200 pips before breakfast

Take a look at this chart of the GBPCHF pair.

After the big Cable sell off yesterday, following the BOE statement suggesting further interest rate cuts are not to be expected, a bounce back was expected. It happened on Cable and then the GC obliged today.

There are several other factors on this chart that gave the heads up that a good move was due, can you pick them out?

Chart of the day

Now that the USD CAD rewarded us with several hundred pips, we are now long the USDJPY.

Notice the clear break above last weeks price action that may well have the same potential as the last trade.

There is also a close correlation between this pair and the US S&P 500, when this one moves up, so does the S&P!

Take off

The USDCAD took off today as expected, we like to take profits along the way and add back in as price moves on. Could be a lot more to go with this pair.

CAD getting ready

The USDCAD, or the Loonie as it's known, didn't take part in the volatility that produced massive moves in the major currencies starting Sunday night.

Whilst the $US has been weak against Euro, Swiss and Yen, the CAD has been bouncing around in a trading range that's getting wider.

Right now the chart shows it is up against a Fib resistance area but the trend is still up for the USD against the CAD and when this range breaks, expect some excellent moves.

What a move that was....

The GBPCHF followed through in grand style producing over 900 pips in one seemless move.
Once it completed, we have seen very tradeable rallies that produced 350 pips today! Using some simple to learn techniques anyone can learn to trade these markets with very little risk.

GC makes it's move

The GBPCHF pair regularly moves through 250+ pips a day and so it's great for day and swing trading.

It made a move to the downside today and we expect much lower levels.

Cable on the move

The British Pound has been pushing at the highs at 2.02 all day and has now finally moved higher.

Rally potential

The Swiss has moved to an interesting pattern this morning that has the potential to push price back from it's oversold state. One theo watch today.

Cable makes it move...

At long last Cable has made the move expected from last week.

The pattern suggest we will see much higher levels but beware of the Non Farm Payroll report tomorrow.

This report comes out at 1.30pm UK time on the first Friday of every month and this one report can send markets spinning in either direction. For some it is good day to go play Golf, for others it is one of the best day trading opportunities if the month!

About turn...

The Eur0 promptly reversed yesterday and made an explosive up move that day traders were able to exploit.

Pattern break out

The Euro has been consolidating for some time now and, for now, it's resolved on the downside.

Lower levels should be seen as this pattern has potential to unwind a major part of the previous bull leg. Cable has a similar pattern and that has also broken downward today.