FOREX ANALYST PICKS

FOREX STRATEGIST
JOHN KICKLIGHTER

My pick: Short euro-sterling and Kiwi dollar-dollar
Expertise: Fundamental analysis with risk management
Average time frame of trades: 1 day to 1 week

It doesn’t surprise me that the medium-term setups I laid out for euro-dollar, Aussie dollar-dollar and dollar-yen last week didn’t gain traction. Market conditions are extremely volatile and direction fully lacking. I expect that to continue this week. Setting scenarios with the US deficit issue, a dollar-positive outcome would benefit dollar-yen, dollar-Swissie and Kiwi dollar-dollar reversals most. That said, I like the lower risk profile of a euro-sterling break below £0.8715.

FOREX STRATEGIST
JOEL KRUGER

My pick: Looking to buy dollar-Swiss
Expertise: Technical analysis
Average time frame of trades: 1 day to 1 week

Despite the intense downtrend resulting in recently established fresh record lows below SFr0.7800, short/medium/longer-term technical studies are looking quite stretched, and I continue to like the idea of taking shots at buying in anticipation of a major base. Monday’s fresh record lows by SFr0.7750 seem to have been very well supported, and we would be on the lookout for a break and close back above SFr0.7950 to encourage short-term reversal prospects and accelerate gains. Back below SFr0.7750 negates.

FOREX STRATEGIST
ILYA SPIVAK

My pick: Stay short euro-dollar
Expertise: Global macro
Average time frame of trades: 1 week to 6 months

EU debt fears re-emerged as markets began testing EU officials’ resolve to act on the bold promises made at the Brussels leaders’ summit. Longer term, deficit-reduction plans still bode ill for economic growth and interest rate hikes. I entered short at $1.4328 last week, as prices broke though rising wedge support following a failure to hold above $1.46, marked by a bearish engulfing candlestick pattern. My initial downside targets are at $1.4172 and $1.3975.