This pair identifies strength vs strength in the forex markets right now with both currencies strong across the board.
We can see GBP is gaining on the NZD breaking through key short term Resistance levels. Lets see what happens at our long term key level in price.
Use wider stop losses on this pair to account for the choppy price action.
GBPCAD 4hr potential, Target in sight. Waiting to see the pound strength come through.
This weekly resistance could prove to be a hidden obsticle for the short term, if the GBP strength can rally through can take a long position.
Positive rise from may 2020, transitions from trump to Biden with new laws and restrictions, we should see a negative shelf in the near future. However it is a good test for Americans economic resilience. Any other ideas or opinions welcome !
USDCAD H4 - A simple break of these cluster/consolidation highs around this 1.34 handle followed by a subsequent retest could set us up nicely for a chance to grab an entry in with the long trend.
Price has now broken out of this descending TL, and retraced into the 38.2 fib level. With a weak NZD and GBPUSD ready for a retracement I believe we will ger a push higher in this pair. EYES PEELED ON 4HOUR close, if we get a doji candlestick like this I will enter this trade.
We have seen very little movement since mid June in the markets, as shown clearly with the currency strength chart.
Currently we see AUD strength and USD weakness - using a currency strength chart like this can be very useful as an extra confluence in your trade.
Regards
Darren
NzdUsd at a decent level of resistance on the 60 minute can give us some relief, RSI massively overbought so I would be cautious with overly aggressive targets.
Pound strengthening, breaking the 0.382% retrace. An hour left in the monthly candle but it's finishing strong which usually indicates a continuation into the next month. Target 0.500%.
(...just in time for booking a driving and safari holiday!)
There are a few factors that indicate a big EUR sell off in the next few weeks. A break in the current resistance with little support in the way for reversal and a declining economic strength will be in favour of the USD to push the EUR further to the short side.
AudJpy has put in a strong move to the downside and currently at support so we can see some relief but also a retest of the lows due to the strength of the move to the downside.
Hello traders.
During the London session this morning we are seeing consistent strength in the Swiss Frank with all pairs increasing in value. Meanwhile the opposite is true for the Japanese Yen - all pairs are down making the Yen weak.
The result of strong vs weak is a trend. Our pick today is the CHF/JPY pair for a long position.
Here's why..
CHF Pairs:...
Good morning traders, the London session is well under way now and we have an excellent opportunity to go long on the EUR/GPB as we see the pair breakout to the upside.
In the background we see all GBP pairs falling and all EUR pairs rising in price - here's a breakdown of each pair since the start of the London session.
EUR Pairs:...
Hello traders... The New Zeland Dollar continues to see heavy selling across all currency pairs as we continue through to the New York session. Fresh strength is now coming in on the Swiss Franc giving us a new opportunity to short with the NZD/CHF pair. Here's a breakdown of each pairs price movements since the start of the London open this morning:
NZD Pairs:...
Good morning traders. The London session is well underway this morning. Since the start of the session the USD is gaining points on all pairs whilst the opposite is true for the NZD. The combination of strength and weakness between the two currencies makes the Kiwi Dollar an excellent pair to short.
USD Pairs:...
With the London open well underway, the Canadian Dollar is losing points across all pairs. This gives us a low risk opportunity to score some early pips for a quick profits if we play the CAD weakness against one of our stronger currencies.
CAD Weakness:
USDCAD +0.18%
NZDCAD +0.15%
GBPCAD +0.10%
EURCAD +0.27%
AUDCAD +0.06%
CADCHF -0.29%
CADJPY -0.46%
Today's...
Playing GBP weakness against the strength of the Japanese Yen for a quick turn around. 60 pip stop loss with 120 pip take profit.
This morning in the London session we have seen the British Pound continue its downtrend across all pairs:
GBPUSD -0.11%
GBPNZD -0.14%
GBPCAD -0.04%
GBPAUD -0.02%
GBPCHF -0.19%
GBPJPY -0.31%
EURGBP +0.16%
The strength in the...
