FXWW News/Trade Ideas

Changing my tune on the USD

  • USD/AXY moves are telling us something very loudly;
  • EUR/USD and cable are sitting close to technical resistance levels at 1.3425/50 and 1.5750 respectively;
  • USD/JPY in a wedge pattern between 96/99 but a topside break could really have the bulls chasing hard;
  • AUD/USD and NZD/USD weakness is becoming entrenched.

I reduced my cable longs a little earlier and am within a few pips of my AUD/USD stop-loss. Once done, I’ll be staying out of the market until the lights get brighter.

  1. Looks like time has really changed. Even a huge beat of Chinese PMI cannot lift AUDUSD above 0.90. Is this still about USD/AXY moves? EUR and cable seem to be much less affected, while JPY, NZD and AUD all weak.

  2. GBP/NZD is on an absolute TEAR this week. No sense in getting in front of an out of control freight train imo…unless you like doing that sort of thing. this thing could see 2.10 next week the way it is going lol. ive made a couple 80-100 pointers off long pound/kiwi this week, but good lord if i had only held/built my intial long from sunday night….:(

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