FOREX ANALYST PICKS
FOREX STRATEGIST
JOEL KRUGER
My pick: Buy dollar-Swiss franc at SFr0.9705
Expertise: Classic technical analysis
Average time frame of trades: 1 week-6 months
Our buy order from last week never triggered and we will once again look to take a shot. Setbacks have finally stalled out after posting fresh record lows in the SFr0.9500s. Short-term and medium-term studies are certainly looking quite stretched while longer-term cyclical studies warn of a major bottom. This sets up the potential for a bullish reversal, with a break back above SFr0.9700 to confirm bias and likely accelerate gains. Place a stop at SFr0.9440 and target SFr1.0500.
FOREX STRATEGIST
JOHN KICKLIGHTER
My pick: Long sterling-dollar above $1.60 and short euro-dollar below $1.36
Expertise: Fundamental and technical analysis with risk management
Average time frame of trades: 1 day-1 week
I’m keeping my pending euro-dollar short setup open; but I have moved my entry close level to a move below $1.38. To play the alternative scenario (a dollar breakdown), I like the potential with sterling-dollar moving about its 61.8 per cent Fibonacci retracement level and a double top at $1.60. If there is a close above this level, I’ll set my stop approximately 150 points lower and set my first target equal. The second objective will be significantly higher.
FOREX STRATEGIST
ILYA SPIVAK
My pick: Short euro-dollar pending the market
Expertise: Global macro, classic technical analysis
Average time frame of trades: 1 week-6 months
Euro-dollar is showing signs of reversal below the $1.40. Prices are breaking lower from a rising channel that had contained them since early September after hawkish comments from Federal Reserve vice chair Janet Yellen weighed on expectations of renewed QE. Negative relative strength index (RSI) divergence bolsters the case for a move lower. I look for confirmation on a daily close below $1.3800 to go short, targeting the support at August’s swing high at just above $1.33.