2 forex crosses worth watching
Dave Floyd is a professional FX and stock trader based in Bend, OR and the
President of Aspen Trading Group. Dave’s approach to FX combines technical
and fundamental analysis that results in trades that fall into the swing
trading time frame of several hours to several days. For a free trial to
Dave Floyd’s Daily Forex Alerts
or call 888.484.8220 ext. 1.
While there are certainly ample opportunities in
the FX majors presently, there is little doubt that it comes with a fair degree
of volatility and erratic price action. Given that I like to trade off of 60 &
240-minute charts, that volatility in its present form is unwelcome. It is
during these periods that I look to the FX crosses as a way to seek out
technical patterns that may well play out on their own and not be held hostage
to the movements of the dollar. The trades highlighted below may take several
hours/days to play out but are worth noting.
CAD/CHF
I like CAD/CHF as a short – the big draw on the trade is the current break below
the 200-day EMA at 1.0966 as well as the momentum indicators we use all coming
together across the 60 & 240-min, daily & weekly charts.
NZD/CAD
As always, feel free to send me your comments and questions.
Aspen Trading Group