Forex Levels You Can Use
Today’s column is a
departure from the traditional format. I am doing this for two
reasons:
1. I am going to be out of town until Tuesday,
so a few technical levels to bear in mind will assist over the next few days.
Friday’s release on the jobs picture could send the FX markets into another
frenzy.
2. Due to the volatility in FX lately, these
levels may prove critical for trade entries/exits
Below you will find the value and perhaps a
comment that relates to it.
EUR:
– 1.2150 (support)
– 1.2110 (support)
– 1.2355 (resistance)
– 1.1975 (support)
GBP:
– 1.8324 (50 ema)
– 1.8140
– 1.8240 (key support)
EUR/JPY:
– 134.02 (50 ema)
– 132.49 (200 ema)
– 136.64 (trend-line break)
** I am short EUR/JPY from 135.65 as a
Position Trade, target is seen at 129.70
CHF:
– 1.3000 (200 ema)
– 1.2904
– 1.2725 (Jan high)
– 1.3080 (resistance)
I trust you will find these levels helpful in the
days ahead.
HVT:
HVT continues to be a game of patience (there is
a shocker), however, each day always throws 2-3 solid trades your way if you are
patient. Yesterday saw the likes of BVF &
AZO.
My column will resume on Wednesday morning March
10th.
As always, feel free to send me your comments and
questions.
Dave