AUD/JPY….94.40 is pivotal…only price action above 95.75 would be price positive.
Yesterday’s low of 93.09 is point & figure support. New price action below will leave room to achieve the first macro fib of 91 +- a few.
AUD/USD…sustained price action below the macro pivot of 102.15-25 leaves room to a move to 101-101.20. The (H) futures are presently trading at a 15 point discount to cash.
EUR/AUD..12875-90….129.35 -40 is the highest probability rejection zone.
Euro.. short term stops are just below 130 which matches the monthly ORL# of 129.98. There is room to 129-128.80 ish if the stops are elected, which is 1/2 way back from the July 2012 low.
131.35 is near term resistance with closing price recovery over 132.30 for higher.
EUR/JPY…117.81 is mvg avg support. 117.26 is first intermediate Fib support. Macro support comes in at 115 + a few.
For now the cross is going sideways hanging around the 50 day mvg avg of 119.83. We’ll see if we get any price separation.
Spu’s…need to go 1488 sellers for downside. The whole game here will revolve around 1493.25!
Will it close higher or lower on the month? This is your pivot for the next 2 sessions…it’s all you need to know.
General Comments…
Gold & Silver both hit resistance yesterday. If they are going to hold and form up for a rally, this is the day that they need to show that the breaks will hold.
This should prove to a difficult day to trade. Watch your levels in the Bonds, which have not changed, versus what the Spu’s are doing.
Model Trading Portfolio……………..
Stop Close Profit Points
No positions
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 1/31/13 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.