In a sideways market, technical levels are key
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 I would not go as far
as saying the FX markets in general are moving sideways, far from it, but the
last 24-hours have seen prices begin to consolidate and I would expect more of
the same as we move towards the Non-Far Payroll (NFP) data on Friday.
The template below contains
‘support’ and ‘resistance’ levels for the major FX pairs – note these levels on
your charts and see how they can assist you in entering and exiting trades. There
are no ’24-Hour Target Trades’ for today as we do not see any set-ups that meet
that criteria.
Wednesday’s FX Targets & Technical Levels
As always, feel free to send me your comments and questions