Category in Trade Ideas

EUR/GBP and AUD/NZD in ‘recovery’ mode

These have been two of the more persistent bear trends in the crosses in recent months but both pairs are starting to show signs that a ‘bottom’ may be in place. AUD/NZD has some sizeable topside potential in my biased opinion and once the current 1.0725/1.0925 consolidation is breached, I’m expecting this pair to regain

EUR/GBP: Taking profit on medium-term shorts

I’ve been short this pair for months but the fact that we’ve consistently stalled at a major technical support level near .8150 (61.8% retracement of .7750/.8810) must be taken seriously; I will re-instate if this level is comprehensively broken; I remain long and moderately bullish on cable but we may well see extended consolidation 1.65/1.68

AUD/JPY: Testing water with small long near 90.35

Firstly, I’m not picking these moves particularly well at the moment and some of the cross moves in pairs like EUR/AUD have me quite baffled. Nevertheless, I still think it’s worthwhile buying AUD/JPY near 90.00 just to see if technical support holds. This level is a double-bottom neckline as well as a 61.8% retracement level.

Hard to find any clear signals at the moment but I remain bearish on EUR crosses

1.3500 in EUR/USD looks like it might be a key level, if that breaks then look for a sell-rally strategy in EUR pair of your choice; EUR/GBP is heading lower in a bear channel but will find profit takers near .8180; If EUR/JPY breaks below 140.40 again, then we should see a clean-out of longs