Thin trading ahead of FOMC continued

GBPCHF is being defiant right now but I suspect we'll see more downside which will pull EURJPY EURCHF down with it. Regardless it's thin trading ahead of FOMC and then NFP on Friday. Keep these higher timeframe charts in mind as you place trades on the 15min trendline breaks. Something I like to do with daily and 4hour charts is play the trendline bounce. Rather than wait for a close through the trendline I'll enter as the pair reaches the line for a bounce. This is a very effective strategy which typically yeilds greater than 30 pips depending on pair and timeframe. Try for yourself. Draw the td lines and test it out.

Thin trading ahead of FOMC

Daily analysis shows EURJPY has downside risk that looks real until EURCHF reaches its daily trendline. I can't say we'll see a day full of selloff because GBPCHF has yet to show it can hold lower.

USDCHF Near Term Trendline Update in Our Long Term Bull Trend

This USDCHF move up could suffer an unobstructed retracement to the blue circle area where we find near term support from previous trend lines and fibonacci retracement. The USDCHF is also correlated to the movements on Wall Street and the broader index (S&P 500). Our main fundamental analysis is at our other blog.

GBPJPY S&P Correlation Short Trade

This is the correlation confirmation between GBPJPY and S&P today.

Equities on Wall Street S&P selloff ahead

We're looking for another pullback in this uptrend now based on the 4hour chart. I trade FOREX pairs so I'll be looking to profit on a short GBPJPY which correlates very well with the S&P. The reason for this correlation will be the topic of a post on The Fundamental Blog later today.

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