EUR/USD - finally breaks
through key support at 1.2980 and is now sitting on support at 1.2940 (swing
high from 8/21/06 and breakout point back on 11/22/06). There may be a modest
bounce here, but the trend is now clearly down for EUR/USD - look to sell
rallies on a swing trading basis.
USD/JPY - higher, but still no breakout. The 120.00 level remains the key
break-out point. However, with the 119.45 level now exceeded, it is when, not
if, 120.00 will fall
GBP/USD - looks like a re-test of the 1.9266 low from last week is
likely. If prices close the NY session below 1.9378 bears will be in control for
the near-term.
EUR/JPY - set to move lower
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Dave
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
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