USD is going to sky rocket this October as global economies are going to suffer from lockdowns. We are already seeing countries like Canada, France, Israel, and the UK reinforcing lockdowns. Additionally, BoA has updated its forecasts for October, being bullish on the safe-haven currencies such as the USD and JPY, and short on the Euro and equities.
Rising covid19 cases in the UK
Brexit talks this week - gloomy outlook
Falling covid19 cases in Australia + approaching hot season after
Budget deficit announced by Australia which might boost the economy
China's economy is showing signs of recovery (AUD is highly correlated with CNY)
As shown on the chart
Europe is entering the winter season and fears of a second wave is on the horizon. Cases are steadily increasing.
Australia is approaching the summer season after a relatively low number of covid AND flu cases in the winter season.
Brexit talks this week with a gloomy outlook. Brexit shouldn't heavily affect the Euro, but it could, and the...
Chart is clear. This pair is going up.
1. Close 50% of position at TP1, move stop loss to breakeven once that is done.
2. Close rest of positoin at TP2.
3. Initial stop loss at 1.5x ATR under the support.
Do not fight the fed.
The market is and has always been forward looking. Investors don't care what the economy is doing RIGHT NOW, they care what the economy is going to do in the future. I believe SPX will reach an ATH before the elections this year, possibly to 4000.
To all the bears out there: Stop being loss averse and join the trend ;)
Simple double top pattern as you can see in the chart. I am going to be risk-averse and close all position at the neckline (hopefully), but might take some risk and only close 75% at the neckline and wait to see if the downtrend continues to the first base