Pound hangs on to it’s top spot but it is the surging Euro that everyone is talking about. GBPCAD is top SW trade but anything long Euro is a good play. Yen continues to dive lower as US stocks rally again
Big up day for #1 GBP and another bad day for #8 CAD which is all good news to my #1 Strong Weak trade GBPCAD, up as much as 371 pips from its April 21st entry price
Lets not forget the previous top SW trade GBPAUD up +346 pips , this trade was triggered off of the big breakout candle from April 18th. Staying in this trade would had taken your best poker face as you would had to endure a 3 day -100 pip pullback, but would had been rewarded over the last three days.
GBP opens up large lead over the rest of the pack, Euro’s Monday opening gap is starting to fade
Long Pound against any of the commodity currencies is the place to be this week
Yesterday did I say the Euro was starting to fade, scratch that, Euro up big overnight, if the pattern continues we should see a big opening gap higher for US stocks
Stocks were in full bull mode for the week, many new highs, Nasdaq at new all time high, Energy remains in bear mode, Gold pulls back with stocks rising, Surge in Euro but GBP hangs on to top SW spot, Top Strong Weak trade from last week GBPCAD has a nice weekly gain.
All this and more covered in my weekly market review video
NZD followed by AUD lead the way today, GBP weaken a little but still holds the #1 spot
GBPCAD is still #1 strong weak trade, giving back a little today from it’s Friday’s high of 445 pips.
Hi Dennis,
Stumbled across this thread the other day. Been reading through it, loving your analysis.
Keep up the great work. I’ll be following closely and hope to contribute also.
Cheers!
Hi Benjwoo
Thanks for the positive feed back and welcome to my thread
After a one day pullback, GBP is back to extending it’s lead over the back, Top Strong Weak trade GBPCAD topped +500 pips from it’s April 21st entry point
USD and CAD lead higher today, while AUD was weakest, Top SW trade GBPCAD pulled back a little
Back on April 13th post #566 I noted that USDJPY was trying to hold the 200 day moving average , in a catching a falling knife trade it did reverse at the 200 dam and is now +400 pips above that ma
So, today I scalped the market for some positive pips with help from your strong weak currency analysis using the Yen.
I’ve set up separate watch lists to monitor all JPY pairs, watching real time to see which is the strongest/weakest then dropping on to the appropriate chart looking for scalps in direction of the trend using my system for entry/targets.
Thanks Dennis, feels like i’ve completed another piece of my personal forex puzzle.
EDIT: So at the time of scalping, I was looking for trades on the EUR/AUD.
The whole European block was strong today lead by Euro, and another ugly day down for commodities lead by CAD. Top SW trade GBPCAD is now up 523 pips from it’s entry point
Good play Ben, EURAUD has been on a nice uptrend following the pinbar reversal on Feb 22, and has really accelerated this week
Previous top Strong Weak trade GBPAUD is still a valid trade and topped +500 pips today from it’s April 18th entry point.
Commodity block is in rally mode today, this is seen in the energy sector as well, broader markets is flat. This could be a turning point for CAD and AUD, if short these two, be careful here
Stocks rally with many new highs, oil reverses, Gold and Silver weak, Pound continues to rule the currencies , Bitcoin explodes higher, all this and more covered in my weekly market review, just click link below
USD lead market higher as Yen completed it’s decent to #8, Euro was really weak early as you had a sell the news type move but recovered a big chunk of it’s loses by days end. CHF was weakest on the day