New Signal EUR/JPY

*Signal Update:  As of 02/26/2015 @ 7:18 EST The Global Currency Scalper cancelled its open order on EUR/JPY.

As of 02/25/2015 @ 8:32 EST:

We have identified a possible short trade in EUR/JPY.  This pair has experienced a sharp selloff since the beginning of December 2014 and has since bounced to the 23.6% Fibonacci level.  Consolidating around this level for close to three weeks this pair is starting to show some signs it's about to rollover.  We would like to see a certain level be taken out which should give the shorts some more conviction to take this pair lower.

The Global Currency Scalper will be taking EUR/JPY short with a break of 133.430, targets are 132.400, then the figure of 132.000 and if a further breakdown happens we could see 130.900.  We will be placing our stop with a break of 136.750, if this level is breached prior to initiating a position our view will turn neutral and further evaluation will be needed.

New Signal CAD/JPY

*Signal Update:  As of 02/26/2015 @ 22:37 EST The Global Currency Scalper closed the CAD/JPY position with a loss of 7.8 Pips.

As of 02/24/2015 @ 22:11 EST:

We have identified a possible short trade in CAD/JPY.  This pair has seen a big selloff since early December 2014 only to rebound to the 23.6% Fibonacci retracement level.  As you can see the CAD/JPY has been consolidating around this level for more than 2 weeks now.  With this battle between buyers and sellers raging it seems the sellers are going to prove to be more powerful. As evidence we point to the sudden thrust higher on February 17th of this year only to be rejected the very next day.  In our opinion this pair is getting ready to rollover.

The Global Currency Scalper is looking to short the CAD/JPY slightly higher than it's currently trading.  We will be initiating a short position at 95.400 with targets of 94.300 than the figure of 94.000 and eventually 93.500.  We will place a stop with a break of 96.500.  If this pair trades down to our first target without initiating our short position we will cancel our open order and look to do further evaluation.

New Signal USD/JPY

*Position Update:  As of 02/24/2015 @ 6:57 EST we liquidated our position in USD/JPY with a gain of 13.1 Pips.  Considering that in a few hours Janet Yellen gives her testimony to Congress and this position has finally turned profitable we figured we should play it from the conservative side and close it out.

As of 02/17/2015 @ 8:37 EST:

We have identified USD/JPY as a possible long trade.  This pair has enjoyed a very strong run since August of 2014, peaking out in December of 2014.  Since then it has been going sideways within a 500 Pip range, sooner or later this pair will breakout one way or the other.  In the meantime we look to trade it on potential short-term moves.  The USD/JPY tested last weeks low of 118.300 and has held indicating a bullish test.  Although the rise off last weeks low has been slow and steady, it's still a bullish test nonetheless.

The Global Currency Scalper will be going long USD/JPY with a break of 119.400, forecast of 120.300, 120.750 and the figure of 121.000 could be seen.  We will place a stop with a break of 117.900, if this pair trades through this level before initiating a position our view will turn neutral and further evaluation will be needed.

New Signal EUR/JPY

*Signal Update as of 02/17/2015 @ 7:54 EST:  The EUR/JPY has traded through our potential stop order, we have turned neutral on this pair and will seek further evaluation.

As of 02/16/2015 @ 21:20 EST:

We have identified a possible short trade in EUR/JPY.  This pair has been in a downtrend since December of 2014 but has recently had a nice bounce which was basically capped by the 23.6% Fibonacci level.  It made a run to the 38.2% Fibonacci level only to fail after a day or two.  The EUR/JPY is showing signs of rolling over, it seems the 23.6% Fibonacci level is just too strong.

We will be shorting EUR/JPY with a break of 133.520, forecasts will be 132.650, then the figure of 132.000 and eventually 131.000 and possible the near-term low of 130.140.  Our stop will be with a break of 135.600, if this pair trades through this level prior to initiating a position our view will turn neutral and further evaluation will be needed.

New Signal GBP/USD

*Position Update:  As of 02/18/2015 @ 6:51 EST The Global Currency Scalper liquidated its position in GBP/USD with a gain of 71.1 Pips.

*Signal Update:  As of 02/17/2015 @ 7:59 EST The Global Currency Scalper is keeping the same analysis and placing the orders listed below on GBP/USD.

*Signal Update:  As of 02/13/2015 @ 7:11 EST The Global Currency Scalper has cancelled its order on this pair ahead of the weekend and any possible news from Greece.  We will reevaluate on Sunday evening. 

As of 02/13/2015 @ 1:12 EST:

We have identified a possible long trade in GBP/USD.  The Pound looks set to continue higher against the US Dollar having taken out resistance at the top of a falling channel since September of last year.  A daily close above the 38.2% Fibonacci level of 1.55450 exposes the 50% level at 1.57340.

The Global Currency Scalper will be going long the GBP/USD on a pullback to 1.53580, targets will be 1.54780 then 1.55450 and eventually 1.57340.  We will place a stop with a break of 1.51900.

New Signal EUR/JPY

*Signal Update:  As of 02/13/2015 @ 7:11 EST The Global Currency Scalper has cancelled its order on this pair ahead of the weekend and any possible news from Greece.  We will reevaluate on Sunday evening. 

As of 02/12/2015 @ 20:17 EST:

We have identified EUR/JPY as a possible short trade.  This pair has been in a strong downtrend since last December and has recently bounced to the 23.6% Fibonacci retracement level.  With its latest attempt to rise towards the 38.2% level being rejected by sellers the EUR/JPY could be in for some trouble.  Although some consolidation can be expected, especially during the next few hours, if 134.650 can't hold it will be confirmation the sellers are overwhelming any attempt buyers may be making.  This Friday at 5:00 EST we get GDP numbers from the EU and recent global data is pointing to a poor reading.

The Global Currency Scalper will be taking a short position with a break of 134.580 with targets of the figure 134.000 then 133.680 and possibly as low as 132.500 to 133.000.  We will be placing our stop with a break of 136.750, if the EUR/JPY trades through this level prior to initiating a position our view will turn neutral and further evaluation will be needed.

New Signal AUD/JPY

*Signal Update:  As of 02/13/2015 @ 7:11 EST The Global Currency Scalper has cancelled its order on this pair ahead of the weekend and any possible news from Greece.  We will reevaluate on Sunday evening. 

As of 02/11/2015 @ 21:31 EST:

We have identified a possible short trade in AUD/JPY.  This pair has been in a downtrend since last November and has recently retraced to the 23.6% Fibonacci level.  After 6 days of trading around this level and the extremely poor employment numbers just released in Australia it looks like the bears are gaining control of this pair.

The Global Currency Scalper will be taking a short trade but we need to see a small rebound to 92.450 to happen first.  With the added volatility, courtesy of the employment data, we have a very good chance of getting our fill.  Targets will be 91.400, then the figure of 91.000 and eventually 90.700.  We will place a stop with a break of 93.150.

New Signal USD/SGD

*Signal Update:  As of 02/13/2015 @ 7:11 EST The Global Currency Scalper has cancelled its order on this pair ahead of the weekend and any possible news from Greece.  We will reevaluate on Sunday evening. 

As of 02/11/2015 @ 20:35 EST:

We have identified USD/SGD as a possible long trade.  As mentioned in one of yesterday's post we are not a fan of buying near tops or shorting near bottoms but this pair is making a compelling case if we can pay the right price.  The USD/SGD has been in an uptrend since last September and has been in a defined channel since October 2014.  Every pullback has been approximately 75 to 150 pips and we will be looking for a similar move.  Bulls are on firm footing since taking out the resistance at 1.35700 and this supportive tone should continue for the foreseeable future.

The Global Currency Scalper will be looking to take a long position in USD/SGD with a pullback to 1.35260, if this pair does not pullback in the next couple of days we will be cancelling our order and further evaluation will be given.  Targets are set at 1.36600 then the figure of 1.37000 beyond could see 1.37500.  Our stop will be placed with a break of 1.34150 which is just below the lows set on the last pullback just about a week ago.

New Signal AUD/USD

*Position Update:  As of 02/11/2015 @ 6:48 EST The Global Currency Scalper covered its short in AUD/USD for a profit of 43.8 Pips ahead of the first target which was the figure of 0.77000.

As of 02/10/2015 @ 22:21 EST:

We have identified a possible short trade in AUD/USD.  Although not a fan of trading at lows or highs we believe the risk to reward is justifiable with this pair.  After a long selloff from last August this pair has been consolidating down near it's lows for the past two week.  With very little to almost no signs of buyers stepping in over this two week period it lends to the sellers having the upper-hand.  We will be taking short position if a certain price level is breached but we will keep a relatively tight stop.

The Global Currency Scalper will take a short position in AUD/USD with a break of 0.77640 and targets will be the figure of 0.77000 then 0.76700 followed by 0.76150.  We will place our stop with a break of 0.78800, if this pair trades through this level prior to initiating a position our view will turn neutral and further analysis will be needed.

New Signal GBP/JPY

*Signal Update:  As of 02/11/2015 @ 7:19 EST The Global Currency Scalper has cancelled its open order on GBP/JPY as we do not see this pair pulling back to our entry price, the buyers have overwhelmed this pair ahead of our entry.

As of 02/10/2015 @ 19:05 EST:

We have identified GBP/JPY as a potential long trade.  This pair had a huge rally from the lows in October of 2014 and subsequently had a pullback to the 61.8% Fibonacci retracement level.  After a period of consolidation which lasted close to 3 weeks the GBP/JPY finally broke out to the upside.  While in the consolidation phase this pair was making lower highs as noted by the red line in the chart above.  The recent breakout has not run into much selling, only minor resistance was seen yesterday which coincided with the 38.2% Fibonacci level.  The pair has broken above this level and buyers seem to gaining momentum.

The Global Currency Scalper is looking for a short-term pullback and will be buyers on a dip to the 181.730 level.  Targets will be 182.460, 182.650, then the figure of 183.000.  We will be placing a stop at 180.700.

New Signal USD/JPY

*Position Update:  As of 02/11/2015 @ 6:49 EST The Global Currency Scalper sold its position in USD/JPY at 119.852 for a profit of 60.2 Pips, just ahead of the figure 120.000 which may act as significant resistance.

As of 02/10/2015 @ 10:10 EST:

We have identified USD/JPY as a possible long trade.  This pair is in the process of breaking out of it's base and is picking up steam.  We will not be chasing this pair, instead we will be buyers on a pullback assuming one comes.  The USD/JPY needs to hold 119.150 on a pullback to keep this breakout intact.  You can see this pair has had a great run since last August and has held the 23.6% Fibonacci retracement levels many times since.  The lower highers which were being established during the consolidation phase around the Fibonacci level has finally been broken and buyers have been stepping up.  Evidence of buyers can be found in the following days since the breakout occurred hasn't seen much of a pullback and today the price has moved above the initial breakout run.

The Global Currency Scalper will be going long USD/JPY on a pullback to the 119.250 level.  Targets will be the figure of 120.000, then 120.850.  We will set a stop at 118.450.

New Signal GBP/USD

As of 02/10/2015 @ 7:42 EST:

We have identified GBP/USD as a potential long trade.  Although the Global Currency Scalper does not normally like to take a trade against the long-term trend this pair is making a compelling case for a short-term move higher.  Since the sell-off from last August the GBP/USD has been moving sideways for the past month and hasn't made a real threat to break the 23.6% Fibonacci retracement level.  The most recent sideways action from 1.51600 to 1.53500 looks like short-term liquidation into a bullish base.  If the 1.51600 level can hold the recent base should be confirmed and a move higher should be in the cards.

The Global Currency Scalper will be taking a long position in GBP/USD with a break of 1.52850 with targets of 1.53500, then the figure (and also the 23.6% Fibonacci level) of 1.54000, higher could see 1.54780.  We will place a stop with a break of 1.51550, if this pair trades through this level prior to initiating a position our view will turn neutral and further evaluation will be needed.

New Signal USD/CHF

*Position Update:  As of 02/11/2015 @ 6:49 EST The Global Currency Scalper has covered its short position at 0.92642 for a loss of 35.5 Pips.  We may have grown impatient with this short position but after two other USD trades which resulted in solid profits we have decided to liquidate this position.

As of 02/09/2015 @ 9:26 EST:

We have identified a possible short trade in USD/CHF.  This pair has been consolidating it's huge down move from the SNB announcement a few weeks ago.  The consolidation has been taking place for about 9 days and the Global Currency Scalper feels this phase is about to come to an end with another move to the downside.  The downside pressure may be too great for buyers to overcome in the near future.

The Global Currency Scalper will be taking a short position with a break of 0.92250, a market order above this figure can be executed as well.  Forecast will be the figure of 0.92000, then 0.91650, the figure of 0.91000 and ultimately 0.90400.  We will be placing a stop with a break of 0.93500, if this level is traded prior to initiating a position our view will turn neutral and further evaluation will be needed.

New Signal EUR/JPY

*Signal Update:  As of 02/06/2015 9:45 EST:  The Global Currency Scalper has cancelled its open order on EUR/JPY heading into this weekend.  We will reevaluate Sunday evening on whether to send this order again.

As of 02/05/2015 @ 9:26 EST:

We have identified EUR/JPY as a possible long trade.  As you can see from the daily chart above this pair has sold-off over the past two months and has recently staged somewhat of a rebound, although that rebound has been held by the 23.6% Fibonacci level.  We feel this level is going to give way soon as buyers step back into the EUR/JPY.  After Tuesday run-up to that level and Wednesdays rejection buyers quickly stepped in and brought this pair more than half way back again.  This is evidence the sellers are not too strong anymore, only news (tomorrow's NFP) could cause buyers to take a step back once more.  Other evidence points to the weekly chart below.  You will see a very different picture as the EUR/JPY has enjoyed a stellar run-up from the lows in July of 2012.  With its recent pullback noted above you will see the pair has held the 38.2% Fibonacci level showing signs of buyers stepping up to the plate.

With the above analysis the Global Currency Scalper will be going long EUR/JPY with a break of 135.550 and set forecasts of the figure 136.000 then 136.600 and further still too 137.000 and 137.600 which is the 38.2% Fibonacci level.  We will set our stop with a break of 132.150, if this pair trades through this level prior to initiating a position we will turn neutral and further evaluation will be needed.

New Signal NZD/USD

*Trade Update:  As of 02/06/2015 @ 7:42 EST The Global Currency Scalper liquidated its NZD/USD position ahead of the all important NFP with a gain of 24.4 Pips.  This pair could move higher with this morning's announcement but we are not going to risk losing our profit which was a grind to achieve.

As of 02/03/2015 @ 4:13 EST:

We have identified a possible long trade in NZD/USD.  As you can see from the chart this pair has been trending down since July of 2014 but with this mornings spike down we may have reached an exhaustion level.  Within the next couple of hours we get unemployment data out of New Zealand and RBNZ Governor Wheeler speaking, our guess is he will be trying to prop up his currency.  This exhaustive move this morning could be signaling a short-term bounce may be at hand.

The Global Currency Scalper will be taking a long position in NZD/USD with a break of 0.74136 with forecast of 0.74970 which is the 23.6% Fibonacci level, beyond that we could see the figure of 0.76000 but one hurdle at a time.  We will place our stop with a break of 0.72279, if this pair trades through this level without initiating a position our view will turn neutral and further evaluation will be needed.

New Signal USD/JPY

*Signal Update:  As of 02/06/2015 9:47 EST:  The Global Currency Scalper has cancelled its open order on USD/JPY heading into this weekend.  We will reevaluate Sunday evening on whether to send this order again.

As of 02/02/2015 @ 9:12 EST:

We have identified USD/JPY as a possible long trade.  As you can see from the chart above this pair has been in consolidation mode for the past couple of weeks, centered around the 23.6% Fibonacci retracement level.  The overall trend is clearly to the upside and we believe that buyers will step back into the USD/JPY on a break to the upside, of course news that negatively affects the US Dollar could cause a breakdown out of this consolidation.

The Global Currency Scalper will be taking a long position on a break of 119.130 with targets of 119.800, then the figure of 120.000 and eventually 120.700.  We will placing a stop with a break of 116.800, if this pair trades through 116.800 our view will turn neutral and further evaluation will be needed.

New Signal GBP/JPY

*Position Update:  As of 02/03/2015 @ 21:47 The Global Currency Scalper was stopped out of its GBP/JPY short trade with a loss of 286 Pips. With the news from Greece making the Pound and the Euro rally strongly today we never had a chance to cover with a profit as it proved to be a false breakout.

As of 02/01/2015 @ 19:17 EST:

We have identified GBP/JPY as a potential short trade.  This pair has been forming a descending triangle for the past few weeks with the 61.8% Fibonacci level acting as support.  If this descending triangle is broken it could signal stronger downside potential.

The Global Currency Scalper will be shorting the GBP/JPY with a break of 175.560 and our targets are the figure of 175.000, then 174.670 with a potential move to the next figure of 174.000.  We will be setting a stop with a break of 178.450, if this pair trades through this price prior to initiating a position we will turn neutral and further evaluation will be needed.

New Signal EUR/AUD

*Position Update: As of 02/02/2015 @ 22:32 The Global Currency Scalper liquidated its EUR/AUD position after the interest decision by the RBA.  We booked a profit of 48.9 Pips.

As of 02/01/2015 @ 18:44 EST:

We have recognized a possible long trade in EUR/AUD.  The Global Currency Scalper is looking to go long if a certain price is taken out which should attract buyers.  As you can see this pair has been pretty choppy, with a clear sign of resistance before the solid run north which started in November of 2014.  A big pullback followed, which started in mid December of 2014 but held the low set in September of 2014.  This pair has currently come right back to that resistance area as it's consolidating about the 50% Fibonacci level.

The Global Currency Scalper will be going long EUR/AUD with a break of 1.46910 which should attract buyers and eventually see a run to 1.47420 which is the 38.2% Fibonacci level and if it can get through that we could see this pair trade up to 1.47660 which is the high set back in early January of this year.  We will be placing our stop with a break of 1.43890, if this pair breaches this level prior to initiating a position our view will turn neutral and further evaluation will be needed.

Jan 2015 Trading Performance

As of 01/31/2015 @ 17:00 EST:

The Global Currency Scalper had a total of 13 trades, with 12 winners and 1 loser.  We pulled out a total of 117 Pips as shown by the chart above which was offered by Zulutrade.  To follow us on Zulutrade please click the banner on the right of our blog or simply click the following link:

https://www.zulutrade.com/trader/260851