FOREX ANALYST PICKS

FOREX STRATEGIST DAVID RODRIGUEZ

My pick: Stay short euro-dollar below $1.2750
Expertise: Algorithmic trading
Average time frame of trades: Two-10 weeks

I remain short the euro-US Dollar pair from $1.2850 and I believe we will see continued declines throughout the near-term. A hold below $1.2750 keeps my bearish bias intact, as this represents key short-term congestion resistance. My short-term target is at the $1.25 mark, and if fears about European sovereign debt worries continue to surface, this target could be reached fairly soon. At which point I will take a partial profit to reduce my risk.

FOREX STRATEGIST ILYA SPIVAK

My pick: Short euro-dollar at $1.2660
Expertise: Global macro, classic technical analysis
Average time frame of trades: 1 week-6 months

Euro-dollar has confirmed the break of a rising trend line set from the lows reached in early June with a push through horizontal support in the $1.2715-$1.2755 congestion region. The fundamental landscape calls for a bearish bias, with the pair closely correlated with risk appetite (as tracked by the MSCI World Stock Index). I will enter a short position from here, initially targeting $1.2130. A stop-loss will be activated on a daily close above $1.2925.

FOREX STRATEGIST JOEL KRUGER

My pick: Still looking to buy dollar yen at ¥84.00
Expertise: Classic technical analysis
Average time frame of trades: 1 week-6 months

The market has been under intense pressure over the last several weeks, with a fresh wave of declines triggered below the latest ¥84.70 lows. However, with technical studies starting to look stretched, we do not see the drop below ¥84.70 as being sustainable and would instead look to take advantage of any additional weakness as an opportunity to buy. My strategy is to buy at ¥84.00 for a ¥100.00 objective; with a stop at ¥76.00.