It has been a slow month for my trading system, USDCAD long, and NZDJPY short continue to make good progress. GBPNZD hit target. This is the first new trade opportunity for several weeks.
The pair my have put in a double top at previous resistance suggesting that the medium term down trend may be returning. MACD is in a downtrend and RSI is good. The weekly chart shows a congestion area perhaps indicating a turning point. The point and figure shows a potential sell signal with a close below 1.10 Fundamentals here are a little unclear, the RENT is clearly in an easing cycle however the slowing Chinese economy may weigh heavily on the AUD
The pair my have put in a double top at previous resistance suggesting that the medium term down trend may be returning. MACD is in a downtrend and RSI is good. The weekly chart shows a congestion area perhaps indicating a turning point. The point and figure shows a potential sell signal with a close below 1.10 Fundamentals here are a little unclear, the RENT is clearly in an easing cycle however the slowing Chinese economy may weigh heavily on the AUD