I'm expecting headwinds on 0.6750 because of volumes and rejection down from 0.6820(weekly level, MA's, border of channel). So you may go long now or wait for that rejection. Waiting is more conservative trade and best way to do it. We already traded AUD to upside in linked ideas few days ago. It was nice so check it out.
And one more thing... Look how they burned...
We trying to breakout downtrend channel, horizontal resistance and 50 day MA. It's not easy.
Last data suggests that in Britain things much better than in Euro zone but it doesn't reflect in a price. Don't forget Brexit.
BOE has more room to cut rates. Only 2 currencies that i'm buying euro against are GBP and CHF.
Many of you guys already talked about this one today.
I'm looking only for sell and not considering any long positions.
CAD dived after BOC . It was expected and we successfully traded it(previous idea).
Dynamics of oil prices not helping either but i think it's already in a price.
We trading in a range of 300 pips and approaching now to top of this channel....
Last 5-6 trades made a move in oil less painful and I'm considering to add to my longs in oil. News on vaccine, Inventories and RSI are supporting entry.
Conservative traders will wait for confirmation. Target 54.80(under uptrend line that becomes resistance, horizontal resistance and just shy of 38.2% Fibo correction.
They'll meet on 4-5.02. CAD at the bottom after rate decision and CHF on the roof because of a virus. Let try catch the bounce. we targeting 0.7350. Break of 0.7370 area to upside will open the way to 0.7450 in my opinion.
SNB told us last that they won't set a range for CHF but we all know that they will intervene....Technically we have support for this trade (oversold badly)
Stops or additional buying(depends on markets) in 1.06
Maybe you'll find it useful. What we see is a price movement in last 5 years. In my opinion(hope you see it too) spread between prices is close to extreme readings so i'm looking to sell it. You can convert barrel to BTU and compare prices, but let's keep it simple for now. Strategy is also simple. Sell WTI and buy Gas. Considering my longs on WTI it seems...
If you believe in "Phase one" and looking to buy NZD in my opinion you should consider to buy it against CHF. TP1 0.6530 area, target 0.6650. Start watching closely with the move below Sep 2018 lows around 0.6300. I'm trying to sell CHF for a while(linked ideas). Share you thoughts in comments below
After strong move higher I'm expecting at least half way correction. 1st take profit at 31.8% correction at around 112.00 area. Pullback after is also expected. Target 61.8% correction at around 110.00. we already trying to sell CHF in linked idea.