Game Plan: 11/14/2012

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Market: Eurex EURO STOXX 50 Index Futures, $FESX_F Trading Levels: 2480/2510 Target: 2430/255

If the 2480 will be able to support the futures the buying pressure could sent the $FESX_F to test the 2510 mark, where sellers stand ready to fight the up-move. A breakout of this short-term resistance has 2550 as a target.

If the $EURUSD will not be able to breakout the 1.2750$ mark we will stand ready for opportunities on the short side of the market, preferably a 2480 breakout for 40/50 points run toward the 2440/2430 target.

Market: USDJPY, $USDJPY Pair bounced around today but maintained support around the 79.20 level. We still like this pair for further push higher.

Looking to buy at the 79.20 support level for a longer term strategy to test 82.

Market: AUDJPY,$AUDJPY

Double Bullish signal, look for a test of recent highs

Originally posted at www.77sigmatrading.com

Posted in: News, Forex, Global, Markets, Trading Ideas

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