Dollar future weakness likely.
Resistance + Trend & DXY projection = Short USDSGD
*Could push though, watch H4 & Daily candle closures + watch DXY as it may have a bit more strength in the tank!
AXY looks geared up for a significant move to the upside *strength
USD (DXY) might push up a little bit more before retracing *USD weakness
Might be early on this one, but SL is tight and TP to SL ratio is good.
Previous Short Setup Netted Us Over 222 pips profit. *All in orange!
New setup would be a long either from where EJ is at now or after another stretch to the downside at one of the next support levels.
EUR (EXY) -> Could go either way, but the data suggests it will gain strength.
JPY (JXY) -> Should see a correction to the downside by later this week, could...
Looking at a potential short trade on USDCAD
USD could have a bit more strength in the tank first, however.
CAD looking to make a nice move to the upside (strength) if it does not break lower on CXY
Will have to wait for more confirmation both TA & Funda. wise.
This supposed virus thats sweeping the US is a great scare mongering tactic, clever move government! Scare everyone so it pushes the price of gold up. And if people do catch this so called virus it has been man made for the purpose of keeping the population down.. China are known for this.
We have had a spike through our weekly level thats drawn on the chart...
Bottom supporting trendline, holding. + support structure.
*Don't forget about Brexit at the end of this month!
GBP -> BXY -> *could go either way -> Betting on BXY strength
+COT Data -> GBP = Strength
Add in USD -> DXY -> Bearish (weakness)
+COT Data -> USD = Weakness
Simple resistance based setup including an ascending channel with resistance trend/zone
Add in JXY (JPY*YEN) TA:
JXY -> Strength
+COT DATA -> JPY = Strength*
EUR -> EXY -> Has been weak and it's unclear where it's headed next
COT Data suggests that EUR will be losing strength and getting weaker supporting our EURJPY short trade.
Simple supportive trendline combined with support structure.
Add in DXY (USD) TA:
DXY -> Weakness
+ COT Data -> USD = Weakness
The EUR side of the equation is the question.
EXY TA -> could go either way
EUR COT Data -> Mixed
*Setup to watch for.
*Not an entry call.