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Forex Trading

Market Commentary
Week beginning 5 July 2010

US Dollar daily chart 2 July 2010.

Price closed on 84.42, Friday 2 July 2010.

As seen from the above chart of the US Dollar we see a current zig zag pattern playing out. The final leg of this pattern may be at the natural square level of 83.50 or 82.25c, before we see a retracement back towards 85.50.

This week;

Bullish pressure = AUD/USD, EUR/USD and GBP/USD.
Bearish pressure = USD/JPY, USD/CAD and USD/CHF.

Confirm the direction of the individual currencies with the swing chart forecasts shown here. Swing forecasts_________________________________________________________________

Fitzroy Daley, a 33 yr old forex trader from Jamaica has his sights set on becoming one of the best forex traders in the world. He is not far from reaching his goal as he has won the Surefire Trading Challenge three times during 2009. (April +1,880%, June +2,773% and August +1,358%). Fitzroy's system is based on swing trading which can be applied to all currency pairs. He uses the 4 hour and 1 hour time frames to trade. If you would like to know EXACTLY how his system works, it is available to the public at www.surefiretradingchallenge.com