Ending diagonals are another formation we like to trade - although these can be very tricky and VERY frustrating. It’s really hard to determine how far the 5th wave of the ED will go before changing direction.

We drew our two trendlines in. Look for the currency pair to test the bottom trend line, go back up and then drop down.

Looking at the daily chart, it seems as if we’re forming a strong, impulsive movement so the larger wave down on this 5 minute chart could be the start of the retracement on the daily chart.

Again, use extreme caution when trading these. Check your announcements and definitely place your stops.

Good luck and we hope everyone has a great weekend.

Here is a CHF analysis before the opening of the European session.

Looking at the CAD/CHF daily chart, it looks like we’re forming a potential Ending Diagonal.

In the shorter-term, look for a trade up - which looks to be verified by the shorter term charts. After the currency pair tops out, look for a sharp movement down.

For shorter term trading, be sure to look at your shorter term charts. Check your announcements and use apply your money management.

Good luck in the London session and we’ll see everyone again for the NY session.

We saw a decline in the EUR/USD which is a preview of what’s to come. Look for the EUR/USD to continue moving downward for around the next two weeks. After it hits a bottom, look for a potentail reverse to the upside - past the high on May 22.

We’ll update everyone as we get closer to this time.

Until then, good luck with your trading and we’ll see everyone again shortly.

Hello.

Looking at the EUR/CAD 5 minute chart, we see that we have a movement up and am currently in an apparent retracement down.

We have drawn in our trend lines - look for the currency pair to test the bottom trend line and then turn to the upside.

If the pair closes and breaks away from the upper trend line, the next resistance will be at the high of 1.5848. If it closes above that and breaks away, then look for a continued movement up.

For those in the US, we want to wish everyone a happy and safe Memorial Day weekend. Let’s all enjoy the day off and spend it with our loved ones.

Good luck.

Hello everyone and welcome back to another week of trading.

Pulling up the AUD/USD daily chart, we see that we are forming what seems to be the final wave of a corrective movement. The last couple of candle formations along with looking at the shorter term charts shows that there is still potential up movement for this currency pair.

Once it tops, then look for a steep movmement down - however, we still seem to be finalizing the corrective movement so look for a potential trade to the upside.

Be sure to check your announcements, apply your own money management and always use your stops in case the market turns against you.

Good luck and we’ll see everyone again shortly.

Hello.

Our scan brings up the AUD/USD 5 minute chart. We loaded a lot of data so you can see where our trend lines are drawn.

The trend is up, however, look for a potential pull back to our trend line or even to test the low of .7465 (marked by the black line).

I know many of you are thinking - this is a double top. Although it very well could be a double top, the trend seems to be up, which means that we will see a cotinuation. If it goes below the low at the beginning of our trend line, then that would invalidate this forecast.

If we don’t see you again before the end of the NY session, we hope that everyone has a very nice and relaxing weekend.

Be sure to check your announcements, place your stops and apply your money management.

Looking at the EUR/GBP 5 minute chart, we see a movement up, hit a top and is now moving back down. Is this a retracement or will this turn out to be a reversal?

It appears to be a retracement at this point. We marked off 3 potential points to place your stop loss - depending on your risk tolerance. Keep in mind that S1, although will stop you out with the smallest loss, it is also the most likely to get triggered.

Our initial projections show the move up to .9150 and up - which is another reason to take into consideration which stopping price you want to place your stop. You need to apply your own money management and Risk vs. Reward practices before placing this trade.

Good luck and see you soon.

Hello.

Look for continued up pressure on the EUR/USD. It may go down a little in the shorter term but look for a potential move up to 1.4000 and up.

Good luck.

Hello.

As we gear up for the NFP - just wanted to give everyone a snapshot of the Euro.

The general consensus -550K to -600K with a 8.6% - 8.9% unemployment rate forecast. We’ll see how the numbers pan out in about 8 hours.

Technically speaking, the EUR/USD is still seemingly bullish. We may see a retracement down, however, the overall trend seems to be bullish. We’ll have to see where the numbers come in at and how it effects the market to take any trades.

When the dust settles, look for a potential move up to 1.3550 and up.

We’re doing our research now. It’s amazing to see how many traders come in unprepared when it comes to the NFP. Do your research, know what triggers you have and be ready to execute them quickly.

We’d also like to take the opportunity to say Happy Mother’s Day to my mom, wife, sister and all the mother’s out there.

Good luck and have a great weekend. You deserve it!

Hello everyone!

We hope everyone that celebrated Cinco de Mayo has recovered from last night and are ready to trade.

Looking at the CAD/JPY 5 minute chart, we had a strong movement down and am currently in a potential 3 wave correction.

Judging by the looks of the very recent impulsive move upwards is that we’re potentially forming a short term Ending Diagonal (ED). You’ll need to examine the shorter term charts (1 and 3 minute charts) to help break down a potential turning point.

Our timing indicates the upward movement could potentially go on throughout the European session. Look for a breakout near the end of the European/opening of the US session.

Good luck - be sure to use your money management and utilize your stops.

We’re also gearing up for the NFP this Friday so we’ll see you all again soon.