Hello everyone!

We just wanted to round up the year end of 2008 and look forward to what’s up for 2009.

As expected, we’ve seen some wavy moves on the EUR/USD as trader’s around the world are looking to celebrate the new years celebration.

Let’s wrap up ‘08 with the EUR/USD - 5 minute chart. The trend line on top was drawn on an hourly chart. As you can see, we are slowly creeping up - however, late December is always a tricky time to diagnose market sentiment.

On the technical side, look for a break of the two trend lines. If it breaks the bottom trend line, look for it to continue going down to the low earlier today. If it heads up past the upper trendline, look for it to test the top trendline (area marked in yellow).

Remember, if for some reason you decide to place a trade, be sure to use your stops and apply your money management. However, at this point, it’s probably better to have fun tonight with friends and family and then we’ll take a look at the markets in ‘09.

We still have a couple hours to wish all our friends in Europe a Happy New Year! We hope that 2009 will be a great year and a year for people to acheieve their trading goals.

Hello. After a year long down trend on the NZD/JPY, have we finally seen a bottom?

Welcome back to the last trading week of 2008! Let’s pull up a chart from one of our favorite currency pairs - the NZD/JPY.

We’ve had a pretty good down trend starting from early 2008 and the question is - did we have a bottom on 12/5?

This may have set the stage for this pair in 2009. If the pair breaks the low, look for a continued down trend and there some trend lines that can be drawn in to potentially determine how much further this pair can go.

On the smaller scale, watch to see if the pair breaks the high of 12/18. If it breaks, look for a continued bullish movement and from there, we’ll be able to potentially guage the strength of the movement.

This pair can move very quickly in a very short amount of time so utilize your stops and apply your money management.

As we move into 2009, look for more from ‘The Trader’s Edge’ from Pro Pipper Trading. Many readers have requested videos and we plan on uploading short videos of our analysis - which will hopefully be a great tool for helping people learn.

Until next time, we hope you have a great day of trading.

Hello everyone.

We hope everyone had a great weekend. Let’s check in on our friends from down under and pull up the AUD/USD.

We looked at the longer term charts to get the overall picture and have focussed in on the 30 minute chart.

As you can see, we are starting to consolodate and move sideways - which means that a breakout is coming soon. We have drawn trendlines that show a potential triangle forming.

If the pair breaks the bottom black line, then look for it to head down and test the low from 12/18. If the pair breaks the top of the triangle and the high from 12/22), look for it to potenially re-test the high from 12/18, If it breaks that high, then look for continued bullish sentiment until we begin to see a slowing of the trend.

Good luck and be sure to utilize your own money management.

Hello.

Taking a break from the EUR/USD, let’s take a look at the GBP/JPY.

The first screen capture is of the daily chart. We labeled the chart with our count of the longer-term movement. Have we completed a Wave 3 bottom on 12/12?

We turn to the hourly chart and see a potential triangle forming. If it breaks the bottom trend line, it will likely go down and test the 12/12 low again. If it breaks that low, then we know we are in a continuation of the down trend.

If the pair heads up and breaks the upper trend line, then we’ll wait and see if it breaks the high of 12/16.

Keep in mind this pair moves very quickly in a short amount of time. If you’re not used to trading this pair, applying your own money management and stops are necessary to protect you from whipsaws.

On a side note, I’d also like to wish my wife a Happy Birthday. Her birthday is actually on December 20 (how convenient when the markets are closed) so it’ll be a fun time for us and the family.

Don’t forget - you need to take the time to rejuvinate yourself so you’re fresh for trading.

Good luck and if we don’t post again before the weekend, have a safe and happy weekend!

Hello.

We saw some fireworks today across the majors as the EUR/USD spiked almost 500 pips for the day. This week alone has seen a 1000+ pip movement in the EUR/USD.

The uptend fiddled around the 50% Fibo line from the top starting 7/15/08 and the bulls took the pair and ran with it.

Watch for some pullback and retracements as the European session opens for the day but look for the pair to potentially hit the 61.8% Fibo level up in the 1.4621 area. We also can look at smaller time frames to help us understand the inner workings of the current wave.

When the timing is right, we will look for potential tops and potential turning points to explore - so be sure to keep checking back with us on ‘The Trader’s Edge’.

In the meantime, apply your money management and use your stop loss.

Good luck.

Have we seen a top on the USD/CHF?

We have shown our count of the USD/CHF and from the current movement, it seems there was a potential top on 11/21.

The pair has since broke the low of 11/25 and is continuing to head down. We will continue to monitor this and update everyone as it unfolds.

Remember that as we get closer to the end of December, you need to trade with extra caution as volume is low - which may potentially cause very erratic and unexpected movements and spikes. Monitor your trades and apply your money management and put in your stop losses.

Although we don’t like to look too far ahead, we’re very excited for the new year! If you haven’t already subscribed to ‘The Trader’s Edge’ newsletter - be sure to do so now so you’ll be notified when we update our blog.

Good luck!

Hello everyone.

As you can see, we have pulled up a AUD/USD Daily chart. We can see a nice top back in July/August and a nice, trending movement downward.

We have labelled the charts with our count of this momement. You can see wave “B” tested the bottom (labelled “3″) but did not break it.

Watch the current daily candle to close above the trend line to ensure its not a false breakout. If it holds above the trend line, watch for the current movement to remain somewhat bullish as we finish off the C wave and then continue back down for Wave 5.

Again, be sure to use your stops as we move closer to the holidays. Low volumes may create erratic and unexpected movements so don’t get caught off guard.

Good luck and if we hope everyone has a happy and restful weekend.

Hello everyone.

We hope everyone had a great NFP trading day and a restful weekend. We’re back and let’s take a look at the EUR/USD.

Two key prices remain in effect to see where the Euro is heading. Our larger term count shows the low on 10/28 to be the completion of Wave 3 on the Daily chart. To determine this, we need to watch two levels.

1.3296 on the upside and 1.2331 on the downside.

If the pair moves above the 1.3296 level, look for continued movement up and would potentially be the 3rd wave of the retracement.

The triangle formation would suggest a down movement, however, shorter time frames suggest there is more room for potential up movement.

It is important to keep in mind that the closer we move to the holidays, the less volume may come into play and pairs may be very erratic with the low volume. Be sure to use your money management and trade with a stop.

Good luck and we’ll see everyone again tomorrow.

Hello everyone.

As we continue to monitor the majors, let’s take a look at the EUR/NZD.

We saw a nice movement up and then a retracement. The retracement came close to the 38.2% Fibo level but never hit it. It is now near the top and a little ways from the high of 11/25 (2.4080). If it strongly breaks this level, look for a potential upward movement.

Keep in mind there are a lot of risks trading this pair. This pair can move a lot in a short time frame and you could get caught on the wrong side, which will move against you very quickly. Also, keep in mind the spread on this pair is astronomical at best - sometimes as high as 25 pips and up, depending on who you trade through. So, you’ll really have to evaluate your Risk vs. Reward and your money management. Also, check for economic announcements that could affect this pair.

Good luck with trading and be sure to keep checking back on FX Street for the latest data and analysis on the upcoming NFP.

Hello and welcome back.

Even though the end of the year is near, there is still a lot of room for movement amongst the majors – starting this week with a plethora of announcements, including interest rates amongst four central banks and the US NFP on Friday, December 5.

From early looks, it seems the EUR/USD is forming a triangle in what is potentially the Wave 4 on the Daily charts. We will monitor and update everyone.

As we get closer to the NFP, we’ll also get a better idea of the consensus and plan our course of action from there.