November 21, 2013 - MDT - Currency Special

While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Jim Parker, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.

AUD/USD...anything down into 92.00 is a cover zone for shorts the first time down.

EUR/AUD...145.74-146.00 is the directional trap the first time up.

This cross just elected the monthly ORH buy stops above 145.54.

This is a monthly level. Keep this on the radar for the next move.

The potential here is for a 5-8 figure move which could see the Aussie trading toward 87 on a longer term outlook.

EUR/JPY...136.00-30 will become a directional indicator. There is a possibility of price rejection here, however holding this zone would lead me to believe we're heading towards 139 where all the long term macro buy stops are.

EUR/JPY is important because it will telegraph how the Yen will devalue.

USD/JPY is breaking out on a monthly chart. The Long term tgt is close to 107 on this pattern.?Remember, it's not yet the end of the month.

As always trade what is in front of you. Keep buying figure breaks in USD/JPY (selling 100 point rallies in the Futures).

For Glossary of terms and abbreviations click here.

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