6/4 Forex Update

AUD/USD continues to show bear phase on Person's Proprietary Signal. See this morning's posting.

New bear phases as the U.S. trading day draws to a close: AUD/JPY, EUR/JPY, GBP/USD and NZD/USD.

AUD/JPY

The signal comes along with a sharp decline traversing 4.8% intra-day. The return to bearishness comes after six days in bull phase, a period that saw the price rise by 6% (entry open to exit open). The profit would have been greater for traders who exited on Thursday's when the price hit the pps mid-line at £79 and then retreated. Upper pivot £86.13, mid-line £79, lower pivot £62.93.

EUR/JPY

Signal. Big drop. In this case the intra-day move has covered 3.2%. The pair stayed in bear phase for only two days, and the reversal didn't come at a significant Person's level. Thursday's trading could even be seen as a bullish confirmation. So, go figure. The short bull phase would have produced a 1.4% profit. Upper pivot ¥122.23, mid-line ¥115.52, lower pivot ¥98.88.

GBP/USD

Must abbreviate Signal. Big Drop. as "sbd". So, in this case, sbd. Intra-day 1.5% decline. Six-day bull phase the came before produced 2.1% profit. It would have been a bigger profit for traders who exited when the price pierced the mid-line two days in a row beginning June 1. Upper pivot US$1.5171, mid-line US$1.4698, lower pivot US$1.3588.

NZD/USD

Sbd. (I like this.) Intra-day drop 2.6%. Six-day bull phase profit 3.3%. Bull phase signal was the second mid-line touch in a row. Upper pivot US$0.723, mid-line US$0.6895, lower pivot US$0.6133.

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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.