I gather there was also some central back jawboning relating to the Kiwi overnight, just something to keep in mind.
Stuart
Stuart
What's your view on bitcoin guys? Do any of you own it? I'd be interested to hear of any experiences.
It looks like it might be gearing up for a move on way or another - a nice clean trendline has developed off those huge highs late last year...
Hi Stuart, yes, out of everything on my screen at the moment, I'm liking the look of EURAUD and EURCAD. Of course, I could be wrong, but at the moment they are looking pretty nice to me.
I'm not as excited about NZDUSD and AUDUSD, to be honest, I think they are giving off somewhat conflicted signals at the minute, but I suppose it depends on the length of your outlook. On NZDUSD, the bulls closed out last week very strongly, so I would like to see some weakness before I became interested again to the downside. AUD/USD actually looks quite bullish now too, so that sort of mixes things a bit too.
In short, don't take anything I'm saying as gospel, I'm no better at forecasting future movement than you or anyone else, it's just that I prefer to focus on the charts that look the cleanest and generally forget about the ones I'm not so keen on. For me right now, the ones that interest me are EURCAD and EURAUD. That might change in the coming days or weeks, but that's my read of the market right now, for what it's worth!
Good luck!
Nigel - Your advice is always welcome. There will always be times where we have views that don't match up exactly, that's the great thing about sharing on a forum where people contribute their own thoughts. I have already made a couple of great trades as a result of your analysis. I hope that in the future, some readers may be able to learn from my posts too.
AUDUSD is a shorter term trade for me, I was using the daily as an anchor chart, I will be looking for a 1 to 5 reward on this trade and if I get that, I'm out with at least half the position.
NZDUSD It's definitely sending mixed messages, I will probably wait and see how the week closes before committing a trade.
Hope your trades continue to make progress.
Stuart
Hi All,
I'm back this week and it seems just in time!
I took three trades today. Two shorts on the NZD/USD and one short on the GBP/USD.
One trade got stopped out for a loss on the NZD but the other two seem to be shifting to the downside.
NZD/USD = 0.8665
GBP/USD = 1.6870
There's news tonight on the NZD. Fingers crossed is bad!!
Good luck all