AUD,NZD/EUR/USD/FXWW News/GBP crosses/Trade Ideas/USD/JPY

Still prefer to stick with bearish USD play

Some of the levels are getting a bit trickier for instance in USD/JPY and AUD/USD, where it’s hard to justify being short USD at current levels. But pairs like cable are pretty crystal clear in my biased view, and recent price action has given me no reason to change my view.

  • USD/JPY; market is very bullish but as can be seen from recent retail and PB data, the market is also long. I’d be patient and look to buy exhaustive dips or alternately buy intraday when the Yen crosses turn bullish.
  • AUD/USD; it’s very hard to get bullish at .9325 just ahead of major technical resistance at .9350. Overall this goes higher I think but best wait for some exhaustive dips.
  • Cable; going higher! 1.63 first on way to 1.75. GBP is oversold on long-term view of crosses. Sentiment starting to turn, driven by improving data. That’s my view.
  • EUR/USD; sorry too hard! Sideways still most likely outcome but I prefer long to short (marginally).

 

  1. Hey Sean!
    1.75 in cable! I’m glad someone else is as bullish as I am! The upchannel is pretty hard to ignore isn’t it. My only concern is the way the economic data has been for the year says to me to get out before 1.60 for a retracement; blighty has had a good run recently and expectation is getting a bit ahead of itself. I’m happy to buy it back at lower levels!

  2. Hi Sean, after Australian job data, are you still suggesting long AUD in medium term? I was short AUD against all except JPY and it was quick 90 pips in 15 minutes in 6 pairs.

  3. Well done Tom. I took profit on my AUD/JPY longs few days ago as I felt it was overdone in short term. Underlying AUD story still bit dodgy so I prefer to wait now and buy AUD/JPY near 90.00 and see if neckline holds. Otherwise I’m leaving it alone.

  4. Sorry for the misunderstanding Sean. by you I literally didn’t meant you. anybody reading your blogs. aussie has baffled me time and time again and simply cannot be trusted

  5. No worries mate, I find it best to leave ccys alone which aren’t following my ‘logic’. I haven’t traded CAD or NZD for years and I think this was one of my best trading decisions to drop them. If I get a ccy pair wrong 3 or 4 times in a row, then I also leave it alone for a while or else reduce to minimum until the tide changes. Better than trying to force things which usually ends badly

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