Best to stay with crosses for trading opportunities
Whether it be GBP/NZD, CAD/JPY or EUR/AUD, I think we are likely to find more volatility, more reversals and more swing-trade opportunities in the cross pairs rather than in the traditional USD majors.
When I started out trading the spreads in pairs like GBP/JPY were so wide you could drive a bus through them! That has all changed now and the pricing makes virtually every exotic cross a potential swing-trading pair.
hi Sean!
can you post a chart for cad/jpy?
https://www.tradingview.com/x/BYBftZar/ this is the daily chart with my thoughts. Favour buying big dips or running with small positional longs
Here’s weekly EUR/AUD as well https://www.tradingview.com/x/fuIRm3EZ/
And finally CAD/JPY https://www.tradingview.com/x/QuDzD1T3/ (it’s early here!). Looks to me like we will have an extended 95/104 trading range with shortish-term support near 95ish and long-term Fibo resistance near 104. I’d play this range. Short-term risk-reward favours shorts with recent highs still holding