Here’s an interesting setup about to unfold…
Sell From the Resistance OR Buy on Break…?
There is also Major Events for NZD on wednesday…!!!
ANY COMMENTS WELCOME
I would say short term sell on pullback, but CHF has been very weak, so long term would be to buy.
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Friday was such a strong day for my AUD and NZD longs that I felt I just had to bank the profits soon after the London close. The probabilities of a repeat of Friday’s performance on Monday would be slim - a pull-back through Monday would be more probable and that should give me a chance to set some new buy orders lower than Friday’s high.
No idea what happened to CHF but it went down like an Alpine avalanche.
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LOL… Nice one.
i have been really busy past few months with not much time for trading but its always on my mind wondering what oportunities i may be missing.
NZD pair seems more tame better structure than the AUD pair though…
And its been ages since price has been around this area…
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I like to reference this chart once and a while:
Clearly we are in a risk on environment.
So if RISK ON:
US Equities UP, And USD should be UP too…??
USD/jpy, USD/aud USD/nzd USD/chf all should go up…
USD/cad DOWN…
AUD/jpy, NZD/jpy CAD/jpy ALL UP TOO.
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WHY would Dollar
be down ? or avoid
The why is not always clear and there can be multiple factors. Right now US has been printing lots of money due to the pandemic, which devalues the currency.
USD, JPY and CHF have all been weak for some time now.
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OK thats a fair point. can’t keep track of all the variables right now to be honest
So AUD, NZD are the strongest currencies of the majors right now then ?
Looking like that Buy on NZD might be Valid from @tommor Then …!!!
I hope to get more buy orders in on one or both AUD and NZD but this will not be before tomorrow’s (Monday’s) London close - I am trading purely off daily charts and I need to see a lower high and/or lower close before my next buy order goes in. I’m staying off AUD/NZD, as there isn’t a marked differential in strength between the two when paired off.