forex618.net daily currency strategy

[forex618]

Daily Currency report for Friday March 23 2007

Get our new G7 Forex system for yourself (FREE E-book!)

Please visit www.forex-science.com for more information

This Week's Economic Calendar
--------------------------------------------------------------------------------
Date ET Release For Actual Briefing.com Consensus Prior Revised From
Mar 20 08:30 Housing Starts Feb 1475K 1440K 1408K
Mar 20 08:30 Building Permits Feb 1530K 1560K 1571K
Mar 21 10:30 Crude Inventories 03/16 NA NA 1180K
Mar 21 14:15 FOMC policy statement
Mar 22 08:30 Initial Claims 03/17 320K 325K 318K
Mar 22 10:00 Leading Indicators Feb -0.6% -0.3% 0.1%
Mar 23 10:00 Existing Home Sales Feb 6.30M 6.35M 6.46M

--------------------------------------------------------------------------------

EUR/USD

Weekly Trend direction: Bullish

Weekly trend reversal level: 1.3070

Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after an entry signal.

Medium term: The euro has broken above the large flag formation which has dominated the technical picture in 2006. Now, whilst above 1.2900 (1.2800 max), the euro remains in an uptrend which is heading back towards 1.3600, the multi-year high, and possibly higher still, towards 1.4100.

Today's trade suggestion: We have retraced 100 points from yesterday's highs to 1.3300 - nothing to be too concerned about and well within normal corrective price action. Remembering that we are more likely to see sudden price swings the closer we get to 1.3500/1.3600 (historically extreme levels) we will allow for more of the same today. Dips "should" try to hold above 1.3280, but the danger of a slip to 1.3250 or 1.3200 cannot be ruled out. Try buying at 1.3280/1.3300, stops below 1.3250, but be prepared to re-buy at 1.3240, stops below 1.3200. Have a fantastic weekend!

Key G7 Support levels: 1.3280, 1.3250, 1.3200

"Set and forget" entry: BUY 1.3280, stop 1.3230, target 1.3400. Re-buy 1.3210, stop 1.3170.

Counter-trend opportunities: None

EUR/USD Hourly chart:



EUR/USD Weekly chart:

[forex618]

Daily Currency report for Monday March 26 2007

Get our new G7 Forex system for yourself (FREE E-book!)

Please visit www.forex-science.com for more information

This Week's Economic Calendar
--------------------------------------------------------------------------------
Date ET Release For Actual Briefing.com Consensus Prior Revised From
Mar 26 10:00 New Home Sales Feb 1000K 995K 937K
Mar 27 10:00 Consumer Confidence Mar 108.5 109.0 112.5
Mar 28 08:30 Durable Orders Feb 3.0% 3.0% -7.8%
Mar 28 10:30 Crude Inventories 03/23 NA NA 3924K
Mar 29 08:30 Initial Claims 03/24 320K NA 316K
Mar 29 08:30 GDP-Final Q4 2.2% 2.2% 2.2%
Mar 29 08:30 Chain Deflator-Final Q4 1.7% 1.7% 1.7%
Mar 29 10:00 Help-Wanted Index Feb 32 31 32
Mar 30 08:30 Personal Income Feb 0.3% 0.3% 1.0%
Mar 30 08:30 Personal Spending Feb 0.3% 0.3% 0.5%
Mar 30 09:45 Chicago PMI Mar 49.5 49.5 47.9
Mar 30 10:00 Construction Spending Feb -0.3% -0.6% -0.8%
Mar 30 10:00 Mich Sentiment-Rev. Mar 88.8 88.8 88.8

--------------------------------------------------------------------------------

EUR/USD

Weekly Trend direction: Bearish

Weekly trend reversal level: 1.3420

Strategy: Whilst above the weekly trend reversal level, sell rallies to resistance levels after an entry signal.

Medium term: The euro has broken above the large flag formation which has dominated the technical picture in 2006. Now, whilst above 1.2900 (1.2800 max), the euro remains in an uptrend which is heading back towards 1.3600, the multi-year high, and possibly higher still, towards 1.4100.

Today's trade suggestion: A weekly "spike high" and a break below that candle today has placed a bearish emphasis on the euro, which could take the price substantially lower. Support comes in all the way between 1.3200 and 1.2900, and it is quite possible that we are heading to the lower part of that range. Because we are at historically very high levels and because we have seen relatively small moves for the past few weeks, the danger of a sudden slide is growing. Today, sell rallies to 1.3320/40 stops above 1.3350, or try small counter trend buys around 1.3250 with tight trailing stops.

Key G7 Resistance levels: 1.3330, 1.3420

"Set and forget" entry: BUY 1.3250, stop 1.3230, target 1.33.20. SELL 1.3320, stop 1.3365, target 1.3250

Counter-trend opportunities: N/A

EUR/USD Hourly chart:



EUR/USD Weekly chart:

[forex618]

Daily Currency report for Tuesday March 27 2007

Get our new G7 Forex system for yourself (FREE E-book!)

Please visit www.forex-science.com for more information

This Week's Economic Calendar
--------------------------------------------------------------------------------
Date ET Release For Actual Briefing.com Consensus Prior Revised From
Mar 26 10:00 New Home Sales Feb 1000K 995K 937K
Mar 27 10:00 Consumer Confidence Mar 108.5 109.0 112.5
Mar 28 08:30 Durable Orders Feb 3.0% 3.0% -7.8%
Mar 28 10:30 Crude Inventories 03/23 NA NA 3924K
Mar 29 08:30 Initial Claims 03/24 320K NA 316K
Mar 29 08:30 GDP-Final Q4 2.2% 2.2% 2.2%
Mar 29 08:30 Chain Deflator-Final Q4 1.7% 1.7% 1.7%
Mar 29 10:00 Help-Wanted Index Feb 32 31 32
Mar 30 08:30 Personal Income Feb 0.3% 0.3% 1.0%
Mar 30 08:30 Personal Spending Feb 0.3% 0.3% 0.5%
Mar 30 09:45 Chicago PMI Mar 49.5 49.5 47.9
Mar 30 10:00 Construction Spending Feb -0.3% -0.6% -0.8%
Mar 30 10:00 Mich Sentiment-Rev. Mar 88.8 88.8 88.8

--------------------------------------------------------------------------------

EUR/USD

Weekly Trend direction: Bearish

Weekly trend reversal level: 1.3420

Strategy: Whilst above the weekly trend reversal level, sell rallies to resistance levels after an entry signal.

Medium term: The euro has broken above the large flag formation which has dominated the technical picture in 2006. Now, whilst above 1.2900 (1.2800 max), the euro remains in an uptrend which is heading back towards 1.3600, the multi-year high, and possibly higher still, towards 1.4100.

Today's trade suggestion: Up to 1.3340 as expected as people realise that the US housing numbers are not improving at all and that it might not be possible to hold/raise rates. Now things begin to get tricky as short term bullish momentum collides with weekly hesitation at historically extreme levels. Try small shorts at 1.3330, stops above 1.3360, targeting 1.3250. Exit here and watch for signs of basing again. Trading is not going to be easy as we approach month end, so trade with caution and consider standing aside if you can.

Key G7 Resistance levels: 1.3330, 1.3420

"Set and forget" entry: SELL 1.3330, stop 1.3360, target 1.3250.

Counter-trend opportunities: N/A

EUR/USD Hourly chart:



EUR/USD Weekly chart:

[forex618]

Daily Currency report for Wednesday March 28 2007

Get our new G7 Forex system for yourself (FREE E-book!)

Please visit www.forex-science.com for more information

This Week's Economic Calendar
--------------------------------------------------------------------------------
Date ET Release For Actual Briefing.com Consensus Prior Revised From
Mar 26 10:00 New Home Sales Feb 1000K 995K 937K
Mar 27 10:00 Consumer Confidence Mar 108.5 109.0 112.5
Mar 28 08:30 Durable Orders Feb 3.0% 3.0% -7.8%
Mar 28 10:30 Crude Inventories 03/23 NA NA 3924K
Mar 29 08:30 Initial Claims 03/24 320K NA 316K
Mar 29 08:30 GDP-Final Q4 2.2% 2.2% 2.2%
Mar 29 08:30 Chain Deflator-Final Q4 1.7% 1.7% 1.7%
Mar 29 10:00 Help-Wanted Index Feb 32 31 32
Mar 30 08:30 Personal Income Feb 0.3% 0.3% 1.0%
Mar 30 08:30 Personal Spending Feb 0.3% 0.3% 0.5%
Mar 30 09:45 Chicago PMI Mar 49.5 49.5 47.9
Mar 30 10:00 Construction Spending Feb -0.3% -0.6% -0.8%
Mar 30 10:00 Mich Sentiment-Rev. Mar 88.8 88.8 88.8

--------------------------------------------------------------------------------

EUR/USD

Weekly Trend direction: Bearish

Weekly trend reversal level: 1.3420

Strategy: Whilst above the weekly trend reversal level, sell rallies to resistance levels after an entry signal.

Medium term: The euro has broken above the large flag formation which has dominated the technical picture in 2006. Now, whilst above 1.2900 (1.2800 max), the euro remains in an uptrend which is heading back towards 1.3600, the multi-year high, and possibly higher still, towards 1.4100.

Today's trade suggestion: The euro has edged up slightly to 1.3360 after a very quiet day except in the cross rate markets. Although dollar weakness appears to be re-asserting itself against the Asian currencies, this is not the case in the majors. Our analysis therefore remains unchanged again: Now things begin to get tricky as short term bullish momentum collides with weekly hesitation at historically extreme levels. Try small shorts at 1.3350, stops above 1.3380, targeting 1.3250. Exit here and watch for signs of basing again. Trading is not going to be easy as we approach month end, so trade with caution and consider standing aside if you can.

Key G7 Resistance levels: 1.3370, 1.3420

"Set and forget" entry: SELL 1.3355, stop 1.3385, target 1.3255

Counter-trend opportunities: N/A

EUR/USD Hourly chart:



EUR/USD Weekly chart:

[forex618]

Daily Currency report for Thursday March 29 2007

Get our new G7 Forex system for yourself (FREE E-book!)

Please visit www.forex-science.com for more information

This Week's Economic Calendar
--------------------------------------------------------------------------------
Date ET Release For Actual Briefing.com Consensus Prior Revised From
Mar 26 10:00 New Home Sales Feb 1000K 995K 937K
Mar 27 10:00 Consumer Confidence Mar 108.5 109.0 112.5
Mar 28 08:30 Durable Orders Feb 3.0% 3.0% -7.8%
Mar 28 10:30 Crude Inventories 03/23 NA NA 3924K
Mar 29 08:30 Initial Claims 03/24 320K NA 316K
Mar 29 08:30 GDP-Final Q4 2.2% 2.2% 2.2%
Mar 29 08:30 Chain Deflator-Final Q4 1.7% 1.7% 1.7%
Mar 29 10:00 Help-Wanted Index Feb 32 31 32
Mar 30 08:30 Personal Income Feb 0.3% 0.3% 1.0%
Mar 30 08:30 Personal Spending Feb 0.3% 0.3% 0.5%
Mar 30 09:45 Chicago PMI Mar 49.5 49.5 47.9
Mar 30 10:00 Construction Spending Feb -0.3% -0.6% -0.8%
Mar 30 10:00 Mich Sentiment-Rev. Mar 88.8 88.8 88.8

--------------------------------------------------------------------------------

EUR/USD

Weekly Trend direction: Bearish

Weekly trend reversal level: 1.3420

Strategy: Whilst above the weekly trend reversal level, sell rallies to resistance levels after an entry signal.

Medium term: The euro has broken above the large flag formation which has dominated the technical picture in 2006. Now, whilst above 1.2900 (1.2800 max), the euro remains in an uptrend which is heading back towards 1.3600, the multi-year high, and possibly higher still, towards 1.4100.

Today's trade suggestion: Dropping from 1.3370 as expected, and we have corrected 61.8% of the rally this week. There is a chance we will not drop lower than 1.3300 today and this is seen as an opportunity to buy euros again for a move to 1.3370. Remember that technical levels are not clear and the market is in ranging mode, so we will continue to look to buy low and sell high.

Key G7 Resistance levels: 1.3370, 1.3420

"Set and forget" entry: BUY 1.3320, stop 1.3290, target 1.3370

Counter-trend opportunities: N/A

EUR/USD Hourly chart:



EUR/USD Weekly chart:

[forex618]

G7 Trading by Forex-Science

Important: All trade ideas in this report should be read with our G7 trading system in mind, and traders should only enter the market when G7 trade entry setups are seen. For more information visit www.forex-science.com


--------------------------------------------------------------------------------

Daily Currency report for Friday March 30 2007

Get our new G7 Forex system for yourself (FREE E-book!)

Please visit www.forex-science.com for more information

This Week's Economic Calendar
--------------------------------------------------------------------------------
Date ET Release For Actual Briefing.com Consensus Prior Revised From
Mar 26 10:00 New Home Sales Feb 1000K 995K 937K
Mar 27 10:00 Consumer Confidence Mar 108.5 109.0 112.5
Mar 28 08:30 Durable Orders Feb 3.0% 3.0% -7.8%
Mar 28 10:30 Crude Inventories 03/23 NA NA 3924K
Mar 29 08:30 Initial Claims 03/24 320K NA 316K
Mar 29 08:30 GDP-Final Q4 2.2% 2.2% 2.2%
Mar 29 08:30 Chain Deflator-Final Q4 1.7% 1.7% 1.7%
Mar 29 10:00 Help-Wanted Index Feb 32 31 32
Mar 30 08:30 Personal Income Feb 0.3% 0.3% 1.0%
Mar 30 08:30 Personal Spending Feb 0.3% 0.3% 0.5%
Mar 30 09:45 Chicago PMI Mar 49.5 49.5 47.9
Mar 30 10:00 Construction Spending Feb -0.3% -0.6% -0.8%
Mar 30 10:00 Mich Sentiment-Rev. Mar 88.8 88.8 88.8

--------------------------------------------------------------------------------

EUR/USD

Weekly Trend direction: Bearish

Weekly trend reversal level: 1.3420

Strategy: Whilst above the weekly trend reversal level, sell rallies to resistance levels after an entry signal.

Medium term: The euro has broken above the large flag formation which has dominated the technical picture in 2006. Now, whilst above 1.2900 (1.2800 max), the euro remains in an uptrend which is heading back towards 1.3600, the multi-year high, and possibly higher still, towards 1.4100.

Today's trade suggestion: After being in an 80 pip range for three days, there is not a lot to add to the picture. Expect a large move today as we end the month, positions are squared, and a raft of US data is released later. The weekly picture continues to look bearish, but the overall trend is still upwards, so there may be opportunities to buy low or the sell high. Watch for signs of topping at 1.3380/1.3400 or signs of basing between 1.3250 and 1.3150, if we get a sudden move lower. It is probably best to wait this one out and to enter the market early next week after the month end move has settled down.

Key G7 Resistance levels: 1.3370, 1.3420

"Set and forget" entry: BUY 1.3200, stop 1.3130, target 1.3350. SELL 1.3370, stop 1.3430, target 1.3200.

Counter-trend opportunities: as above.

EUR/USD Hourly chart:



EUR/USD Weekly chart:

[forex618]

G7 Trading by Forex-Science

Important: All trade ideas in this report should be read with our G7 trading system in mind, and traders should only enter the market when G7 trade entry setups are seen. For more information visit www.forex-science.com


--------------------------------------------------------------------------------

Daily Currency report for Monday April 02 2007

Get our new G7 Forex system for yourself (FREE E-book!)

Please visit www.forex-science.com for more information

This Week's Economic Calendar
--------------------------------------------------------------------------------
Date ET Release For Actual Briefing.com Consensus Prior Revised From
Apr 02 10:00 ISM Index Mar 52.5 51.0 52.3
Apr 03 17:00 Auto Sales Mar 5.2M 5.1M 5.1M
Apr 03 17:00 Truck Sales Mar 7.6M 7.6M 7.7M
Apr 04 10:00 Factory Orders Feb 1.8% 2.0% -5.6%
Apr 04 10:00 ISM Services Mar 55.0 54.7 54.3
Apr 04 10:30 Crude Inventories 03/30 NA NA -846K
Apr 05 08:30 Initial Claims 03/31 315K NA 308K
Apr 06 08:30 Nonfarm Payrolls Mar 150K 120K 97K
Apr 06 08:30 Unemployment Rate Mar 4.6% 4.6% 4.5%
Apr 06 08:30 Hourly Earnings Mar 0.3% 0.3% 0.4%
Apr 06 08:30 Average Workweek Mar 33.8 33.8 33.7
Apr 06 10:00 Wholesale Inventories Feb 0.4% 0.4% 0.7%
Apr 06 15:00 Consumer Credit Feb $5.5B $5.0B $6.4B

--------------------------------------------------------------------------------

EUR/USD

Weekly Trend direction: Bearish

Weekly trend reversal level: 1.3420

Strategy: Whilst above the weekly trend reversal level, sell rallies to resistance levels after an entry signal.

Medium term: The euro has broken above the large flag formation which has dominated the technical picture in 2006. Now, whilst above 1.2900 (1.2800 max), the euro remains in an uptrend which is heading back towards 1.3600, the multi-year high, and possibly higher still, towards 1.4100.

Today's trade suggestion: Difficult trading conditions as we oscillate around the top of the recent range and near long term resistance levels at 1.3400. Despite the previous week's "spike high" candle, last week's market did not follow through to the downside, and this means that there is now an equal chance of a move in either direction. It is worth remembering that we now begin a new quarter, so it is likely that we will begin to find a direction this week, especially with the jobs report being released on Friday. Continue to try shorts whilst below 1.3420, with a target near 1.3200. Above 1.3420 means we are moving higher to 1.3500 and 1.3700. Try selling on signs of topping at around 1.3390/1.3400, stops above 1.3420, with aggressive traders prepared to reverse to long at the same time for 1.3500.

Key G7 Resistance levels: 1.3370, 1.3420

"Set and forget" entry: SELL 1.3400, stop/reverse 1.3435, target 1.3200 or 1.3500.

Counter-trend opportunities: as above.

EUR/USD Hourly chart:



EUR/USD Weekly chart:

[forex618]

Daily Currency report for Tuesday April 03 2007

Get our new G7 Forex system for yourself (FREE E-book!)

Please visit www.forex-science.com for more information

This Week's Economic Calendar
--------------------------------------------------------------------------------
Date ET Release For Actual Briefing.com Consensus Prior Revised From
Apr 02 10:00 ISM Index Mar 52.5 51.0 52.3
Apr 03 17:00 Auto Sales Mar 5.2M 5.1M 5.1M
Apr 03 17:00 Truck Sales Mar 7.6M 7.6M 7.7M
Apr 04 10:00 Factory Orders Feb 1.8% 2.0% -5.6%
Apr 04 10:00 ISM Services Mar 55.0 54.7 54.3
Apr 04 10:30 Crude Inventories 03/30 NA NA -846K
Apr 05 08:30 Initial Claims 03/31 315K NA 308K
Apr 06 08:30 Nonfarm Payrolls Mar 150K 120K 97K
Apr 06 08:30 Unemployment Rate Mar 4.6% 4.6% 4.5%
Apr 06 08:30 Hourly Earnings Mar 0.3% 0.3% 0.4%
Apr 06 08:30 Average Workweek Mar 33.8 33.8 33.7
Apr 06 10:00 Wholesale Inventories Feb 0.4% 0.4% 0.7%
Apr 06 15:00 Consumer Credit Feb $5.5B $5.0B $6.4B

--------------------------------------------------------------------------------

EUR/USD

Weekly Trend direction: Bearish

Weekly trend reversal level: 1.3420

Strategy: Whilst above the weekly trend reversal level, sell rallies to resistance levels after an entry signal.

Medium term: The euro has broken above the large flag formation which has dominated the technical picture in 2006. Now, whilst above 1.2900 (1.2800 max), the euro remains in an uptrend which is heading back towards 1.3600, the multi-year high, and possibly higher still, towards 1.4100.

Today's trade suggestion: No change after a 49 pip range yesterday: Difficult trading conditions as we oscillate around the top of the recent range and near long term resistance levels at 1.3400. Despite the previous week's "spike high" candle, last week's market did not follow through to the downside, and this means that there is now an equal chance of a move in either direction. It is worth remembering that we now begin a new quarter, so it is likely that we will begin to find a direction this week, especially with the jobs report being released on Friday. Continue to try shorts whilst below 1.3420, with a target near 1.3200. Above 1.3420 means we are moving higher to 1.3500 and 1.3700. Try selling on signs of topping at around 1.3390/1.3400, stops above 1.3420, with aggressive traders prepared to reverse to long at the same time for 1.3500.

Key G7 Resistance levels: 1.3370, 1.3420

"Set and forget" entry: SELL 1.3400, stop/reverse 1.3435, target 1.3200 or 1.3500.

Counter-trend opportunities: as above.

EUR/USD Hourly chart:



EUR/USD Weekly chart:

[andy_r]

Sir, you flooded the threads with your postings, but you don't response throughly to the only one negative feedback by a single person who use your service and autotraded with you and lost. Would you kindly response to that feedback?

[forex618]

www.forex618.net

USD/JPY

Weekly Trend direction: Bullish

Weekly trend reversal level: 117.40

Strategy: Whilst below the weekly trend reversal level, buy dips to support levels after an entry signal.

Medium term: As our view for long term dollar weakness remains intact, we feel that 122.20 will cap rallies and initiate a drop back towards 105.00. Above 122.20 means that the dollar could rally much higher before a medium term top is formed.

Today's trade suggestion: No change: Despite a relative lack of activity in the other majors, the Dollar/Yen has rallied quite impressively, trying to squeeze back to the top of the original "bear flag" after a false break lower last week. This means that a) weekly momentum has reversed to bullish, and b) we must allow for a rally to 119.20 - 119.50 before a correction is due. This gives us the chance to trade in both directions, with sell signals near 119.00/50 leading to a drop to 118.50, and probably 117.70/118.00, where we can exit shorts and buy.

Key G7 Support levels: 118.50, 118.00, 117.70

"Set and forget" entry: BUY 118.00, stop 117.50, target 119.00

Counter-trend opportunities: SELL 119.00, stop 119.60, target 118.00

USD/JPY Hourly chart:



USD/JPY Weekly chart: