FX Rundown (Week of July 24th)
Posted: July 24, 2023, 7:36 a.m.
Today's FX Tactical Ranges*Markets with increased volatility in the overnight session are highlighted |
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For additional information on using the FX Rundown for your self-directed trading, please refer to the bottom of this email for a brief explanation. Most successful traders use a mechanical trading system
You need to know
When managing a trade, position sizing is the most overlooked yet critical in increasing your chances of remaining in the market long enough to catch the next trending market. |
Technical Spotlight - 7/24/23 Aussie Dollar (September) |
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Technicals: The trend following trading system is Bullish Trend Activation Date: July 12 Bull Trade Trigger: 0.68075* Trend Neutralizer: 0.66490* A close below neutralizes the existing bull trend. Last Session Settlement Price: 0.67430 Support: 0.66000** Resistance: 0.69500*, 0.70000*** Initial Margin $1,980 Maintenance Margin $1,800 Last Trade Date: September 18 |
Technical Spotlight - 7/24/23 British Pound (September) |
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Technicals: The trend following trading system is Bullish Trend Activation Date: June 9 Bull Trade Trigger: 1.2595* Trend Neutralizer: 1.2748* A close below neutralizes the existing bull trend. Last Session Settlement Price: 1.2862 Upcoming Seasonal Trend in Play: None Resistance: TBD Support: 1.2717**, 1.2524**, 1.2472**, 1.2322**, 200 DMA at 1.2208, the recent contract lows of 1.1871 and the Initial Margin $3,300 maintenance Margin $3,000 Last Trade Date: September 18 |
Technical Spotlight - 7/24/23 Canadian Dollar (September) |
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Technicals: The trend following trading system is Bullish Trend Activation Date: July 12 Bull Trade Trigger: 0.75900* Trend Neutralizer: 0.75165* A close below neutralizes the existing bull trend. Last Session Settlement Price: 0.75785 Resistance: 0.76360** Support: 0.74945**, The volatility surge leaves 0.74250-0.74000* as a Major level of support, followed by the recent contract lows. Initial Margin $1,760 Maintenance Margin $1,600 Last Trade Date: September 18 |
Technical Spotlight - 7/24/23 Euro (September) |
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Technicals: The trend following trading system is Bullish Trend Activation Date: June 16 Bull Trade Trigger: 1.09960* Trend Neutralizer: 1.09930* A close below neutralizes the existing bullish trend. Last Session Settlement Price: 1.11560 Resistance: 1.09930* Support: 1.08650*, 200 DMA at 1.07820, 1.06650** Initial Margin $3,190 Maintenance Margin $2,900 Last Trade Date: September 18 |
Technical Spotlight - 7/24/23 Japanese Yen (September) |
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Technicals: The trend following trading system is Bullish Trend Activation Date: July 13 Bull Trade Trigger: 0.731800* Trend Neutralizer: 0.709350* A close below neutralizes the existing bullish trend. Last Session Settlement Price: 0.711400 Resistance: 0.730000* Support: 0.710000* Initial Margin $4,400 Maintenance Margin $2,900 Last Trade Date: September 18 |
Technical Spotlight - 7/24/23 Swiss Franc (September) |
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Technicals: The trend following trading system is Bullish Trend Activation Date: July 7 Bull Trade Trigger: 1.13395* Trend Neutralizer: 1.13055* A close below neutralizes the existing bullish trend. Last Session Settlement Price: 1.16160 Resistance: 1.13050 Support: Long-term support remains at 1.13500 and the 200 DMA at 1.10430 Initial Margin $4,400 Maintenance Margin $2,900 Last Trade Date: June 19 |
Technical Spotlight - 7/24/23 U.S. Dollar (September) |
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Technicals: The trend following trading system is Bearish Trend Activation Date: July 7 Bear Trade Trigger: 101.95* Trend Neutralizer: 102.46* A close above neutralizes the existing bear trend. Last Session Settlement Price: 100.79 Support: 99.00 Resistance: 102.00**, 103.50** Initial Margin $2,090 Maintenance Margin $1,900 Last Trade Date: September 18 |
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