Further USD strength / NZD weakness is pulling the NZDUSD further into long side territory and lows previously seen. Should you get long?
Yen pairs across the board have seen upside movements mostly on a tentative BOJ. Potential hikes on the horizon but not immediate by any means. Some moderate euro strength also feeding in to markets has supported further. Plotted Short/Long zones (1) must be light.
FARTCOIN has seen major inflows over the last 24HRS. Very decent long areas on dips with rejection following. If you are going to liquidate, do so when you can see rejecting flowing from the short side.
Poor growth data out of the UK has led to a drop in the value of GBP. Sideways trajectory has persisted on this pair. Current sentiment may support this case further into the week.
Downside momentum has come post BOC decision and also post some worse GDP figs out the UK. Short bias held.
XAUUSD (Gold) falling into key long zones. Notable areas labelled with description.
GDP data out of UK looking poor, hitting GBP lower. Will this price move continue?
EURUSD has lagged since falling to local lows. Sideways movement ensued as the dollar rally has paused and dawdled. Awaiting further sentiment. If nothing major changes, may see sideways continue (warranting light longs). Any neg sentiment may drag to lows.
Here's my rundown on how I am trading GBPAUD. Fast swing can be vicious but not existential.
Shorts preferred on rally to local highs. Comes about on some AUD weakness (doves). Awaiting further sentiment & US data.
NZDUSD is continually dripping on further antipodean weakness. This comes despite impetus from recent Chinese economic outlook and its benefits to antipodean currencies (AUD and NZD). Now sitting at keys and low levels. Many deciding whether to long or not.. It is a KEY tech level long. It could drip lower but if you act sparingly this will be no issue. Reserve...
Here's a brief explanation of why stop hunts happen as well as an AUUDSD full analysis/runover post US CPI.
Momentum really stalling as we return to local highs. A lot of pessimism around current state of UK economy and growth going forward in high tax conditions. Maintaining shorts on key tech levels.
GBPAUD has rallied back towards highs bringing about the question of re-short entries. Here's the tech/fund case.
NZD strength into today off the back of economic hopes in China has smacked EURNZD to the mid-point of the local sideways movement. Preferred long now & later.
Demand inflows into gold have seen USDZAR take a whack. Would not be surprised if momentum carries lower in near term. Questionable on how far gold will rally as already at key levels. No longs until larger falls, no shorts further unless re-push in trend.
Strength feeding into metals today is giving way to momentum and local price rejection. Would not be surprised if slight trickle before any continuation. Sentiment case would need to persist to continue rallies.
AUDUSD has seen demand inflows on some economic hopes out of China. Todays larger rally has taken it off the lows. Comes off the back of sever AUD weakness into the weekend and no crushing USD weakness. Here's my take.