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Elephant Bar up take out the 2 red candles. Go long. Price is too far from SMA200 - might retrace.

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EUR is weak but the AUD is weaker. Chart shows that base had formed at 1.6488 on 10 Oct 2023. The trend is up for this currency pair on a steady basis.

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EURUSD had definitely broken down the bullish channel over the past 2 to 3 weeks. It could be the European economic weakness and the strength of the USD after the resolution of the debt ceiling is driving the short EURUSD. That said given the current moves, the EURUSD might retrace first today before going down. Look at the short trade parameters.

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In the heat of the moment, when big news such as the optimism of over the US debt ceiling and US rate hike causes big bullish move in the USD, we tend to extrapolate that currencies will go in one direction. However, the truth is that currencies are like rubber bands. When it hits either bands, we should expect the currency to rebound back

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The GBPAUD is clearly showing weakness in its daily chart and a turn in its weekly chart. The fundamental reason for this weakness is clear: the UK continues to be weak generally despite slightly better PMI readings this week. More importantly, the RBA is of the view that inflation continues to be too high in Australia and isn't afraid to continue to raise further...

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NZDCAD is one of my favourite longs. Slow and steady. Not like the crazy volatility in the JPY weakness last week or today's spike in AUD strenght. NZDCAD is in a flag upwards. I just need to keep it tight, maybe around 50 pips & only 1 trade. Might be able to short it once in a while when it is range mode but my preferred trade is still the long side.

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Could it be that the failure of the First Republic Bank is causing weakness in the GBP & EUR? Chart is starting to look bearish.

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The USD is showing some terrible weakness today after going up strongly yesterday. It could be due to the better than expected down on oil inventory which stimulated demand for USD and lessen fears of recession forcing down a Fed rate hike. So the USD strengthen yesterday on 26 Apr 2023. Now on 27 Apr 2023, the USD Strength seems to have reversed. The long EURUSD...

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The daily chart of the EURCAD on the Heikin Ashi chart shows clear uptrend.

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Is it just me or is the USDJPY starting to forming a bearish top at the daily chart? Is the market risk aversion favouring the JPY now against the USD after weak US Consumer Reports?

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The weekly chart of the GBPAUD shows a strong uptrend. To me, they are aided by the fundamentals of weak oil prices. On an average daily basis, GBPAUD moves 25 pips. So need to enter at the right price - reminder to self.

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This is interesting. The rapid USD Strength due to risk aversion as US Consumer data weaken sharply had moved the GBPUSD 122 pips in 15 hours - real sharp move. Now the GBPUSD is rebounding 26 pips and counting to its .236 level and counting.

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It is likely that the USD strength on 14 Apr 2023 is misplaced. GBPUSD seems poised to recover part of its strength today on 17 Apr 2023.

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While the previous idea shows a bullish gold on the monthly chart, the daily chart shows significant weakness for gold and it might retrace back to the HKEX:1958 position from the current HKEX:1993 price point over the next 5 to 7 trading days.

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The monthly chart of EURUSD shows lower highs which doesn't gell well with the de-dollarization theme and near end of Fed rate hike cycle. This week's weekly candle looks like an abandoned baby to me for the EURUSD.

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The weekly chart of the USDSGD shows clearly the weakness of the USD against the SGD. This weakness has been building for a while now. The fact that it has retraced just below the .382 level indicates a long term weakness in USD despite Fed Rate hikes. For Singapore which has an export based economy, this is significant as it makes the country less competitive....

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I am not sure why but the USD is clearly gaining strength as seen in the DXY and the EUR which had strengthen in the last week is reversing into severe weakness. I will just trade this short EURUSD position.

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The USDCHF shows a clear downtrend. I have drawn the trendline downwards and it should be clear.