NZD/USD Trade Setup 14/12/2010

NZD/USD Daily chart:
1. Symmetric triangle.
2. Head and shoulder formation which suggest trend might reverse.
3. Will wait for a few more days to get a better signal

USD/CHF Trade Setup 14/12/2010

USD/CHF Daily chart:
1. Symmetrical trainagle.
2. RSI is below 50 which suggest that the selling power is strong.
3. It might break out downwards with a possible TP of 550 pips.
4. I did create a pending order but I don't know how to set a proper SL.

GBP/JPY Trade Setup 14/12/2010

GBP/JPY daily chart:
1. It is forming a symmetrical triangle.
2. Direction of breakout is unknown yet. But I think it will break upwards and reach 100 or 161.8 Fibo level.
3. RSI is above 50 which suggest that the buying strength is there. That's it might break upwards.

EUR/JPY Trade Setup 14/12/2010

EUR/JPY daily:
1. Symmetrical triangle.
2. Open trades on breakout.
3. Potential TP: 950 pips
4. Will wait for a few more days to get a clearer signal.

USD/JPY Trade Setup 14/12/2010

As shown above, we can see that the graph forms an ascending triangle on a daily chart. The direction of breakout is still unknown. It might breakout and move for about 350 pips or more. So, I will watching this pair for a few more days.