David Long

Currency Pair Analysis – Forex Trading News – March the 18th 2014

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Forex Market News

AUDCAD – An engulfing buyer bar with no clear indication of next direction.

AUDCHF – Has found good support at 7820 area and is making lower highs but also higher lows in a wedge style formation.

AUDJPY – Chopping either side of ema’s that are as flat as the Hay plains I grew up on.

AUDNZD – A brave man to trade against the sizable selling momentum and trend, but there is huge support at 1.05 area and momentum divergence. Another day of buying might produce a trade opportunity.

AUDSGD – Same as AUDUSD, patience

EURAUD – Has produced a mini-cycle above the ema. Need to see the market sentiment so patiently wait for at least 2 bars of buying.

GBPAUD – Rather messy and now under the ema. Nothing doing here.

EURCAD – Just grinding higher with no setup in sight.

EURGBP – Has broken significant high of Jan, so now would be looking for buying opportunities. Need to wait for the pullback/retest of the ema though.

EURJPY – TRADE SETUP. Do your checklists but this is looking good with horizontal and trend line support along with ema and fib support.

EURNZD – Messy and avoid.

GBPCAD – Mid phase 2 no trade.

GBPCHF – Not really a strong horizontal but there is divergence and fib extension. Be wary of this without the decent support level.

GBPJPY – This may look like the EURJPY but it is not. It has a LL, breaking the Feb 168.81 low. No setup.

GBPNZD – Looking to turn higher but the only indication is momentum divergence. No horizontal and no clear buying power so no trade.

CADJPY – Third bounce off support but no trade now.

CHFJPY – TRADE SETUP. Again, off support. Do you checklists and risk management with this and the EURJPY.

NZDJPY – Could be P2 or P1…

USDCHF – End of phase 2 but no signs of change in trend yet.

CADCHF – TRADE SETUP. Do your checklist but I see divergence/extension/support…

USDSGD – Like the GBPAUD, kind of lost and not clear on trend either way.

USDZAR – 50ema has flattened and price is chopping either side of it. No trade.


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