A break above this level will turn the Dollar Index bullish
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
Â
Â
While the Dollar Index (DXC) has regained a bullish
tone over the last several hours, one last resistance level still needs to be
overcome — 86.40 before we could become bullish over the next several
hours/days.
Â
One of
the better ideas currently, assuming DXC remains on firm footing and breaks
higher, is to look for a short in NZD/USD. While the .6198 level remains the
‘trigger point’ for lower levels in NZD/USD – traders looking to enhance their
entry point may look to scale into shorts on a break of .6216
Â
Â
CAD/CHF:
Â
This
cross looks set to trade lower. See chart below.
Â
Â
Receive a
sampling of our real-time FX research and trade alerts
FX Desktop Ticker
Â
As always,
feel free to send me your comments and questions.
Â
Aspen Trading Group
Â