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US Dollar Forex Trading Program: 07/08/2013

US Dollar Forex Trading Program: 07/08/2013

2013-07-08 12:05:00
Jamie Saettele, CMT, Sr. Technical Strategist
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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.

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