Tonight I’m looking at a few prices that have short term swing potential.

EURJPY: I’ll be looking for BUY setups at about 111.50.  Watch for moves up to about the 112.75 level.

EURUSD:  Looking for BUY setups at 1.2200.  Moves should run up to 1.2300.  Watch for trouble at 1.2250.  Once it pushes through, it should run right on up to 1.2275.

GBPUSD: I’ll be looking for long trades in the late Asian session between 1.4700 – 1.4675.  If a setup appears, I’ll trade up to 1.4788 or so.

Please keep in mind that we’re in potential long-term reversal points right now.  There can be a lot of whip sawing at the current levels.  Add to that the fact that we’re in summer-trading mode and you have potential for a really messy trading environment.  Combat this with tight “hard” stops.  I’ll be trading these setups (if they appear) with 20-30 pip stops.  I recommend the same.

Please also keep in mind that these are price zones at which I will be looking to place trades.  A valid entry signal will be required to actually place risk.