Current GBP/JPY and EUR/AUD Trading Plans

Mark Mc Donnell

Forex Early Warning Representative
The JPY exotics should move higher tonight however all of them have nearby resistance. One pair we like is the GBP/JPY due to not having any resistance past the alarm price.

GBP/JPY – set buy alarm at 122.50, room to move up to the 125.50 resistance and the D1 trend should form past the alarm price.

EUR/AUD – strong long term downtrend in place, this pair has almost no historical support left. We estimate the final support at 1.2925 so set a sell alarm here and if it breaks this price the trend should carry it lower.

When the price alarms hit verify any buy or sell entries with The Forex Heatmap ™ and look for GBP strength or JPY weakness or both on the GBP/JPY or EUR weakness or AUD strength or both on the EUR/AUD.

Good Trading
Mark Mc Donnell
Spot Forex Trading Plans Across 28 Currency Pairs
$19.95 per month

10-7-2011 Main Session GBPJPY Buy Signal.jpg
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