Market: Eurex EURO STOXX 50 Index Futures, $FESX_F
Trading Levels: 2480/2510
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If the 2480 will be able to support the futures, the buying pressure could send the $FESX_F to test the 2510 mark, where sellers stand ready to fight the up-move. A breakout of this short-term resistance has 2550 as a target.[/caption]
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If the $EURUSD will not be able to break past the 1.2750$ mark we will stand ready for opportunities on the short side of the market, preferably a 2480 breakout for a 40/50 point run toward the 2440/2430 target.[/caption]
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For the past week we have been trading the short-side of the market, bearing in mind that we were trading against the Line of Least Resistance (LLR). We were able to close the short stance once the future touched the 2440 target, and we stay at the window waiting for the market to give us some hints. We will study the price action onto these levels knowing that without a confirmation we will still keep our hands off the keyboard. [/caption]
It’s paramount to know when it’s time to go fishing!
Market: USDJPY, $USDJPY
Pair bounced around today but maintained support around the 79.20 level. We still like this pair for further push higher. Looking to buy at the 79.20 support level for a longer term strategy to test 82.
Double Bullish signal, look for a test of recent highs.
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