David Long

The Flying L Trader – January the 28th

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A rather subdued night really, I get the sense that the nerves are tightening and investors are waiting for the FOMC announcement. Commodities did move a bit, oil down 1%, gold -1.3% and copper down 0.4%. Asian stock markets had tumbled across the boards and the UK Footsie also fell 1.7% but the Americans are in the green. So a mixed bag to the start of the week.

DATA HIGHLIGHTS TODAY – AU Business confidence. UK GDP. US Durable goods & Business confidence.

AUDUSD – An inside bullish bar gives us, again, nothing much to work with today.
Resistance: 8890/9167/9300/9428
Support: 8654/8550/8300

EURUSD – A LLLH and test bar. It also is not giving any clear signals of direction
Resistance: 13733/13830/14065
Support: 13488/13420/13266

GBPUSD – A LLLH but bullish bar. Would like to get long but just not ready to yet.
Resistance: 16610/16785/1.69
Support: 16300/15950/15830

NZDUSD – Yep, starting to reverse off the lower side of the range….
Resistance: 8475/8535/8607
Support: 8190/8131/8100

USDCAD – Another LHLL but also a buyer bar, even bullish, waiting to see momentum collapse in this.
Resistance: 10985/11060/11290
Support: 10560/10420/10195

USDJPY – I think we may have found a bottom to this run. Lets see it tomorrow.
Resistance: 105.57/108.35/110.50
Support: 101.65/100.00

GOLD – Still making its way north but not convincingly.
Resistance: 1265/1,307/1,350
Support: 1,225/1,180/1,040

BITCOIN (from Mt.Gox exchange) – Falling back to lower band of range of 950, last at 979.

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