GBUSD 2 AUGUST 2012

GBP/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

We are still in the bullish AB swing on this pair, price reached the 786 overnight.

FOR TODAY:

We are looking for a test of the 786, or lower down while inside the A low, followed by a bullish cs formation for a long entry.

If we don’t get the set-up we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No short trade set-ups until we start the reversal process.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We are looking for a test of the 786, or lower down while inside the A low, followed by a bullish cs formation for a long entry.

If we don’t get the setup we are looking for then we don’t trade.

EUR/USD 2 AUGUST 2012

EUR/USD – follow me on twitter @fxdailyforecast and stocktwits.com/fxg

Price tested the 618 yesterday and fell but didn’t not sustain the fall beyond the B low.

FOR TODAY:

Today we will look to see if the B low gets broken, or if we find support at the B low again for a rally.

A sustained break of 2389 negates this view and continues the uptrend.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: WILL ONLY BE GOING SHORT IF:

We get a rally followed by a clear bearish cs formation for a short entry. Place stop 13 pips above the cs formation, max 1% risk. Limits 70 pips for the 618 entry.

If we don’t get the setup we are looking for then we don’t trade.

LONG: WILL ONLY BE GOING LONG TODAY IF

Price finds support at the B low and bounces off that level, price will then be heading for 2344.

If we don’t get the setup we are looking for then we don’t trade.

AUD/USD 2 AUGUST 2012

AUD/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

We now have a B swing high for the AB swing.

FOR TODAY:

We will need to wait for a retracement down to the 618/786 of this swing for a long entry.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No shorts are considered during the retracement.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We are looking for a retracement down to the 618/786 of this swing for a long entry.

If we don’t get the setup we are looking for then we don’t trade.

NZD/USD 2 AUGUST 2012

NZD/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

We have a new B high for the AB swing.

FOR TODAY:

We need to wait for a retracement down to the 618/786 of this swing for a long trade setup.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

Because we had a small swing high followed by a fall to take out interim support, we will consider selling a clear bearish cs formation if price rallies deep into the B high and reverses.

If we don’t get the set-up we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We need a retracement down to the 618/786 of this swing for a long trade setup.

If we don’t get the setup we are looking for then we don’t trade.

US DOLLAR 2 AUGUST 2012

USDOLLAR - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

Price rallied to the 50 of the AB swing.

FOR TODAY:

We are now looking for a retracement deeper towards the 618/786.

If we don’t get the set-up we are looking for then we don’t trade.

SHORT: Will be going short only IF:

We need price to retrace up to the 618/786 of this swing for a short trade setup, either this current swing, or the new one if price sustains the break of the B.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

No long trade setups at present.

If we don’t get the setup we are looking for then we don’t trade.

GBP/USD 1 AUGUST 2012

GBP/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

We are still in the bullish AB swing on this pair.

FOR TODAY:

We are looking for a retracement down to the 618/786 of this swing for a long trade setup.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No short trade set-ups.

If we don’t get the set-up we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We are looking for a retracement down to the 618/786 of this AB swing for a long trade setup. Place stop 10 pips below the low of the cs formation, max 1% risk.

If we don’t get the setup we are looking for then we don’t trade.

EUR/USD 1 AUGUST 2012

EUR/USD – follow me on twitter @fxdailyforecast and stocktwits.com/fxg

Price reached the 618 of this swing yesterday.  

FOR TODAY:

We will look for a test of the 618 today followed by a clear bearish cs formation for a short entry. If the 618 doesn’t hold then we look to the 786 for resistance.

A sustained break of 2389 negates this view and continues the uptrend.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: WILL ONLY BE GOING SHORT IF:

We are looking for a test followed by a bearish cs formation for a short entry. Place stop 13 pips above the cs formation, max 1% risk. Limits 70 pips for the 618 entry.

If we don’t get the setup we are looking for then we don’t trade.

LONG: WILL ONLY BE GOING LONG TODAY IF

No long entries at present since we are in reversal.

If we don’t get the setup we are looking for then we don’t trade.

AUD/USD 1 AUGUST 2012

AUD/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

We now have a B swing high for the AB swing.

FOR TODAY:

We will need to wait for a retracement down to the 618/786 of this swing for a long entry.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No shorts are considered during the retracement.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We are looking for a retracement down to the 618/786 of this swing for a long entry.

If we don’t get the setup we are looking for then we don’t trade.

NZD/USD 1 AUGUST 2012

NZD/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

We have a new B high for the AB swing.

FOR TODAY:

We need to wait for a retracement down to the 618/786 of this swing for a long trade setup, else if price rallies beyond the B, then we need to wait for a new B high to form.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No short trade setups during the retracement.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We need a retracement down to the 618/786 of this swing for a long trade setup.

If we don’t get the setup we are looking for then we don’t trade.

US DOLLAR 1 AUGUST 2012

USDOLLAR - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

We have a new B low on this chart.

FOR TODAY:

Price gave us a new B low and pulled back into the range. We are now looking for a retracement deeper towards the 618/786.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

We need price to retrace up to the 618/786 of this swing for a short trade setup, either this current swing, or the new one if price sustains the break of the B.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

No long trade setups at present.

If we don’t get the setup we are looking for then we don’t trade.