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.