As mentioned in our previous post, here is our post on the AUD/USD.

We’ve seen a strong uptrend and there is still potential room for more swing to the upside.

Whether we may be in a potential Wave 2 or Wave 4 retracement, we know both waves have the 38.2% Fibonacci levels in common.

So, look for a potential retracement to the .9213 - .9095 area (depending on what Wave we’re in).

Once the retracement wave is complete, look for a potential nice movement back up. Where the currency pair actually turns back up will help give clues to which wave we could potentially be in.

We did have a comment asking about our take on the EUR/USD and we will have that for you tomorrow. Thanks again for the comment.

Also, don’t forget about the DISCOUNT you receive on the Currency Cowboy Trade Sheet. Visit www.ProPipper.com to read more information on it or email tradesheet@propipper.com to sign up (be sure to put “Trade Sheet” in Subject line and leave your contact information).

Good luck.

Just a quick addition to our last post. If the pair breaks up to test the highs again, look for it to land in between our 2 trend lines here.

The next couple of sessions will hopefully help give clues to the longer term direction.

The European session will start seeing action here in a few minutes.

Also, we’ll be posting our AUD/USD analysis here this week as well with projections.

Good luck.

Happy trading.

Welcome back to another week of trading.

Pulling up the EUR/USD, it seems the bulls are running out of steam and the bears are slowly gaining control.

Look for a potentialy continued push to the downside - keeping in mind we may see some more testing upwards.

Look for a shorter term potential price point of 1.4841 if it continues to the downside.

It’s still a little too early to tell if this will form a Contracting Triangle (CT) formation yet - we’ll need to see what unfolds.

We also have a couple more currency pairs we’re keeping an eye on and will be updating everyone this week with those analysis.

If you haven’t read about it yet, be sure you visit www.ProPipper.com for more information on the Currency Cowboy Trade Sheet.

The EUR/JPY has been in a channel for a little while now and now seems to be forming a contracting triangle.

For the shorter term, look for a potential movement down to the 133.50 area and below. Again, please keep in mind we’re referring to the short term here.

The price to watch on the upside is 135.71. After we see the break down complete, we’ll potentially see a movement back up.

Remember to apply your own analysis, use your stops and apply your money management.

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Looking at the EUR/USD, it looks like we’re beginning to start a sideways trend channel. From a technical standpoint, when we see this type of stalling (sideways movement), we’ll potentially see a continuation of the previous trend - which, in this case, is up.

Look for further sideways movement between the two horizontal lines drawn on our chart.

If the pair does head up, look for a shorter term price target of 1.5108.

Also, don’t forget that the longer the currency pair channels, the more of a breakout we’ll see once it does happen.

For those countries observing holidays today, we hope everyone has a restful day off as market are closed. Pro Pipper Trading also wants to wish everyone in the U.S. a happy Veteran’s Day.

Lastly, if you haven’t taken a look at the Currency Cowboy Trade Sheet, you’re missing out. Visit www.ProPipper.com for more information on how the trade sheet can help your trading.

Technicially speaking on the EUR/USD, you can see we’re in a potential triangle formation, which means that after it is complete, we will see a move up.

Analysts numbers for the non farm payroll ranges from -155,000 to - 175,000 with the rate expected to come out at 9.9% - 10%.

If the pair does swing up, look for a potential price point near the 1.4993 area. If the pair goes down, look for a potential price point near 1.4771.

As always when trading this report, be sure to monitor your trades closely. If you’re in a trade now, be sure to protect profits and apply your own analysis and money management.

Good luck and we’ll see everyone again shortly.

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We hope everyone had a great weekend and even better trading thus far.

For the EUR/USD, it seems we may potentially be forming a triangle formation - which, if is indeed the case, we will see a continuation down in the shorter term.

We were also running some different analysis and figures and saw that we may potentially see the EUR/USD hit the 1.5600 mark again.

Do you think it could do that? Well, if we’re seeing a triangle formation here, this means that the movement down cannot be a Wave 2 of an impulse. So, it seems as though we’re in a corrective phase and will see more short term down pressure followed by a long move upward.

Keep in mind we have the FOMC announcement on Wednesday and the NFP on Friday.

Good luck with trading. Apply your own analysis and be sure to use your money management.

Cheers.

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Just a quick update on the EUR/USD. On a very short term, look for the pair to retrace down to the 1.4791 - 1.4750 area and then potentially head back up for a 3rd wave in the corrective wave.

Good luck with trading and if we don’t see you again, we hope everyone has a very happy and safe weekend.

Cheers.

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We saw some more downward pressure in the EUR/USD and am now heading into what looks like a potential retracement.

It seems we may have seen a significant top in this currency pair as it looks though the trend is now down.

As we mentioned in previous posts, if we are indeed at the end of an Ending Diagonal (ED), then we will see a nice drop down.

If the move down is the start of an impulse wave, we know that retracements for Wave 2 will go at least 38.2% but most retrace to the 61.8% level.

So, in the shorter term, watch for the pair to potentially retrace back to the 1.4826 area before analyzing and considering getting into a potential short trade.

More conservative traders will wait until it hits the 1.4913 area before getting in. You may want to adjust a couple pips to lower in case it doesn’t hit the 61.8% line.

Good luck and happy trading.

Don’t forget about our announcement on the Currency Cowboy Trade Sheet. Visit www.ProPipper.com for more information - it’s definitely worth looking at.

Wow - what a day with the EUR/USD. We hope all of you were on the right side of the trade on that one.

We saw a big drop on the EUR/USD. It has rebounded to the 38.2% Fibo level. On the shorter term, look for a potential movement down in a 3rd wave - keeping in mind the 2nd wave is very premature at this point - meaning we may see some more upward movement first.

Also - we’ve been talking about this for a while and we finally wanted to bring it to all of you. You need to log onto www.ProPipper.com to take a look at the Currency Cowboy Trade Sheet. Please take a look and contact us at tradesheet@propipper.com if you have any questions.

Good luck everyone and happy trading.

Cheers.