Watch these key FX 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. To learn
more about how Dave trades,
click here.
Quick FX Thoughts:
Overnight in FX land saw
the dollar remain firm after a solid week or so of selling – we note that the
downward trend channel that began back on 4/19 has now been broken, however, the
84.97 level will now be the short-term barrier that prevents it from trading
back within that channel.
NZD/USD – it had to happen, the question was timing. Overnight saw a decent
bounce higher off oversold levels despite a firm dollar and a higher
unemployment reading. Prices are now looking to break above .6300
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.Â
Thursday’s FX Targets & Technical Levels
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your comments and questions.Â