Indications are that the USD breakout is real. I'll be net long USD until further notice but position size will vary as the USD trades into resistance (less long USD) and into support (more long USD). Many that are correct about bigger picture direction will still lose money or not make as much as they should because their timing will be poor. The next few days may produce some sideways/corrective USD action...the GBPUSD is at channel support and the 13 week midpoint...the AUDUSD traded into the 6/25 low...the NZDUSD is at the trendline that extends off of the 2012 and 2013 lows and the downward sloping channel that defines the decline from the April high....the USDCHF traded into the 61.8% retracement of the decline from the 2012 high.
The following are levels that I'm looking to be more long USD (these are not orders...rather levels to watch for reactions).
The following are levels that I'm looking to be less long USD (these are orders).
Email List (Technicals sent in PDF form once a day)
Breakout Trading System (current conditions are favorable)
- Basic Materials Industry