24-Hour FX Targets

[Dave Floyd]

Monday's Technical Levels and Targets

see attachment below

 

[Dave Floyd]

Dollar Index - higher or lower?

tough call on this one.....

Dave

 

[Dave Floyd]

Dollar Undex Outlook

The chart below frames our thoughts on DXC over the next several hours.

Dave

 

[Dave Floyd]

Tuesday's Technical Levels

see file below.....

 

[Dave Floyd]

EUR/USD Targets

see chart below......

 

[Dave Floyd]

Wednesday's Targets & Levels

see attachment below.....

Note: traders who are shorter-term oriented with their trades should make use of the 'Support & Resistance' levels posted here during the week. Frequently they identify highs/lows and reversal points that are critical for short-term trades.

Note yesterday's technical levels (see attachment below, 82906.jpg), these levels were forecast in advance. Note the following:

EUR/USD - day high called within 2 pips; day low within 5 pips

AUD/USD - reversal off the day lows (.7592); day high (.7642)

 

[Dave Floyd]

Tuesday's Targets & Levels

see attachment below for details....

Dave

 

[Dave Floyd]

Mid-Day FX Update

- From a short-term perspective, DXC (dollar index) needs to clear the 85.10 level in order to sustain some upside bias. If this level is breached look for a move towards 85.28-37

- A couple of interesting charts.....

Dave

 

[Dave Floyd]

Chart of the Day

AUD/NZD looks to have found a confluence of support levels, see chart below for details.

Dave

View a real-time sampling of our FX Research & Trade Alerts via our Desktop Ticker - www.aspentrading.com/buzzlite/license.php

 

[Dave Floyd]

Mid-Day FX Update

A couple of charts worth noting.....

Dave

 

[Dave Floyd]

Interesting Chart & Possible Trade Set-up

see chart below

Dave

 

[Dave Floyd]

NZD/CHF follow-up

see chart below

Dave

New Zealand Outlook

Today's RBNZ meeting will likely not show a rise/fall in interest rates - but the language will be key. Expect a MPS similar to July's. The MPS may suggest economic data has remained a little more robust than expected, but note the
stronger than expected TWI has been an important offset. Indeed, the recent softening in oil/petrol prices will present some downside risks to headline inflation. As such, the MPS will likely indicate that policy will remain firm for some time yet, but further hikes are still fairly unlikely as the RBNZ expects inflation to be brought under control over the medium-term.

Trading Impact: while the immediate reaction in the market is anyone's guess, it seems likely that with a quest for yield being the dominant theme, NZD is well positioned to be a beneficiary. This may be a tough trade against the likes of the dollar, also viewed as a high yielder, but seems much more clear when looking at NZD/CHF and NZD/JPY - two currencies that we noted earlier as 'low yielders'.

Hence, try to take a slightly longer-term view on long trades in NZD/JPY and NZD/CHF (i.e. several days/weeks).

 

[Dave Floyd]

Nzd/chf

New Zealand Outlook

Today's RBNZ meeting will likely not show a rise/fall in interest rates - but the language will be key. Expect a MPS similar to July's. The MPS may suggest economic data has remained a little more robust than expected, but note the
stronger than expected TWI has been an important offset. Indeed, the recent softening in oil/petrol prices will present some downside risks to headline inflation. As such, the MPS will likely indicate that policy will remain firm for some time yet, but further hikes are still fairly unlikely as the RBNZ expects inflation to be brought under control over the medium-term.

Trading Impact: while the immediate reaction in the market is anyone's guess, it seems likely that with a quest for yield being the dominant theme, NZD is well positioned to be a beneficiary. This may be a tough trade against the likes of the dollar, also viewed as a high yielder, but seems much more clear when looking at NZD/CHF and NZD/JPY - two currencies that we noted earlier as 'low yielders'.

Hence, try to take a slightly longer-term view on long trades in NZD/JPY and NZD/CHF (i.e. several days/weeks).

NZD/CHF Technicals

The RBNZ has come in a bit more hawkish - NZD/USD and the NZD crosses are all sharply higher - note the move in NZD/CHF off the .8050-60 support level cited in the 09/13/06 15:19 GMT posting.

Clients should look to raise the stop (suggested at just under .8020) to the .8050 area - this trade should be ideally suited to NOT micro-managing it - simply let it play out.

 

[Dave Floyd]

Friday's Technical Levels/Targets

see image below for details...

Dave

 

[Dave Floyd]

EUR/USD - a move lower?

see chart for further details.....

Dave

 

[Dave Floyd]

Tuesday's Technical Levels

see attachment below.....

Dave

 

[Dave Floyd]

Thursday's Technical Levels & Bias

see attachment below....

Dave

 

[Dave Floyd]

FX Reversal Levels

Wanted to post some technical levels here that I/we have been using with a solid degree of success for some time. Naturally, they are not stand-alone indicators - but when used witrh other technical analysis techniques, they are quite useful. The user guide (attached) is simply an outline of a potential way to integrate them into your day-to-day trading.

USD/CHF:

Resistance - 1.2484, 1.2496, 1.2506 & 1.2529
Support - 1.2392, 1.2380, 1.2370 & 1.2347

AUD/USD:

Resistance - .7539, .7546, .7552 & .7566
Support - .7483, .7476, .7470 & .7456

USD/CAD:

Resistance - 1.1153, 1.1163, 1.1172 & 1.1191
Support - 1.1077, 1.1067, 1.1058 & 1.1039

EUR/JPY:

Resistance - 149.68, 149.82, 149.93 & 150.19
Support - 148.66, 148.52, 148.41 & 148.15

EUR/USD:

Resistance - 1.2739, 1.2750, 1.2759 & 1.2779
Support - 1.2659, 1.2648, 1.2639, 1.2619

USD/JPY:

Resistance - 117.86, 117.98, 118.07 & 118.28
Support - 117.04, 116.92, 116.83 & 116.62

GBP/USD:

Resistance - 1.8943, 1.8959, 1.8972 & 1.9001
Support - 1.8829, 1.8813, 1.8800 & 1.8771

Bear in mind the user guide was written for our clients - so some references are specific to that versus postings here.

Dave

 

[Dave Floyd]

Short-Term Reversal Levels

Following up on the previous posting, we note the 1.8771 level in GBP/USD (the final support level noted).

Overnight, GBP/USD did sell off sharply and has traded right into this level - of all 4 of these levels (STRL's) it is the most significant (see attached chart). Also, with the 60 & 240-min chart deeply oversold - that level was/is a very reasonable long entry point with a 20-25 pip stop-loss.

Simply playing the probabilities.

Dave

 

[Dave Floyd]

Wednesday's Technical Levels & Targets

see attached file....

Dave