The Australian Dollar Swiss Franc.

Good afternoon Dynamic Traders,

Todays chart is of the AUDCHF on the daily timeframe.

As can be seen from the chart below price action today has broken the recent high resistance area but has not closed above yet as todays bar is still in progress, which did also tag the '00' figure.

This is looking bullish with the MACD signal lines crossing up and GetStochastics having the false bars to the upside.

However looking at the higher timeframe chart, price has been hanging around the V.I. of late although it is standing above it on this weeks bar with strength in the move.

The daily chart does have all trends up and with this being your friend a possible long opportunity is on the cards and so you just need to plan your entry, but whilst doing this take into account the fibonacci extension, figure area and divergence on the MACD, and should the reversal happen trade accordingly.

As always please ensure to do your own analysis before taking any trades.

I am possibly not going to be able to update tomorrow due to an appointment which I have and with Friday being NFP I will not be taking any new positions and so if there is no posting tomorrow the next update will be next week, and so all have a great weekend.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

The Euro Australian Dollar.

Good evening Dynamic Traders,

Tonights chart is of the EURAUD on the daily timeframe.

Todays price action is giving a short signal, but I am using a little caution here as it currently stands at a fibonacci cluster reversal area, together with a good '00' figure just south which is also in close proximity to a quite strong former R/S zone area.

There are also two kinds of convergences going on with the sub chart indicator over the longer and shorter term and varying timeframes.

I am going to wait a little longer on this pair for price to show its hand a little more but for the more risk adverse of you, you may wish to take the aggresive stance, as all trends are down and GetStochastics is showing the false bars to the downside.

As always please ensure to do your own analysis before taking any trades.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

The Euro British Pound.

Good evening Dynamic Traders,

Tonights chart to keep a close eye on is the EURGBP on the daily timeframe.

Todays price action has produced a nice doji candle at the time of writing which indicates indecision in this pair.

Also to tie in with this, is that since the middle of June price has been going up but not taken out the DT of January to March, and price is currently standing at a fibonacci cluster and figure area together with an OB RSI indicator.

Since the trend is up for the past three months and as you know the trend is your friend, I am awaiting further confirmation with other confluences before taking a short entry as I am expecting some sort of reversal/retrace, as strength does seem to be failing in this pair.

However as mentioned I will be trading against the trend and so will manage very closely should I get entered.

As always please ensure to do your own analysis before taking any trades.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

The Singapore Dollar Japanese Yen.

Good afternoon Dynamic Traders,

I am going to alter my post timings a little to try to account for or work better with the end of day, and so with that in mind I am posting this afternoon to try and let anyone reading today be able to analyse the chart for themselves ready for tomorrow.

The image below is of the SGDJPY on the daily timeframe, and after the recent Dynamic Trader tuitoring that I know many of you had, you will know why I am showing this chart.

As can be seen from the chart below, the big fall from the second half of last year has resulted in a bounce back up from the beginning of this year to a position between breather levels and making a triple top, and price has broken down now below the trendline and is also below the V.I.

Other confluences are present for the shorting side, but caution maybe warranted until the low of July is passed approximately 70 pips south as the shorter term trend is down but the longer is up

As always please ensure to do your own analysis before taking any trades.

Charts courtesy of AdvancedGet.

Good Luck.

Clayton Farnworth.

The Pound Aussie Dollar.

Good morning Dynamic Traders,

Firstly may I apologise for the lack of updates, but my internet went down and I have been trying to sort it out with much frustration which obviously had the knock on effect of not being able to trade.

However that aside I would like to give a big welcome to Sonia on the sister site and wish her every success.

With not being able to view any charts or attend the recent webinars I am just trying to familiarise myself with the recent price action in the markets and that is why I am going to review a trade that I know many of you are in, the GBPAUD.

Ensure you are managing this trade correctly as good profits have been had on this pair but be sure to take account of confluences happening here.

Across different timeframes there are convergences happening with the MACD indicator both longer and shorter term as shown on the chart and although the major support of 1996 has been breached which does indicate further weakness these convergences are implying at least a pullback may happen in the near future.

Also there are the '000' figures below and there are fibonacci clusters in the vacinity with these, so ensure you are constantly monitoring your trades with the rules to ensure your profits are not given back to the market.

As always, please ensure to do your own analysis before entering any trades.

Have a great weekend.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

EURGBP

Good Evening / Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = EURGBP : Day Chart (Posted Below)

This post was written at 0900hrs Thursday 10/09/09, Delay due to technical problems.

I hope you are all progressing with your trading experience and managing to bag some pips from the blogs we provide for your development. Clayton has had a few IT problems over the last few days and will be back on line soon. I take this opportunity to welcome another new blogger to our ranks,Sonia Molina. She will be joining Bijal on our sister site at www.fxcps.com/blog .We wish her well on next stage of her trading education.

I have noticed the EURGBP moving into a nice pattern on the DAILY timeframe and may be worth putting on your watchlist.

We have two anchor points from around a year ago to draw appropiate Support and Resistance trend lines as seen on the below chart. Added to this we have a strong support / resistance line which has been tested over 8 times in that time period. These all add up to the price being squeezed into a corner, What will happen next ?

Price is currently at the resistance line and with interest rate decision in UK today, will this have any effect on price ?

Will we get a BOB, or will we see a reversal towards support ? We do have the support line following th VI below price, forcing it higher and we have stochastics indicating a false reading and strength still in the move.

If we do get a BOB use your ESLT tools to avoid a false breakout. and as always do your own analysis before entering any trades.















Chart courtesy of Advanced Get. Data provided by eSignal.

Trade with Passion

John Maher
Forex Analyst

Follow our other blogs
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The Aussie Dollar Swiss Franc.

Good morning Dynamic Traders,

Todays chart of the AUDCHF on the daily timeframe, has been trending up since early March, and could currently be making a 123/DT formation at the previous R/S area which is in proximity to the figure area too.

Whilst doing your own analysis you will see that price is currently at the V.I. of the HTF.

The trendline shown on the daily chart below is now causing a tightening triangle and so depending on your stance you may wish to wait for the break should it occur or if you have the time to trade intraday then go to the LTF chart as a good fibonacci reversal figure has been hit which is reason to trade south when in conjunction with the varying divergences across several timeframes.

As always please ensure to do your own analysis before trading.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

The Singapore Dollar.

Good morning Dynamic Traders,

Todays chart for you to analyse is of the SGD on the daily timeframe.

Price action sees this pair back at former support which has held about three times in the past on the area of chart shown, and so as Javid says you will only be wrong once and so a punt to the upside could be in order, as a possible bounce could be seen here.

However, should a break occur to the south then further movement could be seen downwards as the overall trend is down with recent consolidation after the big move.

Get Stochastics is showing false bars at the bottom of the indicator implying a downtrend possibly in progress which we can see but there is not one developing as yet for the current price action.

Use your rules for this whichever way it should go but as always please ensure to do your own analysis before taking any trade.

Charts courtesy of AdvancedGet.

Have Fun.

Clayton Farnworth.

The Australian Dollar daily.

Good morning Dynamic Traders,

Todays chart is going 'down under' with the AUD on the daily timeframe.

Price is currently in a squeeze with the former R/S zone line and trendline and in proximity to a good figure.

It also stands at a fibonacci cluster area at present and with the divergences occuring with the MACD indicator and also the RSI( as expected), the probabilities are more in favour of a downward movement.


Wait for a break of the triangle pattern to employ your entry techniques as taught by the 'Dynamic Trader' but should a break north occur beware of false BOB's due to the news out later today and tomorrow, and be sure to allow for this instance, should you decide to trade in that direction.


A break north could see the 0.9000 area challenged and although I am assuming here, my favoured direction is south for at least a retrace due to the confluences.


As always please ensure to do your own analysis before taking any trades.


Please note that I may not be able to post tomorrow.
















Charts courtesy af AdvancedGet.

Good luck.

Clayton Farnworth.

The Pound Japanese Yen review.

Good morning Dynamic Traders,

Today I thought I would review the GBPJPY from last Wednesday's post, which stood at 153.37, and was mentioned as a possible short depending on your stance.

As of the low of today, a possible quota of the 400 or so pips could have been taken, and if anyone has taken some of these then well done to you.

However if you are in this trade, and depending on your management and rules you will either have locked in some profit by now, or if you are using the 'Smart Money Edge' webinar technique, then T1 has not been tagged and so you should be managing accordingly.

The short term trend has moved into a down position today as I am writing, which is another confluence, but you should be aware that there is former support coming up and price is currently around the figure area of 150, which could cause support too.

Good luck with your trading today, and as always please ensure to do your own analysis before taking any trades.

Charts courtesy of AdvancedGet.

Have fun.

Clayton Farnworth.

The Euro Dollar.

Good afternoon Dynamic Traders,

I hope you all had an enjoyable extended weekend and are re-charged for more trading.

Todays chart of the EUR on the daily timeframe has not done much since I mentioned it about a week ago as expected, however, with news out this week direction could be given here.

This pair does look like it is running out of steam which is qualified by AdvancedGet XTL, and could well do at least a pullback in the near future, as it is coming up to a wide resistance area from where it stands at present right up to the 1.5000 figure area.

Also there is both longer and shorter term divergences occurring with the MACD indicator.

No trade is on offer as yet on this timeframe,but keep an eye on it for possible movement soon.

As always please ensure to do your own analysis before taking any trade.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.