In 48 Hours, We Want To Hit This Target
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 click here.
While
the jury is still not fully swayed, it appears that the dollar bulls have begun
to regain the upper hand as of mid-morning on Monday. While a key
level we mentioned last week at 87.37 managed to give way — that level has now
be re-tested and a move towards 87.65 is our very near-term objective.
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Based on the above analysis, as
well as similar analysis on NZD/USD, we (our clients and myself) established
short positions in NZD/USD this morning at .7065 — we are targeting a move
towards .6975-95 over the next 24-48 hours.
Trade Idea:
As always, feel free to send me your comments and questions.
Dave Floyd is President of
Aspen Trading Group, which provides research/trade ideas on the FX and
equity markets as well as
analytical software. Aspen Trading Group is based in Bend, OR.Â
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