Spu’s…need sustained and closing price action under 1500+- “Friday’s Lows for lower”
AUD/JPY…94.40-50 is the pivot and the weekly support.
USD/CAD…103.50 seems to be the next closing barrier. macro stops are a figure away @ 104.50
AUD/USD…as long as there is no close above 102.50, you can sell rallies. 101.24 is weekly support.
EUR/AUD…needs to close over 128.50 for a try higher and under 127.00 for lower. Meaning, it’s caught in an area with no clear low risk trading.
GBP/USD…148.60-70 is the next major level with stops below. This is short term oversold ( sell rallies not weakness)
Oil…91.79-92.10 is your qtrly swing #. maintaining below 91.30 + a few gives way to “90.40-90.00” which is bear trap territory the first time down.
Bunds…145.52 will be a significant closing pivot.
30 yr.(H)…146.08-13 can reject. Buy stops are resting @ 146.17. 147.05 should provide a low risk sell level the first time up.
General Comments…
The whole board seems to be in a holding pattern.
Oil…looks to be the best short term trade. Sell big rallies.
Metals…could not follow through to the downside on Friday. The rallies are still failing.
The key to trading the currencies are in the crosses vs the Yen.
March, perennially, provides good trading opportunities. Just be patient and trade on your terms
where you can codify your risk.
Model Trading Portfolio……………..
Stop Close Profit Points
Everything I’ve written for the Month will appear.
Short Term View…We are using Monday’s closes ( 12/31/12) in everything for our trading bias for the qtr since all trading is bench marked against these closes.Use 2/28/13 closes as your short term pivots in everything.
Medium Term View…updated qtrly
These are static levels that do not change.
The Medium Term View will no longer be available in our general archive section until the end of the qtr., however new clients will receive a complimentary copy.