11m 51s: Lenght

To Get Ross' Free Forex Update Analysis - Click Here: http://mytotalsupport.com/cpv/base.php?c=86&key=fd5d14f7ec45b14d31a944108238114b&ls=youtube&keyword=forex_trading_strategies&ad=4HxUTUMvpNc Moving on over to the USDJPY. Continues to have an extreme rally here since the election results. Dipped back down then and then suddenly reversed, pressuring back higher. Take a look at the green zone. 107.70, the orange zone above it. 108.35. We’re above the green zone right now. Look back to the circles. The blue and the red circle, where the market found resistance at the green zone before. We’re above that now. So, it’s not too hard to see that if it stays above that green-shaded area, 107.70, 107.40, we’re looking for it to head back up to the orange zone. Again, it’s very difficult to buy something at the highest high. You never want to buy something at the highest high. But if it gives you indication of a breakout, I don’t have a problem with it. The fact that this little four-hour candle is above that green zone is encouraging for me today. Staying above 107.70, 107.40, the green zone, the potential of that continued drift towards the 108.35, 108.65-level, the orange zone is still there. The only reason to look for reversal would be back under the green zone, 107.40, for the USDJPY this week. Next, moving over to the AUDUSD. I highlighted this because I think this is interesting. It’s kind of a triangle pattern setup. We’re underneath that right now. The black trend line. The 100-period moving average. The red trend line. We’re underneath all of that in that triangle pattern. So, we could be looking at indications of the turn back lower again. Let’s go ahead. Now that you see where that blue triangle comes from, let’s zoom it in one time. Take a look. Right now we’re underneath the 100-period moving average, where it was support, support, support, support, support, support, and now we’re underneath it, challenging the 0.7535-level, the yellow zone. We’re underneath the black trend line, underneath the triangle. So, could be our first indications of a breakout of that triangle to continue the downward fall here for the AUDUSD. Take it down to the four-hour timeframe. Again, kind of a tough place right here. I’m just going to take this circle and get it out of the way. In fact, let’s use it. Let’s take this circle and put it right here. Take a look at that. Right inside that little blue circle, the market is in congestion in the yellow zone. So, it’s a clear breakout scenario. We need to wait for the breakout. It, either today or maybe tomorrow, breaks out underneath 0.7535 and continues the free fall that we’ve been in over the past couple of days. If it doesn’t and breaks to the topside, 0.7550, we could be looking for the rally back towards the pink zone here. So, that’s what we’re looking for today. Likely the breakout scenario outside this little yellow-shaded area today to give you confidence in direction, which would be either higher to make a little rally higher underneath the pink zone or continue the downward fall for the AUDUSD. Back to the NZDUSD. We’re into a trend line. Take a look at the black trend line. I don’t think that’s too hard to see. We’re uptrend into the trend line. It needs to break that trend line before it’s going to continue to go lower. I think it’s very difficult to go short on top of the trend line. So, keep that in mind. The black trend line. As we zoom in, you could see where it comes from now. We’re challenging it. We’re testing. I don’t think we’ve broken it yet. That is basically 0.7100, 0.7110, the blue-shaded area right around the trend line. We are challenging underneath that low, so that’s interesting. So, again, I often say in the Trade Room we want to sell things into resistance or breaks of support, so that’s what we’re looking for today. It either rallies to resistance, which, at this point, is all the way back up at the yellow zone into 0.7150, or breaks out under the blue-shaded area, 0.7100, 0.7110, 0.7115 or so. So, that’s what we’re looking for today. And then if it does continue to pressure lower back here into the purple zone, and of course if it breaks that last low there at the purple-shaded area, let me get this little blue circle right here and drag it down there. https://www.youtube.com/watch?v=4HxUTUMvpNc Disclaimer: This video is for general information only and is not intended to provide trading or investment advice or personal recommendations. Any information relating to past performance of an investment does not necessarily guarantee future performance. Forex Traders Daily including its analysts shall not be responsible for any loss that you incur, either directly or indirectly, arising from any investment based on any information in this video. Please remember derivatives and FX spot carries significant risks and may not be suitable for all investors. Losses can exceed your deposits.