From AUDCAD to USDJPY a Glance at 27 Pairs
June 6, 2011 
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A good portion of my time spend working with traders in live markets is determining which markets to focus on to trade. The rule of thumb is to focus on market’s where direction is complimenting price pattern. Once you have that down, 80% of success, as the old saying goes, is just showing up. Below is a list of 27 actively traded currency pairs and a snapshot comment on each. I never spend more than 20 seconds on each pair to avoid analysis paralysis and ensure I get an honest read. As Richard Dennis, the Chicago trader who founded and funded the Turtle Traders was fond of saying, when asked of his success, “there is less here then meets the eye”.
AUDCAD: it’s a bull; look for 111-25 – 1996 high
AUDCHF: watch 88-00 for a bounce
AUDJPY: watch 82.50 -83.00 for long-term buy
AUDNZD: shorter-term look for upside test of 134.00
AUDUSD: it’s a bull; 115.00 upside target
CADCHF: 80.00 long-term downside target
CADJPY: avoid; 2-12/ years of congestion
CHFJPY: 98.00 upside target
EURAUD: at resistance at 136.75, resistance 140, support 130
EURCAD: at resistance at 143.30, resistance 150.00, support 139.00
EURCHF: downside target 112.50
EURGBP: range bound between 80.00 and 95.00
EURJPY: upside target 125.00
EURNZD: solid support between 170.00 & 175.00
EURUSD: upside target 152.50 to 153.00
GBPAUD: support at 150; breach of 150 opens up long-term downside
GBPCAD: range bound 155 to 165
GBPCHF: long-term downside target 120.00
GBPJPY: short-term support 128.00 to 130.00
GBPNZD: Break below 200.00 opens up long-term downside
GBPUSD: intermediate-term range bound
160.00 to 170.00
NZDCHF: intermediate-term downside target 65.00
NZDJPY: range bound 60.00 to 70.00
NZDUSD: it’s a bull; up-side target 90.00
USDCAD: resistance 100.00, support 95.00
USDCHF: it’s a bear; downside target 80.00
USDJPY: It’s a bear; short-term support 79.50, intermediate-term support 76.50
To attend our next free webinar on how to determine market trend shifts go to: Overview of Directional Lines
Jay Norris is the author of Mastering Trade Selection & Management, McGraw-Hill, 2011, and Mastering the Currency Market, McGraw-Hill, 2009.
Trading futures or Forex is a risky endeavor and not suitable for all investors!
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