I thought the Cad was stronger but i was probably wrong. New York Forex is about to open and on NZD which is a long term buyer, there seems to be enough sellers to buy from. i am anticipating the buy at the same spot where i am selling cadjpy.
CAD interest rates yesterday pushed price higher as the numbers remained unchanged and crude oil inventories supplies got narrowed better than expected and London session did not sell it; it probably means they are still holding their ppositions. All theses are still good news for CAD in my opinion. I am buying it against the Yen which i expect to remain weak on a...
Gold buyers showed interest at the first demand area. From this behaviour i am starting to think, is the buyer still desperate about the buys? Do he still wants it like hot cakes? i am not holding over the week end. Expecting to be filled during NFP if my read is right. Max Target 1700, Max loss 1578. All details on chart
Pound flow is temporary strong and USD is expected to be weak as a consequence of the epidemy on the economy.
New York Market/Short term seller momentum seems faded accross the board.
The volume seems to be rising progressively since Asia showing interest in momentum.
The seller who drived price lower than the previous low intention, is probably to get a better price.
Assuming the NFP numbers came out extremely bad, i expect the US dollar to be weak. At least temporary!
I Set my stop loss that wide not based on my recent low but with the purpose to be able to scale out with
a minimal equity draw down if i happen to be wrong.
Trade exclusively based on correlation. Buyers are not letting go of their positions as the pullback was really shallow on relatively low volume. The trade is labeled A little bit risky as i couldnt read the sellers momentum. I expect to hold the position max till midday US.
AUD extreme strength is keeping it base currency's (GBP) price action structure in sellers territorry. I have identified the present short term buying candles in the pullback phase as sufficents to induce more Retail buying as the high volume which occured recently can be interpreted as the footprint of the massive transactions which took place at that moment;...
Selling USD to buy more CAD. Nice trend pullback design showing a mini consolidation prior to the major news for the day on high volume. Which is probably a sign of smart money loading up more long position on the Canadian Dollar