Forex Archives | Peter Brandt

Currency Review

March 2, 2020/by Peter Brandt

(This is a short excerpt from the past weekend premium member report published Friday the 28th)

GBP/JPY (spot)

A continuation rectangle was completed on Friday. I missed this trade. I did not get the order in.

Foreign Exchange Idea’s on Watch

November 25, 2019/by Peter Brandt

(This is an excerpt from the past weekend premium member report published last Friday morning the 22nd)

NZD/USD (CME)

The daily closing price chart provides a clearer picture of the possible inverted H&S bottom than does the daily bar or candlestick chart. I am interested in the long side of NZD.

This Forex pair once again completed an 11-month falling wedge (a diagonal pattern). Factor established a long position on Friday. I have low expectations for this trade – that could be a good sign. There is the potential for a significant bull trend based on the long-term chart.

Canadian Dollars (CME)

This discussion will bring Factor members back to Jun 2017. The advance in Mar 2016 violated a multi-year parabola. Following the initial rally from the violated parabola, the market corrected in the form of a 13-month channel. The completion of this channel in Jun 2016 produced a 785 BP trading profit for the Factor Tracking Account.

Another channel is forming in the C$. This is a diagonal pattern, so I am cautious. Keep in mind that long CAD futures (the value of the CAD expressed in USD) is the same trade as short spot USD/CAD (the number of CAD that can be purchased by one USD). See the daily chart of futures and spot.

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Some Possible Forex Ideas

February 11, 2019/by Peter Brandt

Here are just a couple of sample Forex possibilities from the past weekend member report.

GBP/NOK

This forex cross continues to display a possible 28-month ascending triangle. I really like this pattern – but I do not like the volatility that Brexit is likely to create with any trade involving the British Pound. I am willing to go with an upside breakout of this pattern, but sized small (perhaps as small as 20,000 GPB/NOK per $200k of trading capital).

This cross is forming a possible rounding or complex H&S top. I am watching this cross carefully for a trading opportunity. This cross should be immune from the craziness of Brexit.

USD/JPY

I am displaying a chart of USD/JPY as a reference point for JPY because of my interest in CHF/JPY. If there is a pattern, I like less than a prolonged symmetrical triangle on a daily chart it is a prolonged symmetrical triangle on a weekly or monthly graph. Nevertheless, USD/JPY is coiling. Factor is flat – I have no trading interest in the Yen.