FXWW News/Trade Ideas

Trade ideas updated

  • NZD/JPY: Hopefully you took advantage of the rally to 83.95 yesterday and the short-term target is 81.25. I think this pair is in consolidation so cover shorts on any significant dips and sell rallies now back towards 83.50.
  • USD/CAD: Hasn’t reacted to the Fed but still looks like a decent short-term buy ahead of 1.0425 (but I’m usually wrong on the CAD, thanks for reminders yesterday 🙂 )
  • EUR/GBP: I remain short and very bearish but support levels should be decent .8275/.8300 so don’t be afraid to cover shorts on big dips and re-instate on rallies.
  • Cable: I’m still long and bullish but sell orders yesterday were heavy between 1.6180/1.6200. It’s certainly possible that we could see another dip below 1.5900 if the short-term USD bulls can muster some momentum, but every dip is a must-buy in my very biased opinion.
  1. I’m comfortable with the range trading on the Eurgbp recently. I also shorted the s&p at 1800 and expect a mild correction to 1700-20, how does that sound? Us debt talk is already starting? No?

  2. Sean, I’ll have to short the cable for now until we reach 1.6… I think Feds poems will be played for few more days, and they are going to hurt GBP and EURO.

    What’s your opinion regarding USD/JPY? It seems everyone else’s shedding pips but not Yen. It didn’t move an inch after FOMC.

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