Objective Forex: Trading Week 2/29/16

Sunday, February 28, 2016

Trading Week 2/29/16

Although initially rising our EURUSD short did work at as EURUSD fell down to a new support level at 1.09. Hopefully many of you were able to capture some gains from our play.

We are switching sides now as EURJPY looks attractive for a reversal possibly.

We are looking for a quick drop on EURJPY open before we establish a strong LONG position.


For stocks we have some exciting high risk high reward plays.

RJET (Republic Airways Holdings) has declared chapter 11 bankruptcy as some of you have most likely heard, and there is always a bitter sweetness of airline stocks declaring bankruptcy as we all are aware of American Airlines persevering out of bankruptcy with skyrocketing share price.

RJET seems to have stable support around $0.80 for now and we anticipate this will be a good short time buying level.

Keep in mind bankruptcy does not guarantee shares will survive the restructuring, maximum loss possible.

Buy under $0.75

MYL (Mylan Inc) is a relatively unknown pharmaceutical company which has had some increased volume and volitility recently with some new developing products and projects.

We see large short to medium term upside at $45.00 or higher share price.

Buy under $45.00

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