Dave Floyd
Aspen Trading Group
Good morning traders. Below are my thoughts/forecasts for the next several hours.
Note: the Intra-Day FX Forecasts highlight price direction and likely price targets/stops designed for traders looking at trading opportunities over the next several hours. These are not official trade recommendations, merely guidelines and forecasts, which are pretty darn useful each trading day.
Intra-Day FX Forecasts:
Dollar Index (DXC): Bullish the forecast support at 95.72 played out like clockwork and prices have since rallied. Still want to see prices get above 96.66 to really get the upside momentum going
USD/JPY: Cautiously Bearish damn, this nasty sideways triangle will just not complete. Yes we had the forecast move lower yesterday and from the emails I received, many clients were short. But we just can't seem to get prices to break below 119.23-119.00. I still think the triangle completed on Sep 25th and the rally we are seeing this AM will stall at 120.00-120.47 before turning lower again.
EUR/USD: Bearish yesterday's call for a rally towards 1.1250'ish was spot on. Expecting a resumption of the trend lower now - in fact we are already seeing it from the overnight highs.
EUR/AUD: Neutral from yesterday: A move back above 1.6000-1.6065 points towards a sustained move higher to 1.6190 and yes, in the days/weeks ahead......1.6800. Well, the forecast did play out (to some degree) - except that prices reversed hard at the 1.6250 level and that reversal makes me less bullish since it is so deep.
AUD/USD: Neutral to Bearish looking for modest rally into the .7019-.7100 resistance zone before prices stall and resume the push lower.
I will be updating throughout the day as opportunities/developments present themselves.
Dave
Note: the Intra-Day FX Forecasts highlight price direction and likely price targets/stops designed for traders looking at trading opportunities over the next several hours. These are not official trade recommendations, merely guidelines and forecasts, which are pretty darn useful each trading day.
Intra-Day FX Forecasts:
Dollar Index (DXC): Bullish the forecast support at 95.72 played out like clockwork and prices have since rallied. Still want to see prices get above 96.66 to really get the upside momentum going
USD/JPY: Cautiously Bearish damn, this nasty sideways triangle will just not complete. Yes we had the forecast move lower yesterday and from the emails I received, many clients were short. But we just can't seem to get prices to break below 119.23-119.00. I still think the triangle completed on Sep 25th and the rally we are seeing this AM will stall at 120.00-120.47 before turning lower again.
EUR/USD: Bearish yesterday's call for a rally towards 1.1250'ish was spot on. Expecting a resumption of the trend lower now - in fact we are already seeing it from the overnight highs.
EUR/AUD: Neutral from yesterday: A move back above 1.6000-1.6065 points towards a sustained move higher to 1.6190 and yes, in the days/weeks ahead......1.6800. Well, the forecast did play out (to some degree) - except that prices reversed hard at the 1.6250 level and that reversal makes me less bullish since it is so deep.
AUD/USD: Neutral to Bearish looking for modest rally into the .7019-.7100 resistance zone before prices stall and resume the push lower.
I will be updating throughout the day as opportunities/developments present themselves.
Dave
Aspen Trading Group´s FX Commentary, including any content or information contained within it or Aspen Trading Group´s web site, any site-related service, is provided “as is”, with all faults, with no representations or warranties of any kind, either expressed or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose, and noninfringement. You assume total responsibility and risk for your use of Aspen Trading Group´s commentary/website, site-related services, and hyperlinked websites.
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