NEWS / Foreign Exchange

The Yen has remained heavy but get the feeling that elastic band is a little stretched

The US dollar has remained heavy despite slightly more aggressive Fed minutes than might have been expected.

Continue to suggest the US dollar is very much at the edge of the precipice, and likely to have another sharp fall at any moment. Again it has that slightly too quiet feeling about it, and we should be watchful for increased volatility over the next 24-48 hours.

The Yen has remained heavy but get the feeling that elastic band is a little stretched. When that happens the elastic band, the market, either springs back, or snaps and falls further.

The Australian and New Zealand dollars remain very firm, and expect further upside here over the next 24-48 hours. There is a slight lingering risk of that 30 point down move before new highs, but tend to think we will go straight to new highs.

Currency Trading

TACTICAL Points are for April

EUR/USD 1.3440 +55 pts
Long 2 units 1.3349, Profit stop loss 1.3381
Long 2 units 1.3399, Profit stop loss 1.3401
Buy 2 units on stop 1.3459, stop loss 1.3401
Sell 2 units on stop 1.3261, stop loss 1.3299

GBP/USD 1.9750 +39 pt
Long 2 units 1.9699, stop loss 1.9691
Long 2 units 1.9739, stop loss 1.9711
Sell 2 units on stop 1.9631, stop loss 1.9669

USD/YEN 119.35 +66 pts
Long 2 units 118.69, Profit stop loss 119.01
Sell 2 units on stop 118.71, stop loss 119.09
Sell 2 units on stop 118.41, stop loss 118.89

EUR/YEN 160.35 +266 pts
Long 2 units 157.69, Profit stop loss 159.91

EUR/GBP .6805 -35 pts
Long 2 units .6779, Took Profit .6781

GBP/YEN 235.60 +292 pts
Long 2 units 234.79, Profit stop loss 235.01
Sell 2 units on stop 233.31, stop loss 233.89

AUD/USD .8245 +177 pts
Long 2 units .8229, stop loss .8201
Long 2 units .8249, stop loss .8221
Buy 2 units on stop .8269, stop loss .8221
Sell 2 units on stop .8171, stop loss .8209

NZD/USD .7275 +108 pts
Long 2 units .7209, Profit stop loss .7231
Long 2 units .7229, Profit stop loss .7241
Buy 2 units on stop .7299, stop loss .7261
Sell 2 units on stop .7071, stop loss .7109

AUD/YEN 98.35 +305 pts
Long 2 units 94.79, Profit stop loss 98.01

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 1.3440
Bullish at 1.3369, S/L 1.3321
Sell at 1.3201, S/L 1.3289

GBP 1.9750
Bullish at 1.9739, S/L 1.9661
Sell at 1.9441, S/L 1.9499

YEN 119.35
Bullish at 118.69, S/L 118.61
Sell at 118.01, S/L 118.79

EUR/YEN 160.35
Bullish at 156.99, Profit S/L 159.31
Sell at 158.61, S/L 157.39

AUD .8245
Bullish at .8229, S/L .8171
Sell at .8021, S/L .8069

NZD .7275
Bullish at .7179, Profit S/L .7201
Sell at .7161, S/L .7199

CHF 1.2225
Buy at 1.2269, S/L 1.2221
Bearish at 1.2181, S/L 1.2249

CAD 1.1410
Buy at 1.1639, S/L 1.1581
Bearish at 1.1531, Profit S/L 1.1479