Thursday, March 28, 2013

Currency future setups for next week

I posted a GBPUSD setup in the previous post.

Continuing looking at other currencies, here's one I really like - The Canadian dollar. 6C has been in a bear market, and its currently overbought, so its a nice selling opportunity. Look below for where I'd like to short some.

6A or AUDUSD has been in an uptrend, but has found some sellers over the last 2 days. Its still holding a key level, but note how its been sold from the 21 EMA repeatedly? I dont like that. So I'd like to see it above the 21EMA, and then we can try longs with stops below the support level. Otherwise, a break below this support means we sell retraces.

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