AUDUSD; Long since 3/12 up over 75 pips so far. OUT signal will be in place if it %R crosses below -20. That way we let profits run but avoid big give back when it reverses, which it will, since is on a trading range from November. Last four times that %R crossed below -20, the pair dropped an average of 250 pips in each occasion. EURUSD: Long since 3/14 seems to be a right call. The pair definitely is trending up. GPBUSD: The lagging indicator gave a bearish signal around 3/1. Good one so far. It moved down more than 400 pips within 3 - 4 days. It is rebounding somehow since then. When crossover above -50 %R occurs, it will be advisable to take profits. The author is clueless as why the Pound is going down while the Euro is trending up. It looks that they will synchronize the up move pretty soon. USDCHF: Indicator bearish and right. Except that the pair has the habit of spiking up 250 in a blink. The author will use a highest of the high of the last three bars to avoid disaster. USDCAD: The lagging indicator is bullish since 3/1. The author held that call until 3/9 but wrongly gave the OUT signal on 3/9. He became clueless on a 125 pips drop and confusing readings and warning drop of %R. He is doing that for many years. EURJPY and GBPJPY: Indicator bearish⦠kind of make sense. The yen is gaining against the Euro and Pound since January but it seems to be coming to an end now or pretty soon. The author does not trade the GBPJPY, with a high spread of 11 pips, he will be in a hole right away. Signals and charts at glance will follow in a couple of hours after a dinner engagement. As of 3:20 P.M. (PST) 22:20 GMT or about, the only LONGS so far stay with EURUSD and AUDUSD. The rest mostly OUT and will see by 24:00 GMT which ones if any are still SHORT. Best! mF
FOREX Signals Mar 19, 2007 Note on AUDUSD: Showing a strong up move About 200 pips since the recent Buy signal. It took the 2004 High and now is working on the 1996 High of .8173. It may reverse any time, that's why on any drop of %R below -20 is recommended to take profits. Not before, in case it continues the up move. Only if it drops, since it broke resistance. Any thing is possible. This currency used to cost $1.31 back in 1979-1980
FOREX Signals, March 20, 2007 USDCAD: Wrong signal, at the wrong time. Thank goodness for the people that preach STOPS, the loss was limited to few pips. The author dislikes the idea of reversing the signal but the drop is dramatic, almost 200 pips overnight. This reversal signal may prove to be wrong too. But we cannot fight the market. Standing aside is good too, there are more pairs to trade. AUDUSD: Hitting new highs, beautiful. Keep in mind any drop of %R below -20, to bail out. USDCHF: Short working nicely. At one point ahead more than 160 pips. For bailing out with a profit look for the %R crossing ABOVE -50, eventually it will. USDJPY: Figting back. Ditto, weakness of Dollar. The lagging indicator still bearish, that's the reason for the RED signal. On any strenght of the Dollar all these pairs reverse. Stops should be in place to protect profits and/or %R oscillator's readings. It's a good barometer. Best! mF