The CAD/JPY is currently trending down. The analysis of the W1 time frame shows a strong downtrend in place on this pair. Below the current price this pair has excellent pip potential. The current support levels on the smaller time frames are around 91.30, which is noted by the red line in the image. The next major support we can see is at the 80.00 level, so this pair has a lot of pip potential below the current levels.
Currency Pair Analysis CAD/JPY 1-29-2014
Today in the currency trading market the Japanese Yen (JPY) was strong on all pairs. All of the JPY pairs dropped to the downside, however most of them are inside of trading ranges. For that reason we would scale out some lots or exit completely. Pairs like the AUD/JPY could break lower later this week since since they are trending to the downside. The trading signals you see below are from The Forex Heatmap®, which gives live trading signals for 28 currency pairs.
Currency Trading Signals JPY Strength 1-29-2014
Today in forex trading the British Pound (GBP) was weak on all pairs. The Japanese Yen (JPY) was also strong. The GBP/JPY had a clear sell signal, and this pair had a strong sell off. We would scale out lots at the current price levels as the GBP pairs could reverse back up in a couple of days based on overall market GBP strength. We view this as a short term sell off in these pairs. The trading signals you see below are from The Forex Heatmap®, our live trade entry management tool.
Forex Trading Signals GBP/JPY Sell 1-24-2014
Today in forex trading the Australian Dollar (AUD) was weak on all pairs. There was also some Swiss Franc (CHF) strength in the market. This drove the AUD/CHF to near eight week lows. The Euro (EUR) strength in the market also drove the EUR/AUD upward past all recent resistance to new breakout levels. The EUR/AUD is trending on all of the higher time frames and should continue higher. The live forex signal system you see below is the Forex Heatmap®, which provides trading signals for 28 pairs and eight currency groups.
Live Forex Signals AUD Weakness 1-23-2014
This is an analysis of the current GBP/JPY trends. This forex pair is in a long term uptrend. It should continue up to the 174.60 resistance, shown on the left in yellow, then continue higher. The current resistance level is 173.70, so this pair has about 10 more pips of upside potential. It should stop there for a day or two then continue higher in the long term up. This chart analysis of simple trend indicators was done using multiple time frame analysis.
Forex Chart Analysis GBP/JPY 1-22-2014
Today in forex trading the GBP/CAD pair had a clear buy signal. This pair moved up substantially during the main forex trading session. It is approaching the next resistance area at the 1.8400 area. Since it is approaching resistance we would scale out lots and manage trading profits. We will check the other GBP and CAD pairs later today and see if we can issue a buy plan for a breakaout of the resistance. The live trade signals you see below are from The Forex Heatmap, our real time trade entry management system.
Forex Trade Signals GBP/CAD Buy 1-22-2014
Today in forex news the retail sales news from the British Pound GBP was announced. After the news announcement the GBP strengthened on all pairs. Month over month sales volume was up 2.6% vs 0.5% forecast, and this drove the GBP higher. For traders, these pairs moved up quickly after the news was announced.
Pairs like the GBP/AUD moved strong to the upside. This pair is nearing a breakout point and we will look to prepare more forex trading plans for a buy on some of the GBP pairs next week at their respective resistance breakout points. After any news event, traders can use The Forex Heatmap® forex heatmap, which is shown below, to enter forex trades across 28 currency pairs. It works under most market conditions, or after the news for 8 currencies.
British Pound GBP Retail Sales
This forex chart shows that the AUD/USD is trending down on the largest time frames, like the MN time frame. This pair should break the 0.8800 support area and has substantial downside below there down to the 0.8300 support area. The AUD is weak on most pairs and is driving a lot of the movement. The trading charts you see below are very simple trend indicators that we provide to our clients.
Forex Trading Chart AUD/USD 1-15-2014
Today in the forex market GBP/AUD has a clear buy signal. This pair moved strong to the upside and it has good upside potential back to the 1.8500 resistance level on the H1 time frame. Since this pair is only trending on the smaller time frames we suggest scaling out lots and managing profits. On an overall basis in the market today, the GBP was strong and the AUD was weak, AUD pairs had strong movements on this basis. Below you see The Forex Heatmap®, which is a visual map of the forex market that provides live buy and sell signals for 28 forex pairs.
Forex Market GBP/AUD Buy Signal 1-14-2014
Today in forex trading the GBP weakness provided a lot of trading opportunities. The GBP sold off on all pairs, driving price movement. The GBP/NZD dropped strong to the downside. This pair could continue lower to the next support level. Other pairs like the GBP/AUD also dropped but we would be scaling out lots and taking some profit as this pair is nearing one support level. The alert system you see picture below is the Forex Heatmap®, which provides live visual alerts for 28 currency pairs and eight currency groups.
Forex Alert System GBP Weakness 1-13-2014