NEWS / Foreign Exchange

Expect the US dollar to drop sharply over the next two weeks

We are getting our favoured scenarios on a variety of fronts. When this happens it is best not to try to be too clever about it, and just remain focused.

Expect the US dollar to drop sharply over the next two weeks. There is plenty of negative news and positive news is overlooked now, so it would take quite a left field catalyst for the US dollar to rally. Staying short dollars.

The AUD NZD are rallying as expected, and the AUD should be closer to 81 cents by end of week.

Do not expect any resistance at 80 cents, as any sellers have there offers in the .7880 .7890 area.  After that stop buy orders are likely to dominate. Market remains immediately bid on day while .7945 holds.

Currency Trading

TACTICAL Points are for March

EUR/USD 1.3315 +111 pts
Long 2 units 1.3159, Profit stop loss 1.3231
Long 2 units 1.3189, Profit stop loss 1.3271
Long 2 units 1.3239, Profit stop loss 1.3281

GBP/USD 1.9410 +47 pt
Long 2 units 1.9339, stop loss 1.9331
Long 2 units 1.9409, stop loss 1.9371
Sell 2 units on stop 1.9201, stop loss 1.9269

USD/YEN 116.60 +725 pts
Buy 2 units on stop 118.69, stop loss 118.11
Short 2 units 116.71, stop loss 117.29
Sell 2 units on stop 116.01, stop loss 116.59

EUR/YEN 155.25 -276 pts
Long 2 units 155.69, stopped 155.11
Buy 2 units on stop 156.39, stop loss 155.31
Sell 2 units on stop 154.31, stop loss 154.89

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

GBP/YEN 226.25 +145 pts
Long 2 units 224.99, Took Profit 225.81

AUD/USD .7950 +340 pts
Long 2 units .7849, Profit stop loss .7901
Long 2 units .7889, Profit stop loss .7931
Buy 2 units on stop .7989, stop loss .7951
Sell 2 units on stop .7761, stop loss .7799

NZD/USD .6970 +206 pts
Long 2 units .6889, Profit stop loss .6921
Long 2 units .6969, stop loss .6931
Sell 2 units on stop .6811, stop loss .6839

AUD/YEN 92.75 +139 pts
Long 2 units 91.69, Profit stop loss 92.01

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 1.3315
Bullish at 1.3189, Profit S/L 1.3191
Sell at 1.3021, S/L 1.3099

GBP 1.9410
Bullish at 1.9399, S/L 1.9301
Sell at 1.9201, S/L 1.9289

YEN 116.60
Buy at 119.29, S/L 118.51
Sell at 116.01, S/L 116.89

EUR/YEN 155.25
Bullish at 154.19, S/L 154.01
Sell at 152.31, S/L 153.39

AUD .7950
Bullish at .7899, S/L .7861
Sell at .7741, S/L .7789

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

CHF 1.2060
Buy at 1.2339, S/L 1.2281
Bearish at 1.2241, Profit S/L 1.2209

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