Its always interesting to hear what other traders are doing. Its always good to have someone else’s opinion to challenge your thinking.
I would say that short NZD/CAD on 19/12 is very aggressive. I rarely short stuff if the 20EMA is above the 50. Its a wide spread pair with historically low volatility, and the AUD/CAD chart is increasingly bullish (I have been long this pair): NZD often follows AUD.
USD/JPY has been a fabulous short. Surely it has further to fall…
All green to start the new week, but will it continue?
Note, those stock market numbers are from Friday, American markets are closed today
Mixed day, no big moves
Still holding my USDJPY short and long nzdcad and eurcad
Wild ride in yen pairs yesterday
Today we have continuation to the downside, this should mean a down stock market to follow
more downside, but we did see some buying late in the day so maybe the Yen pair selloff is over for this week
Regarding the USDJPY, by reverse do you mean 20 pips, a weekly range, or a reversal to 150?
What is it based on as I see no supporting price action to suggest any recovery from here.
Anything can happen of course, but this thread is about strong weak, not crystal ball.
Thanks
Yesterday I said this
and today we get a big Yen pair rally
How does that affect the S/W situation?
Any new signals on the reverse?
Or are you suggesting day trading now?
Are you the SW thread police?
Maybe you are?
I’m just asking for the supporting technical analysis logic behind comments such as “that pair is about to reverse”
Is that a problem for you?
Thanks for your concern.
Not at all officer.
i went long nzdjpy…regardless of the sw analysis…the nzd has alot of upside based on its interest rate differential to the yen and more to come. Big upside.
I still have JPY as strongest of the major currencies. There could be some significant shorting opportunities at current levels and if that appeals any of the JPY pairs should be on the target list.
@FOK This is not a Forex signal service nor about price action/technical analysis of forex pairs. This is the work/research that you have to do on you own.
As you saying: This thread is just about how Strong/Weak currencies are and all what is written here is what one can see on the basis of the correlation numbers.
We should not argue against here but just appreciate the work @Dennis3450 is putting in here since it give us a good and easy orientation in the Forex market.
Whoa, touchy, touchy, slow down there cowboy, I’m the one being accused of being the forum police!
I do know what the thread is about. If you read back, I’m not the one posting private signals; do I need to point those out to you?
Why not tear a strip out of them before attacking me? They virtually mention they are ignoring S/W, post a signal, and yet you must choose to criticize me?
The internet loses all logic IMHO…
Have a good day
FWIW… My two Pence…
The monthly chart above displays the UJ all the way back to 1992…
See any patterns of interest?
If we take a REAL LONG time overview of price action on this pair you can see levels, congestion, strength and weakness zones over a ridiculous amount of time…
Blue line is a 48 Day MA (Level) of the USDJPY’s price over this period… As we see many times with price action historical pricing can have an effect on current pricing…
Those that follow this thread have seen me display how price likes to move to a level of equilibrium on more than one occasion… If I were trading this pair (I’m not) I would expect price to continue down… Run into some resistance at the 124 -123 zone and eventually continue back to it’s “arbitraged” level/zone…
But…
We are living in unprecedented times with a rocky US Economy, Pandemic hangover and a grinding conflict in Eastern Europe which could escalate into a larger skirmish at anytime…
Chose your trading strategy carefully…
