Short-term traders: Know these levels
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.
The dollar index (DXC) may receive a bit of a reprieve
from its recent move lower, but I would expect this to be temporary.
Regardless, of the potential short-term strength of the dollar, GBP/USD
looks set to continue higher towards 1.7885 – ideal for a short-term trade.
On Monday, I posted an article that essentially began to
set the foundation for a series of articles that will introduce you to the
methods and strategies I use in the FX market (click
here to read it). One of these pieces will
deal with how to integrate in daily support and resistance levels like the ones
noted below. Stay tuned.
As always, feel free to send me your
comments and questions.
Aspen Trading Group