The Cable.

Good morning Forex Traders,

Todays chart is of the GBPUSD on the daily timeframe.

With the smaller and intermediate term trends being up I am looking for a possible long position on this pair due to the fact that there is a false bar on the GetStochastics and price action on the image below is moving up.

The weekly chart of the same is also up as expected but the caution here is that a hanging man candle was formed on the last bar around the figure.

RSI is not overbought as yet but be aware that if the up move occurs it may be limited due to divergence happening on the lower timeframes and so a possible 123/DT may happen but there is possible room for a well managed trade.

Please ensure to do your own analysis before entering any trades.

Charts courtesy of AdvancedGet.

Good luck for today.

Clayton Farnworth.

The Euro Australian Dollar.

Good morning Forex Traders,

The weekly chart of the EURAUD has shown a spinning top candle formation at the V.I. and strong former resistance.

The daily chart of the same below is showing this resistance zone and also I have put on the convergence applying to the MACD indicator which is at a strong figure.

Although not in a position to trade using ESLT as yet it may well be soon and so should be kept on the watchlist for the near future with either a break up of the trendline or a further break down of the current support.

As always please ensure to do your own analysis before taking any trades.

Charts courtesy of AdvancedGet.

Wishing profitable trading.

Clayton Farnworth.

The Euro Canadian Dollar.

Good morning Forex Traders,

Todays chart of the EURCAD is on the daily timeframe, and although it has hit a fibonnacci reversal area yesterday with a doji candle formation at former resistance, there is a stronger resistance area further south which incorporates a fibonnacci cluster and figure area, albeit due to the volatity of this cross the stronger figure below this could also be attained.

I shall keep this on my watchlist to use ESLT should my confluences accrue and the situation is relevant for the retracement/reversal as I think the squeeze here at present could break to the afore mentioned levels for support.

As always patience is needed and please ensure to do your own analysis before taking any trades.

Charts courtesy of AdvancedGet.

Enjoy your trading.

Clayton Farnworth.

The Pound Swiss Franc review.

Good morning Forex Traders,

Today will just be a review of yesterdays post of the GBPCHF.

Price closed above former resistance having moved a further 100 or so pips from when mentioned yesterday before then coming back down to the resistance level where it currently sits in conjunction with the trendline on the four hour timescale chart (not shown), but is also showing divergence on the MACD indicator.

Action is currently battling with the figure and then has more resistance due north as mentioned yesterday with the V.I. but strength could be building in this pair and so use discretion with your trusted confluences to make your decision.

As always please do your own analysis before taking any trades.

I will not be posting tomorrow so have a great weekend and good luck with your trading.

Charts courtesy of TradeStation.

Always have fun with your trading.

Clayton Farnworth.
FX Technical Trader.

The Pound Swiss Franc.

Good afternoon Forex Traders,

Today I would like to bring to your attention the GBPCHF on the daily timeframe.

A possible continuation north could be about to happen as todays break is also in the DD buy zone area.

One thing to be aware of however is that the V.I. does lie just north and should price reach this then possible resistance could be encountered.

However there is about 300 pips before that point should this move take place.

The RSI indicator is pointing up and is also above 50 and from your 'Dynamic Trader' mentoring and webinars you should also see that some strength may be coming into this move.

As always please do your own analysis before taking any trades.

Charts courtesy of TradeStation.

Good luck with your analysis and trading.

Clayton Farnworth.
FX Technical Trader.

The Euro Pound.

Good morning Forex Traders,

Todays chart on the EURGBP, is on the four hour timeframe, and has been hanging around the figure in a downtrend on this timescale.

It is currently in the tight confines of the trendlines with an RSI below 50 after retracing to the higher breather level.

I am looking for a possible continuation south as the daily is still in a position of DD.

Await a break of this timeframes confines and should your confluences be such that they warrant the trade enter accordingly.

As always please do your own analysis before taking any trades.

Charts courtesy of TradeStation.

Good luck.

Clayton Farnworth.
FX Technical Trader.

The New Zealand Dollar.

Good afternoon Forex Traders,

A late post today, but hopefully one for the watchlist.

The chart on the NZDUSD on the four hour timeframe is now coming into a position for me to keep on my watchlist.
It is showing a wave 5 in progress in AdvancedGet and also some confluences to tie in with this.

Some of these confluences are the divergences occurring with the MACD indicator starting from the 11th of May.

Also in the picture is the AdvancedGet MOB further north which ties in with the figure.

Although currently stalling at a fibonaaci area I do think the higher cluster culminating with the MOB is more favourable, so possibly a little time left yet.

Use all the tools at your disposal whilst doing your own analysis and you could well find the retracement/reversal area for good pickings.

Charts courtesy of AdvancedGet.

Have a great Bank Holiday Weekend.

Clayton Farnworth.
FX Technical Trader.

The Euro Swiss Franc.

Good morning Forex Traders,

The chart below of the EURCHF daily timeframe, could perhaps be showing the break I have been waiting for.

As can be seen the price action appears to be breaking free of the resistance trendlines although this is not confirmed yet.

Whilst in the restraints of this channel the trendlines have held action for about two months now but on closer analysis the V.I. lies not to far north.

To trade this use your lower timeframes accordingly to see if the V.I. can be reached and thereafter re analyse, and when appropriate use your filters.

As always please do your own analysis before taking any trades.

Charts courtesy of TradeStation.

Always enjoy your trading.

Clayton Farnworth.
FX Technical Trader.

The New Zealand Dollar Japanese Yen intraday.

Good morning Forex Traders,

Today chart of the NZDJPY is on the lower timeframe of the sixty minute timescale for you intraday traders.

I am looking at a possible long trade for quicker profits to be locked in and managed accordingly at an earlier stage.

price action rose from the 18th May to the 19th May before retracing to what AdvancedGet is showing as a possible wave 4 completion, which rested at the V.I. clustering with a fibonacci cluster as well.

RSI is also showing strength as it is heading up and is greater than fifty, and to add to the confluences Stochastics is in an upward pointing position after coming out of OS territory and has a false bar to the upside indicating possible further movement to the north.

Further confirmation maybe gained from the candlestick pattern here thus giving us more odds in our favour.

As always please ensure to do your own analysis before taking any trades.

Charts courtesy of AdvancedGet.

Good luck for today.

Clayton Farnworth.
FX Technical Trader.

The Euro Dollar.

Good afternoon Forex Traders,

Today I want to look at the EURUSD on the daily timeframe,which does seem to be trying desperately to change its trend, which at present is shorter and medium term up whilst the longer term is down.

However this pair is trying hard to turn around after the huge fall from the middle of last year and the battle for this pair currently is that it is in a DT scenario and fighting the V.I. to boot and a breather level and figure area.

Price action is currently trying to enter the buy zone of DD and should it close here then patience could be in order until this resistance is broken should it happen, and then traded with the Dynamic Trader rules, otherwise should the downtrend resume trade this accordingly.

Charts courtesy of AdvancedGet.

Good luck trading.

Clayton Farnworth.
FX Technical Trader.