Here are some FX 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
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or call 888.484.8220 ext. 1.
GBP/JPY can be a volatile cross to trade,
however, with that volatility, also comes opportunity. The text below sums up my
thoughts on this cross over the next several days as well as my game plan.
While not completely set-up currently, we are watching GBP/JPY closely for a
short entry. We expect the 205.50 level to contain prices moving ahead but want
to see a bit more bearish momentum come in on the intra-day chart (60 and
240-min) before making a commitment.
Downside targets are seen at 203.75 & 203.50 with a stop-loss in the 206.00
area.
Also worth noting, is the intra-day chart of NZD/CHF as it re-tests a bull
trend-line that was finally breached earlier this week. This level may represent
a good area from which to establish shorts.
Aspen Trading Group