NEWS / Foreign Exchange

The Australian dollar is ready to strike to further fresh highs at any time, and do not see a top forming

Today??™s trading through to the NY close will be interesting, with a few hours more US dollar buying pressure perhaps, but would not be surprised to see the US dollar buyers capitulate toward a very heavy NY close later today.

The Australian dollar is ready to strike to further fresh highs at any time, and do not see a top forming. The risk for US dollar bears generally is a brief spike higher of just a few hours in the USD, taking out a lot of trailing stops just like ours, and then an immediate sharp resumption of the US dollar down trend. The more likely scenario I feel is that the US dollar bounce is tiring right here right now.

Currency Trading

TACTICAL Points are for March

EUR/USD 1.3325 +109 pts
Long 2 units 1.3159, Profit stop loss 1.3281
Long 2 units 1.3189, Profit stop loss 1.3301
Long 2 units 1.3339, Took Profit 1.3351
Sell 2 units on stop 1.3241, stop loss 1.3299

GBP/USD 1.9645 +443 pt
Long 2 units 1.9339, Profit stop loss 1.9591
Buy 2 units on stop 1.9689, stop loss 1.9621
Sell 2 units on stop 1.9531, stop loss 1.9599

USD/YEN 118.05 +642 pts
Long 2 units 118.19, stop loss 117.71
Sell 2 units on stop 117.51, stop loss 118.09

EUR/YEN 157.25 -310 pts
Long 2 units 156.39, Profit stop loss 156.51
Sell 2 units on stop 155.01, stop loss 155.49

EUR/GBP .6785 +45 pts
Buy 2 units on stop .6829, stop loss .6801
Short 2 units .6801, stop loss .6819

GBP/YEN 231.65 -27 pts
Long 2 units 232.19, stop loss 231.01

AUD/USD .8070 +700 pts
Long 2 units .7849, Profit stop loss .8021
Long 2 units .7889, Profit stop loss .8031
Long 2 units .7989, Profit stop loss .8041
Buy 2 units on stop .8089, stop loss .8051
Sell 2 units on stop .7981, stop loss .8019

NZD/USD .7115 +492 pts
Long 2 units .6889, Profit stop loss .7061
Long 2 units .6969, Profit stop loss .7071
Long 2 units .7119, stop loss .7081
Sell 2 units on stop .7001, stop loss .7059

AUD/YEN 91.15 +319 pts
Long 2 units 91.69, Profit stop loss 94.61

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 1.3325
Bullish at 1.3189, Profit S/L 1.3261
Sell at 1.3201, S/L 1.3289

GBP 1.9645
Bullish at 1.9399, S/L 1.9531
Sell at 1.9401, S/L 1.9489

YEN 118.05
Buy at 118.59, S/L 118.01
Sell at 116.71, S/L 117.09

EUR/YEN 157.25
Bullish at 154.19, Profit S/L 155.71
Sell at 154.31, S/L 154.99

AUD .8070
Bullish at .7899, Profit S/L .7981
Sell at .7921, S/L .7989

NZD .7115
Bullish at .6899, Profit S/L .7031
Sell at .6971, S/L .7029

CHF 1.2145
Buy at 1.2239, S/L 1.2191
Bearish at 1.2241, Profit S/L 1.2189

CAD 1.1585
Buy at 1.1789, S/L 1.1731
Bearish at 1.1701, Profit S/L 1.1629