AUD,NZD/FXWW News/GBP crosses/Trade Ideas

Trades to watch for, Friday November 29th

  • Stay long cable, this is a no-brainer in my view. I’ve cancelled my take-profit orders this morning and will re-assess;
  • GBP/NZD: Big technical levels currently and this pair has potential to experience a lot of volatility; I’m bullish but care needed if it suddenly starts to reverse;
  • I’m small long AUD/USD this morning at .9110 looking to add above .9140. My reasoning is that the big real-money sellers will be taking a long weekend and we could see a short-covering rally inspired by end-of-month demand.
  • Elsewhere, I prefer to be long EUR/USD and leave USD/JPY alone.
  1. Morning Sean, I consider you advice GOLD, so thanks for the Post, But I did have a question regarding USD/JPY, I heard of some corporate accounts with Short orders at 102.25 and 102.5 lined up, and Milan and yourself also mentioned regarding some orders in the Chatroom earlier. Personally we are so close to 103.7 (considering we went up 420pips this month) I wouldn’t dare trading right now personally, BUT the Bear in me wants to believe if Not tomorrow Come monday we might pull back a little, Any thoughts?

    Also regarding EUR/USD I have a Channel which the pair has broadly fitted in perfectly from 2005 Low, 2008High, 2009Low, 2010 High, and 2012 Low and All the highs and low hit the channel perfectly, now the next high would be perfect at 1.39ish, Maybe i’ll post the chart in the Chat room, But if you look at a daily Chart or a Weekly, your eyes will immediately see it pretty Clear, Let me know what you think if you got time… 🙂

  2. Hi Abdullah. Honestly I’ve got no idea on USD/JPY and whilst the sell orders are there for sure, it could easily cut through them. Best to wait and wait and see if a quick opportunity arises.
    EUR/USD is definitely in sideways trade with modest bullish bias and we might still be talking about it on our retirement day 🙂

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