FOREX ANALYST PICKS

FOREX STRATEGIST
ILYA SPIVAK

My pick: Short New Zealand dollar-US dollar
Expertise: Global Macro
Average time frame of trades: 1 week-6 months

Last week, New Zealand dollar-US dollar broke through rising trend line support established from the lows in June 2010, suggesting a major bearish reversal is at hand. I will enter short from here ($0.7516), looking for an initial decline to $0.7362. A stop-loss will be activated on a daily close above the $0.76 figure. Near term, upside momentum is capped by a falling trend line connecting swing highs since the beginning of the month, now at $0.7574.

FOREX STRATEGIST
JOHN KICKLIGHTER

My pick: Long dollar-yen; Short Australian dollar-US dollar & euro-yen
Expertise: Fundamental and technical analysis with risk management
Average time frame of trades: 1 day-1 week

We had a great opportunity for meaningful reversals last week; but that fundamental drive has eased recently. That said, I’m maintaining my setup for a short Australian dollar-US dollar setup below $0.99 and my open euro-yen short on ¥113 (stop and first target 150 points) is still in place. In addition, I have taken a long US dollar-Japanese yen position from ¥81.85 looking for a slight risk-positive drift and natural reversal, keeping a stop and first target of 85 points.

FOREX STRATEGIST
JOEL KRUGER

My pick: Short Australian dollar-US dollar
Expertise: Technical analysis
Average time frame of trades: 1 week-6 months

We continue to favor risks for additional downside and like the idea of selling into current rallies. Ultimately, we see the market in the process of carving out a major top and any rallies from here should be well capped below $1.0200 on a close basis. Only back above $1.0260 gives reason for concern, while below $0.9800 should accelerate towards our objective. Short at $1.0170 for a $0.9500 objective. Stop at $1.0320.