NEWS / Foreign Exchange

The market is expecting a chance to buy the US dollar on the back of US CPI data

The market is expecting a chance to buy the US dollar on the back of US CPI data due today. Whether the market is rewarded in its expectation of a high number that will allow the spin of no rate cuts and perhaps hikes, remains to be seen. I would expect the market to be disappointed in this regard however, and so look for another top in a moderate US dollar bounce within 24-48 hours.

The AUD and NZD remain very firm and should the US CPI suggest moderate inflationary pressures they could well spike higher yet again.

Currency Trading

TACTICAL Points are for April

EUR/USD 1.3540 +336 pts
Long 2 units 1.3349, Profit stop loss 1.3501
Long 2 units 1.3399, Profit stop loss 1.3521
Long 2 units 1.3459, Profit stop loss 1.3521
Buy 2 units on stop 1.3589, stop loss 1.3521
Sell 2 units on stop 1.3261, stop loss 1.3299

GBP/USD 1.9900 +291 pt
Long 2 units 1.9699, Profit stop loss 1.9841
Long 2 units 1.9739, Profit stop loss 1.9861
Buy 2 units on stop 1.9899, stop loss 1.9841
Sell 2 units on stop 1.9631, stop loss 1.9669

USD/YEN 119.60 -74 pts
Buy 2 units on stop 119.99, stop loss 119.51
Sell 2 units on stop 119.21, stop loss 119.69

EUR/YEN 161.90 +313 pts
Long 2 units 161.29, Profit stop loss 161.41

EUR/GBP .6805 -35 pts
Buy 2 units on stop .6829, stop loss .6801
GBP/YEN 238.05 +349 pts
Long 2 units 237.29, stop loss 237.11
Sell 2 units on stop 235.81, stop loss 236.49

AUD/USD .8325 +368 pts
Long 2 units .8229, Profit stop loss .8301
Long 2 units .8249, Profit stop loss .8301
Long 2 units .8269, Profit stop loss .8311
Buy 2 units on stop .8359, stop loss .8331
Sell 2 units on stop .8171, stop loss .8209

NZD/USD .7395 +444 pts
Long 2 units .7209, Profit stop loss .7351
Long 2 units .7229, Profit stop loss .7361
Long 2 units .7299, Profit stop loss .7371
Sell 2 units on stop .7301, stop loss .7359

AUD/YEN 99.60 +356 pts
Long 2 units 99.69, stop loss 99.31

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 1.3540
Bullish at 1.3369, S/L 1.3461
Sell at 1.3331, S/L 1.3389

GBP 1.9900
Bullish at 1.9739, Profit S/L 1.9801
Sell at 1.9441, S/L 1.9499

YEN 119.60
Bullish at 119.79, S/L 119.21
Sell at 118.71, S/L 119.19

EUR/YEN 161.90
Bullish at 156.99, Profit S/L 160.71
Sell at 159.01, S/L 159.89

AUD .8325
Bullish at .8229, Profit S/L .8281
Sell at .8211, S/L .8269

NZD .7395
Bullish at .7179, Profit S/L .7321
Sell at .7221, S/L .7289

CHF 1.2135
Buy at 1.2269, S/L 1.2221
Bearish at 1.2181, S/L 1.2229

CAD 1.1320
Buy at 1.1639, S/L 1.1581
Bearish at 1.1531, Profit S/L 1.1399