FX Rundown (week of 8/2)
Posted: Aug. 3, 2023, 8:30 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 - 8/3/23 Aussie Dollar (September) |
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Technicals: The trend following trading system is Bearish Trend Activation Date: August 1 Bear Trade Trigger: 0.66190* Trend Neutralizer: 0.68340* A close above neutralizes the existing bear trend. Last Session Settlement Price: 0.65555 Support: 0.65000** Resistance: 0.67570** (200 DMA), 0.69500*, 0.70000*** Initial Margin $1,980 Maintenance Margin $1,800 Last Trade Date: September 18 |
Technical Spotlight - 8/3/23 British Pound (September) |
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Technicals: The trend following trading system is Neutral Trend Activation Date: TBD Bull Trade Trigger: 1.3029* A closing settlement above starts a new bull trend Bear Trade Trigger: 1.2676* A closing settlement below starts a new bear trend Last Session Settlement Price: 1.2722 Upcoming Seasonal Trend in Play: None Resistance: 1.3000** Support: 1.2717**, 1.2524**, 1.2472**, 1.2322**, 200 DMA at 1.2259 Initial Margin $3,300 maintenance Margin $3,000 Last Trade Date: September 18 |
Technical Spotlight - 8/3/23 Canadian Dollar (September) |
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Technicals: The trend following trading system is Neutral Trend Activation Date: TBD Bull Trade Trigger: 0.76254* A closing settlement above starts a new bull trend Bear Trade Trigger: 0.75057* A closing settlement below starts a new bear trend Last Session Settlement Price: 0.74975 Resistance: 0.76000**, 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 - 8/3/23 Euro (September) |
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Technicals: The trend following trading system is Neutral Trend Activation Date: TBD Bull Trade Trigger: 1.11595* A closing settlement above starts a new bull trend Bear Trade Trigger: 1.09328* A closing settlement below starts a new bear trend Last Session Settlement Price: 1.09675 Resistance: 1.1100*, 1.1200* Support: 1.08650*, 200 DMA at 1.08240, 1.06650** Initial Margin $3,190 Maintenance Margin $2,900 Last Trade Date: September 18 |
Technical Spotlight - 8/3/23 Japanese Yen (September) |
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Technicals: The trend following trading system is Neutral Trend Activation Date: TBD Bull Trade Trigger: 0.726150* A closing settlement above starts a new bull trend Bear Trade Trigger: 0.703250* A closing settlement below starts a new bear trend Last Session Settlement Price: 0.703100 Resistance: 0.730000* Support: 0.700000* Initial Margin $4,400 Maintenance Margin $2,900 Last Trade Date: September 18 |
Technical Spotlight - 8/3/23 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: 1.14025* A close below neutralizes the existing bullish trend. Last Session Settlement Price: 1.14545 Resistance: 1.16000 Support: Long-term support remains at 1.13500 and the 200 DMA at 1.11170 Initial Margin $4,400 Maintenance Margin $2,900 Last Trade Date: June 19 |
Technical Spotlight - 8/3/23 U.S. Dollar (September) |
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Technicals: The trend following trading system is Neutral Trend Activation Date: TBD Bull Trade Trigger: 102.57* A closing settlement above starts a new bull trend Bear Trade Trigger: 100.34* A closing settlement below starts a new bear trend Last Session Settlement Price: 102.38 Support: 101.00**100.00**, 99.00 Resistance: 102.00**, 103.50** Initial Margin $2,090 Maintenance Margin $1,900 Last Trade Date: September 18 |
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How to use the FX Rundown The FX Rundown is a technical system that uses end-of-the-day settlement prices to identify "bullish," "bearish," or neutral positions by analyzing hundreds of data points. The system removes the human element by giving the reader actionable trading ideas that attempt to position for new trends in the market. The system will keep track of the hypothetical open trade equity as reflected in the day's settlement. How the system works To establish a "long" position, the settlement must close above the "bull trade trigger." At that point, the "bear trade trigger" will act as a protective stop level. Conversely, to establish a "short" position, the settlement must close below the "bear trade trigger." The "bull trade trigger" will be a protective stop level at that point. Remember, the system will not flip directly from long to short but shift to the sidelines, reflecting a "neutral" position for at least one day before establishing a new signal. Risk Management Although protective buy and sell triggers are listed, we suggest using stop losses that you are comfortable with financially and technically for risk management. Please consult your broker or the trading desk if you have any questions. |
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