Weekly Round Up
Thanks to all renewing members who re-subscribed, and a very warm welcome to all the new members who have been waiting to subscribe. We greatly appreciate your patience in this changeover period and look forward to providing some great insights for you to benefit from.
A very unusual trading week in the forex world but there were still a good number of pips to grab although in a few cases cast iron nerves may have been needed to enter/ride some of the moves. Hopefully members managed to secure some decent pips numbers from a selection of the daily thoughts and charts.
Potential maximum pips off comments and charts in daily thoughts round up
#41 EurUsd. Gave maximum 290 pips long, then 150 pips short, and additionally circa 100 pips north for risk-takers/scalpers/day traders around NFP
2/3. “……..there is still potential for some slightly higher prices”
4/3 ” ……previous resistance 3680-90 was broken last night and is currently being tested, so there is a possibility of a small retrace – see the yellow box on the 1H chart”.
5/3. “…… I still like the northern scenario (bullish bias) for the time being”.
#37 GbpUsd. Dead Cat Bounce gave max 350 pips
2/3. …………..”A Dead Cat Bounce is always a possibility after such a fall”.
#36 Eur.Gbp retraced max 80 pips (after 350 pips long from last week).
3/3 “……………..Could be room for a little retrace after that quick move………”
#43 Aud.Jpy short maximum 160 and later short 75 pips
2/3 “……….Bear Flag appears well formed on the 1H/4H. ………watching for any reversal pattern that might appear in/near the yellow box area”.
4/3 “………looks good to follow the trace in the medium term……….. 4H/Chikou support which is trying to break down now”.
#32 EurNzd maximum 560 pips. (Longer term traders/ scaling in)
25/2. “…………….Action is still just below the down-trend line but a break and test of that could indicate a base has formed. Potential Chikou support below circa 9240-9100 in case of a spike lower”.
#45 Aud.Nzd maximum 80 pips (potential for scalpers/day traders).
4/3. “…………A resistance break on the weekly chart after such a number of tries may have some relevance”
#34 Usd.Jpy maximum 120 off Bullish Engulf in yellow box (potential for scalpers/day traders from Candle Pattern follow on possibility).
5/3. ” …………….Bullish Engulf has occurred in the yellow box on the daily chart”
Check whole weeks comments here
http://www.lincolnfx.com/forex-forecasts/2010/03/05/fridays-thoughts-4/
Have a great weekend everyone, and we look forward to finding more possibilities in the coming week.
Arco

