USD/CAD:

This pair has led the charge lower in the Dollar. We are now knocking on the door of parity once again. We have high probability that we will bounce before we hit parity. Near term this pair is the highest risk of the majors but keep and eye on it as a barometer of overall Dollar direction.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

WOULD YOU LIKE DEREK TO COACH YOU THROUGH

THESE TRADES IN REAL-TIME?

Click here to learn more about Forex Trading Coaching

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

Tags: , ,   |  Posted under Forex Market Updates  |  Comments  No Comments
Aug
31/09
Weekly FOREX Outlook
Last Updated on Monday, 31 August 2009 01:23
Written by Derek Frey
Monday, August 31st, 2009

I want to thank all of our subscribers for the kind words we have recieved after making over 1,600 pips in the month of August.

We are again seeing the Dollar gain strength this week and we expect that to continue as the year grinds on. We are continuing to buy dollars when they go on sale. Stocks have begun to show signs of wavering again and I suspect we will see a move back to and through 1,000 on the S&P before too long. We expect stocks to chop lower for the remainder of the year.

EUR/USD:

We are still looking to short this pair above 1.43. We do not want to chase these markets lower but rather fade into rallies as we have all summer. Continue looking at rallies as selling opportunities. We are expecting this pair to grind back into at least the mid 1.30’s before the holiday season.

GBP/USD:

This pair is also a sell on strength. I have been saying for over a year now the UK must adopt the Euro or they risk sinking into the North Sea. Hear me now and believe me later on that one.

USD/CHF:

This pair is a very attractive long below 1.07 I am happy to hold this for some time from this level.

USD/JPY:

Near term direction in this pair will be dictated by the S&P500. If we see a melt down you could see this pair spike higher even though the normal relationship has been to follow the S&P 500. With stocks at a tipping point all Yen pairs and crosses are more dangerous than normal so be warned!

AUD/USD:

This pair did resist out below .85 as we talked about last week. We are now look into sell rallies here as well.

USD/CAD:

This pair is also an attractive long below 1.09. Still looking for a move back into at least the teens.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

WOULD YOU LIKE DEREK TO COACH YOU THROUGH

THESE TRADES IN REAL-TIME?

Click here to learn more about Forex Trading Coaching

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

Tags: , , ,   |  Posted under Forex Market Updates  |  Comments  No Comments
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