Hello.

As we are midway through the Asian session, let’s get a preview of the EUR/USD.

As we approach the European opening, we saw the Euro weaken across the board yesterday as a result of poor economic data.

Technically speaking, we’ve have a support line that has popped up and would indicate a continued move down if broken (Level 1). If the currency breaks and moves away from Level 1, then look for it to test Level 2. We’ll watch the opening of the session through the New York session for developments.

Watch your announcements and be sure to apply your money management.

Happy trading!

Greetings.

Let’s pull up the NZD/JPY and see where we’ve gone.

As you can see, the currency is starting to channel - making a potential triangle formation.

The daily charts are showing a minor retracement to the upside before heading back down.

This pair can move a lot so watch for a false break of the lower trend line. If it breaks and goes lower than the invalidation line, then look for a retest of the low 1/21/09.

The Asian markets are winding down and we’re about an hour before the opening of the European markets.

Check the economic calendar on FX Street and be sure to use your stops and apply your money management.

Good luck and have a great day of trading.

Hello.

Welcome back from the weekend and another week of trading.

Let’s bring back something we looked at last week on the NZD/JPY.

We said that there was a potential bottom on the daily chart and now we’re headed up into a correction. We looked at the hourly chart and drew in a nice trend line where the currency is currently hovering around.

Look for a potential continued move up. We are midway through the Asian session so you may see some pushes down lower but look for the overall short term trend to be bullish.

Remember that this pair moves fast so be sure to put your stops in and apply your money management.

Good luck.

Greetings.

Let’s pull up the EUR/USD hourly chart. Although the long term trend is still down, it looks as if we may get a retracement in the market.

The daily EUR/USD chart indicates we hit a potential low on 1/21/09 and am now going to head up for a retracement.

A good way to stay safe while doing your research is to wait until the currency pair crosses the upper black line. If it crosses the line and breaks away, look for a continued movement up.

We’re about 3 hours before the opening of the European markets so we may see some low volume spikes here and there, but wait for the European session to open and watch for a break of the top line.

As always, apply your money management and use your stops.

Good luck.

Hello.

Because we posted some of the majors on our website, let’s look at another potential trading opportunity.

We’ve been watching the NZD/JPY for a while now and the currency keeps creeping further and further down.

As you can see by the last candle in the chart, the bears seem to keep pushing the market down. Watch for a break of the trend line we drew in.

This pair does move quickly and can move hundreds of pips very quickly so be sure to put your stops in and apply your money management.

Good luck.

Hello.

It seems the screen capture software we’re currently using isn’t working out. We’ve tried for two days now and it may be time to look for another program. But, just like our time in the markets, we’re determined so we’ll get it done one way or the other.

Just a quick entry pre-European opening. The daily charts show the general trend is down and we potentially have a lot of room to play with.

Bringing it down to an hourly chart, we have two trend lines and can see the trend is down. On the upside, watch for a break and strong move up across the top trend line (highlighted yellow area). With the way the market is consolodating and moving, don’t be fooled by being “wicked” out. If it does move up, next point to look for are 1.3338.

On the downside, watch for a break of the black line (low from 1/14). A strong break would be a nice potential move down.

We’ll continue to monitor the markets and update everyone when the market develops. Be sure to watch your economic calendar and apply your money management.

Good luck and we’ll see everyone again shortly.

Hello.

Also, if you haven’t seen it on FX Street yet, they are coming out with the Trader of the Year contest for the third year running.

It’ll be interesting to see what returns contestants get this year. Last year, we netted more than 30% on our demo account - which, if it was part of a fund, would be outstanding.

We were ranked in the top 100 for a couple weeks but fell out of the top 100 as people starting gaining outageous returns.

Nonetheless, we had a great time trading in the contest and am looking forward to it again. Reading some of the forum posts from last year, I know many traders want it to be a live trading account - since most people trade live accounts very differently than demo accounts. We’ll wait to see what happens.

Either way, we hope to see all of you in the contest as well.

To read the press release - click here.

The EUR continues to slide down against the dollar. Mid-day through the New York session, look for the pair to slowly bounce up and down but have a general downward move.

We also broke the 1.3308 low, signaling that we’re looking at a good, continued downtrend.

We’ll post a full analysis again before the opening of the European session tomorrow.

Good luck.

Hello.

With the NFP coming out, we’ve got to really be on our “A” game.

First, the general consensus is that the numbers are going to be bad - but how bad will they be? Even with the holiday hype late last year, analysts are still favoring a massive cut in employment for the month.

Technically speaking, we need to look at the longer term and hourly charts. Looking at the attached chart, I drew in a trendline but the main line to be watched is the black line. We’re still waiting to see if that was indeed a top to the retracement.

As with all NFP’s, be sure to use your money management, put your stops in and watch your trades. We will hopefully get a better overall picture of the pair after the announcement. Until the announcement, do your research, get your trading plan together and get some rest so you’ll be ready. Good luck.

Greetings.

Let’s take a look at the USD/JPY. As you can see on our hourly chart, we hit a top and am now stuck in a triangle.

Remembering to do your research on longer and shorter time frames as well, here is a potential set up for some pip action.

There are two triggers on both the buy and sell side (the first trigger being more risky). If the pair moves up and passes the first line, look for a potential continued movement up and to test the top. If it breaks the top blue line, then look for a strong move up.

Conversely, if the pair crosses the first red line, then look for a continued move down to the second red line. If the pair breaks the second red line, look for a nice, continued movement down.

At this point, it’s a waiting game to see what unfolds. In the meantime, be sure to check the economic calendar and do your research on other time frames.

Also, just a quick note about the upcoming features of ‘The Trader’s Edge’ - we will be adding audio/video recordings, which will hopefully help walk you through the process.

We’re looking forward to 2009 - for trading and growing - so if you haven’t done so already, be sure to get on our mailing list as we will slowly start implementing more updates.

Good luck and remember to apply your money management when trading. Capital preservation is key.