I (JR Crooks) mostly follow the daily charts of currencies. I want to alert you to something I'm seeing ...
Some of the indicators I apply to currency charts -- and all markets, for that matter -- suggest big moves are going to happen soon.
Take this chart of the British pound, for example:
Momentum, the yellow line across the bottom is neutral. At the same time, the Bollinger Bands and Keltner channels are narrowing and flat.
The same can be seen on a chart of the Australian dollar:
And a chart of the Japanese yen too:
So what does this mean?
It could mean we see some very sharp moves, lasting a week or so and happening as soon as next week.
I'll continue to monitor these indicators. But the trouble is these indicators aren't as precise as I would like. In other words: often times they lag the price move by a day or two. In order for a signal to be triggered in one direction or another, several conditions need to be met to generate a high degree of confidence.
So, ideally, one will have other indicators to help anticipate the direction of the breakout.
Luckily, I know a guy who can help ...
Jack has a forex trading service (we call it "BSFX") that offers these indicators that help anticipate price action. And he's just added a new feature for his members.
This new feature keeps them updated with the same key support and resistance levels Jack calculates early each morning before making any trading decisions.
In fact, have a peak at what his new BSFX Members' Only Dashboard looks like:
The 'Recommendations & Updates' are emailed directly to members and posted automatically.
The 'Key Levels & Comments' are posted for each major US Dollar pair ... each day.
If you're not already a member of BSFX, you can sign up real quick right now and be ready for the impending breakouts in some of the major currency pairs.
That's all I have for now. Happy trading.
P.S. Did I mention Jack's forex trading service -- BSFX -- had an ROI of 42% in 2013?? Yeah. Seriously. And the ROI is currently 11.1% year-to-date, assuming a $50,000 starting account size.
Here's the YTD profit curve: