U.S. Markets open in 2 hrs 59 mins

US Dollar Forex Trading Program: 07/08/2013

Jamie Saettele, CMT

Friday's FX Technical Weekly details current ideas (long gold, pending short GBPUSD and short USDJPY).

For GBPUSD, I'll start 'looking' short above 1.4962 and into 1.5007 (former low) although 1.5100 is the strongest area of estimated resistnace if reached (high volume area).

The USDJPY is acting well from a bear's perspective, reversing at the underside of the line that extends off of the November 2012 and April 2013 lows. A drop under 100.45 would indicate that top is probably in place and present an opportunity to short strength.

Follow me on Twitter @JamieSaettele

Email List (Technicals sent in PDF form once a day)

Sentiment in the Forex Market (my book)

Full Technicals


Interested in System Trading / Mirror Trader?

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.