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