5/28 Forex: A Huge Haul

A number of late switches to bull phase on Person's Proprietary Signal (pps). The currency pairs involved are:

• AUD vs. JPY, NZD and USD
• CHF/JPY
• GBP vs. JPY, USD
• NZD/USD
• USD/JPY

That's a bigger haul than I've seen for some time. A reminder: With the pps, after the phase switch I'm looking for a retracement toward the pps moving averages and then a bounce as confirmation. Like any signaler, the pps is prone to whipsaws.

Having said that, let's look at today's situation with these pairs: USD/JPY: At ¥90.95, trading down intra-day at the top of Thursday's range. The pair needs to approach 90.44 and bounce to attain confirmation. The price is below the lower monthly Person's pivot, which stands at ¥92.03. AUD/JPY: At ¥77.10, this mirrors the USD/JPY action. The moving average is at ¥75.47, and the price is below the lower pivot, at ¥84.39. AUD/NZD: At NZ$1.2490, the body of today's candle is entirely above Thursday's candle body. The price opened this morning, dropped toward the moving averages, and then rose, so the signal is confirmed. The price is below the lower pivot at NZ$1.2518. CHF/JPY: At ¥78.85, the pair is trading down intra-day at the top of Thursday's range. The moving average is at ¥78.20, and the price is way below the lower pivot, at ¥84.98.

All about the euro: How it got here, where it's going.

GBP/JPY: At &yen132.30, the pair is trading down intra-day at the top of Thursday's range. The moving average is at ¥130.49, and the price is below the lower pivot at ¥139.77.

GBP/USD: At US$1.4536, same pattern as GBP/JPY. Moving average: US$1.4451. Lower pivot at US$1.5087.


NZD/USD: At US$1.4534, same as GBP/USD. Moving average at US$1.4453. Lower pivot at US$1.5087.

That's it. The pairs trading down at the top of Thursday's range need an up-day to confirm.

Disclaimer

Tim Bovee, Private Trader tracks the trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.


No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decision decisions for his or her own account, and take responsibility for the consequences.