Midaz_Investments

AUDGBP (MIDAZ TRADING STRATEGIES)

Long
SAXO:AUDGBP   Australian Dollar/British Pound
AUDGBP
China has played this economical war well.
As the world struggles with coronavirus, The yuan has seen depreciating against the dollar, where demand for dollar is high due to its safe haven status.
This means that exports from china would be better off soon. This is why china has so much cash reserves, then lending the money to these western countries, acquiring assets along the way.
Since AUD is pro china play, while pound has plentiful political and economical instability. Our view of an uptrend will continue.
Buy this pair Pullback, the gradient is too steep to continue at this rate for long term, therefore we suggest to wait for a pullback to enter the long.
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