GBP/USD 20 JULY 2012

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

Price rallied to break the B high giving us a new AB swing.

FOR TODAY:

We need to wait for a retracement down to the 618/786 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 short setups today.

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 will 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.

EUR/USD 20 JULY 2012

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

Price rallied yesterday but didn’t close above the B high and pulled back into the AB swing.

FOR TODAY:

We will be looking for a test of yesterdays high followed by another bearish cs formation for a short entry.

Longs can be considered at the support levels after bullish cs formations.

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

SHORT: WILL ONLY BE GOING SHORT IF:

We will enter short trades if we get a bearish cs formation after a test of yesterdays high, with limits down at the A low.

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

LONG: WILL ONLY BE GOING LONG TODAY IF

Long trades can be considered if we get a dip to test support,  followed by a bullish cs formation telling us that support is holding.

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

AUD/USD 20 JULY 2012

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Price eventually gave us a B high yesterday.

FOR TODAY:

We now have to wait for a retracement down to the 618/786 of this swing.

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

SHORT: Will be going short only IF:

No trade set-up for a short.

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.

NZD/USD 20 JULY 2012

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

Price rallied to the 8029 level we were looking for yesterday.

FOR TODAY:

We will sell if we get a test of yesterdays high followed by a bearish cs formation.

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

SHORT: Will be going short only IF:

We will be looking for price to test yesterdays high followed by a bearish cs formation for a short trade set-up.

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

LONG: Will be going long today only IF:

Today we are looking for dips down to the previous days lows followed by bullish cs formations for long trade setups.

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

US DOLLAR 20 JULY 2012

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

Price fell yesterday to break the A support low.

FOR TODAY:

We now have a new AB downswing, we now need a retracement back to the 618/786 for a short trade set-up.

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 setups at present, we need a retracement up to the 618/786.

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 trades at present.

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

GBP/USD 19 JULY 2012

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Price tested the bullish cs formation of the previous day but failed to clear the high.

FOR TODAY:

Failure from current levels while inside the B high will signal a move down to the A low. A rally and a break of 5677 will open the upside.

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

SHORT: Will be going short only IF:

Shorts will be considered after a clear bearish cs formation from current levels, or while inside the B high.

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 can buy after dips followed by bullish cs formations heading for 5677.

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

EUR/USD 19 JULY 2012

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

Price fell yesterday to give us the test and then found support to rally from there.

FOR TODAY:

We need to break 2305 to continue up, we will look to buy after a dip followed by a bullish cs formation for a long trade setup. Else failure circa 2316 points to a move lower down towards 2160.

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

SHORT: WILL ONLY BE GOING SHORT IF:

We will enter short trades if we get a bearish cs formation circa 2300/16 with limits down at the A low.

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

LONG: WILL ONLY BE GOING LONG TODAY IF

Long trades can be considered if we get a dip followed by a bullish cs formation, preferably after a bit of a fall.

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

AUD/USD 19 JULY 2012

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Price headed up yesterday to break the B high eventually.

FOR TODAY:

We now have a new A low, waiting 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 trade setup for a short.

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:

No trade setup, we need an established B high to form.

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

NZD/USD 19 JULY 2012

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

Price tested the previous days dip, broke it, but could not sustain the break, then rallied.

FOR TODAY:

We are still looking for price to head up to 8029, we will look to buy after dip followed by bullish cs formations.

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

SHORT: Will be going short only IF:

We can only consider shorts after a test of 8029 followed by bearish cs formations.

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:

Today we are looking for dips followed by bullish cs formations for long trade setups. Place stops 10 pips below the low of the cs formation, max 1% risk, limits are up at 8019.

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

US DOLLAR 19 JULY 2012

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

Price fell yesterday after testing the previous days high.

FOR TODAY:

We are close to the A low here, a break of the low will signal a reversal on this timeframe.

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 at present.

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 can consider a long position if price finds support inside the A low followed by a bullish cs formation.

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