To Get Ross' Free Forex Trade Analysis - Click Here: http://mytotalsupport.com/cpv/base.php?c=86&key=fd5d14f7ec45b14d31a944108238114b&ls=youtube&keyword=forex_strategy&ad=fUvpPQzq4ok Before I do that, we also want to take a look at the news calendar. At 8:30AM Eastern US time, about 40 minutes from the recording of this video, we have a couple of pieces of news out of the US. Durable goods and unemployment claims. So, those are a couple of pieces of data that could of course affect the currency market and the outcome of the analysis that I’m providing today, so definitely want to take note of those two pieces of news coming out. 8:30AM Eastern US time, about 40 minutes from the recording of this video. Jumping in here into the Australian versus the US Dollar [AUDUSD]. This is a trade that’s been going for a couple of days here for the AUDUSD. Took a sell all the way up here at the yellow-shaded area. Yellow-shaded area was the culmination of several different indicators. The previous triangle pattern we’ve been studying in the live, daily Trade Room. Historical resistance and whatnot. Took a sell up there into the 0.7250-level. Saw a decent amount of profit as it pushed down here underneath the orange zone, actually seeing about 100 pips of profit. The stop loss using the trade manager has been moved in to lock in 25 pips, so we can’t lose on the trade. We’ve closed some of the profit. We’ve locked in some of the profit. Can’t lose on the trade. Stop loss is right about where this little red line is right now. So, if the market does take a push back up to the yellow zone, it’s going to take us out at the remaining position for the trade. Now, if the US news comes out very positive for the US, we could see this take another turn back lower. Getting finally underneath the orange zone with an open and close sends it back down to the blue zone and we see further profit as it continues to pressure lower. So, we’ll see how that news affects the market. But another push lower, we look for it to break the orange zone. If it stays above, we might even see it back towards the yellow-shaded area today. Something else we were looking at here in the live, daily Trade Room over the past few days is this blue box on the NZDUSD. We could see the NZDUSD kind of stuck inside this little area of congestion, inside this blue box. Important to note of course long-term trend is down here for this currency pair. Take it down to the four-hour timeframe. Zoom it out just a little bit, so you could see that entire blue box. We saw an attempt to break out of it a few weeks ago. Now we’re back inside of that blue box and above the orange-shaded area. We’re watching that orange-shaded area today. If it opens and closes above it, we look for the market to continue higher. If it gets back underneath it, again, positive US data, may see this turn back underneath the orange zone and target back down towards the yellow-shaded area. Negative news of course would have the opposite reaction. We’d look for it to stay above the orange zone and turn back towards the pink zone. I’ve gone ahead and taken a small sell here into the orange-shaded area. We’ve seen much resistance into this level. Happened to be the .618 fib of this previous leg of the downtrend, so went ahead and took a sell right at the top of the orange-shaded area. My stop loss is up here right around where that little, short, green line is, looking for it to continue to pressure lower for the NZDUSD today. A couple of other things that we’ve looked at. Of course the USDCHF is now challenging underneath this little, black trend line and our resistance level, the green-shaded area. If you’re looking for an opportunity to go short here on the USDCHF, the green zone, between 0.9915 and 0.9950 is the spot to watch for resistance. You really don’t want it to break above there if you’re going to go short. For those of you thinking about going long on this pair, it’s likely that you thought about it down here at the blue zone, but the next opportunity would be a break above the green-shaded area here for the USDCHF. All right, moving on over to the USDCAD. Long-term. Let’s take a look at the long-term here. The daily timeframe. The blue trend line coming up from the bottom, capturing from the low back here in early 2015, connecting with the low here, late 2015. Most interesting enough is where that comes into current contact with the current market. Long-term trend line connecting exactly with these lows, the current market testing that blue trend line. https://www.youtube.com/watch?v=fUvpPQzq4ok
Visibility: 541
Duration: 8m 15s
Rating: 1