USD/CHF – SELL

For the Swiss I’m short biased today. The rate is down on both the m15 and the h4. There is some support at the 0.91450 mark which is yesterday’s low. If the rate breaks that low, THEN I will be looking at selling the CHF.

GBP/USD – WAIT

A tricky one today, OVERALL, the trend is slightly bullish on the H4, however on the M15 we can see that the rate is ranging between yesterday’s daily high and low levels. I will not be looking to trade this unless those levels are clearly broken. I’ll be looking for action if the rate rises to 1.59286 or falls below 1.58081. Until then I’ll be holding fire on the pound.

EUR/USD - SELL

Well the H4 is clearly bearish, over to the intraday (m15), I would say the charts confirm this, i.e. the rate is heading downwards. I would expect a short retracement very shortly. If following this new swing high/fractal forms that is lower than the previous, then I would look to sell the Euro. I would expect this selling opportunity during the London session.

USDCAD – BUY

An interesting one today. We can see on the H4 that the trend was completely bearish, however the key high around 1.00366 was broken
suggesting a turn in the trend. This is confirmed on the M15 where we see a completely bullish rate. Right now it is retracing slightly but the rate is still up. I’d look to buy of the most recent intraday key high, i.e. when the rate rises and breaks 1.00505.

AUD/USD – SELL

Well, the AUD is still following that strong down trend on the H4 following that drop, retrace, drop pattern. I expect the rate to continue to drop throughout the day. The m15 confirms this bearish market and the rate is currently dropping as expected. I’ll be looking to sell once the most recent key low of 1.02696 is broken, which I expect to happen any time now.

PICK OF THE DAY – AUD/USD – SELL

With such clear price profiling, trend is my friend with the Oz. I’ll be looking to sell once the rate dips below 1.02696. There is good opportunity on the CAD, EUR and CHF also with clear profiles of market direction. Today is a good day to be making some pips.