NEWS / Foreign Exchange

The US dollar is weakening across the board as expected

The US dollar is weakening across the board as expected and the high yielding currencies continue to firm. It is a good time to take another look at the longer term chart of the Euro below.

A move above 1.3310 is early warning of a move to 1.3900 1.4500. A break of resistance at 1.3650 would be further strong confirmation of this Euro bullish, US dollar bearish view. So today is a key day in a big picture sense technically.

The Euro remains bullish while support at 1.3060 holds, clearly so above 1.3150, and aggressively so above 1.3240. The most likely immediate scenario is further significant sharp upside to 1.3360 then 1.3500 and 1.3650.

Overall still very bearish the US dollar, and expect USD/YEN to fall again as well.

Currency Trading

TACTICAL Points are for March

EUR/USD 1.3290 +36 pts
Long 2 units 1.3159, Profit stop loss 1.3201
Long 2 units 1.3189, Profit stop loss 1.3241
Long 2 units 1.3239, Profit stop loss 1.3251

GBP/USD 1.9375 +11 pt
Long 2 units 1.9339, stop loss 1.9301
Long 2 units 1.9379, stopped 1.9331
Buy 2 units on stop 1.9409, stop loss 1.9361
Sell 2 units on stop 1.9201, stop loss 1.9269

USD/YEN 117.10 +714 pts
Buy 2 units on stop 118.69, stop loss 118.11
Sell 2 units on stop 116.71, stop loss 117.29

EUR/YEN 155.70 -217 pts
Long 2 units 155.69, stop loss 155.11
Short 2 units 153.11, stopped 153.69

EUR/GBP .6860 +79 pts
Long 2 units .6809, Profit stop loss .6831
Sell 2 units on stop .6791, stop loss .6829

GBP/YEN 226.45 +209 pts
Long 2 units 224.99, Profit stop loss 225.81

AUD/USD .7905 +250 pts
Long 2 units .7849, stop loss .7841
Long 2 units .7889, stop loss .7861
Sell 2 units on stop .7761, stop loss .7799

NZD/USD .6955 +190 pts
Long 2 units .6889, Profit stop loss .6901
Buy 2 units on stop .6969, stop loss .6911
Sell 2 units on stop .6811, stop loss .6839

AUD/YEN 92.40 +104 pts
Long 2 units 91.69, Profit stop loss 91.71

1 unit = 50% of Initial Account Size
e.g. for a $100,000 account,
1 unit = $50,000 position
2 units = $100,000 position

STRATEGIC

EUR 1.3290
Bullish at 1.3189, S/L 1.3151
Sell at 1.3021, S/L 1.3099

GBP 1.9390
Buy at 1.9399, S/L 1.9311
Sell at 1.9201, S/L 1.9289

YEN 117.30
Buy at 119.29, S/L 118.51
Sell at 116.01, S/L 116.89

EUR/YEN 155.20
Bullish at 154.19, S/L 153.71
Sell at 152.31, S/L 153.39

AUD .7905
Bullish at .7899, S/L .7821
Sell at .7741, S/L .7789

NZD .6955
Bullish at .6899, S/L .6861
Sell at .6801, S/L .6849

CHF 1.2110
Buy at 1.2339, S/L 1.2281
Bearish at 1.2241, Profit S/L 1.2239

CAD 1.1760
Buy at 1.1789, S/L 1.1731
Sell at 1.1701, S/L 1.1789