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Six forex pairs with high probability setups for swing traders

Waiting for confirmation

Key characteristics:

  1. With the trend.
  2. Reversal at very strong levels.
  3. Need final stages of 1234 to confirm.

 

AUDCHF with the trend continuation

  1. Month to month downtrend.
  2. Week to week consolidation.
  3. Previous support turn resistance present.
AUDCHF daily chart

AUDCHF daily chart

 

AUDJPY with the trend continuation

  1. Month to month downtrend.
  2. Week to week consolidation.
  3. ‘2 YL’ and ‘3 YL’ overhead.
AUDJPY daily chart

AUDJPY daily chart

 

CADCHF with the trend continuation

  1. Month to month downtrend.
  2. Week to week retracing.
  3. Trend line resistance and previous support turn resistance clearly visible.
CADCHF daily chart

CADCHF daily chart

 

CADJPY with the trend continuation

  1. Month to month downtrend
  2. Week to week consolidation
  3. Previous support turn resistance present
CADJPY daily chart

CADJPY daily chart

 

EURSGD bearish reversal

  1. Month to month uptrend.
  2. Week to week consolidation.
  3. Year to year downtrend.
  4. Resisted by ‘2 YL’ so any down move becomes a resumption of year to year movement.
EURSGD daily chart

EURSGD daily chart

 

GBPJPY with the trend continuation

  1. Month to month downtrend.
  2. Week to week consolidation.
  3. Previous support turn resistance present.
GBPJPY daily chart

GBPJPY daily chart

 

Important notes:

  1. Apart from EURSGD, all are with the trend moves that should be pretty conservative.
  2. However this coming FOMC is expected to be very rocky with both camps rooting for something to happen in their way.
  3. Being daily setups however, handle the ones here with patience because we want to have a big move so it is ok to be a bit slow on entry but get the timing as right as possible.

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Director, TerraSeeds Market Technician Pte Ltd. Trader, investor. @sohtionghum was picked ‘Top 70 Forex Twitter in 2015’. Operates multiple strategies.

“Dear reader, I do not have a financial license to give advice. I do not know you the reader. Your financial objective and risk tolerance may be different from mine. I am not responsible for any consequence of your action.

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6 thoughts on “Six forex pairs with high probability setups for swing traders”

  1. Tan Teng Chew says:

    any consideration on AUDSGD? will be great if it shoots down, down under holiday will be nice… ^^

    1. Soh Tiong Hum says:

      Yes AUDSGD is down trend month-month and week-week so it is high probability. It is probably at 1-2 stage. The reason it was skipped was because 28 July low may be support for now. You should See CADSGD too which is at advanced stage of 1-2-3-4 already.

  2. Benson Ang says:

    thank you Mr soh.

  3. Wern Farrago says:

    i actually thought EURSGD might be doing a bullish reversal, such was the strength of the up move in Aug. Let’s see how it pans out

    1. Soh Tiong Hum says:

      Bullish continuation you mean. It was already up since May but yeah I understand what you mean.

  4. Tan Teng Chew says:

    Thanks a lot, Tiong Hum…

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