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It seems like the sky is falling over the paund. But isnt this scenario one of the best cases for the british currency? Of course it is. The biggest fear of BREXIT is already priced in the paund, so the surprises could be only positive, except of course the worst case scenario, which still is quite distant in time. The british paund is also testing its bottom which give the traders a very good level to limit their losses. So good luck to all brave investors. It seems reasonable to long paund aga…
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Yen at critical levels against all the majors
We may see a very rare opportunity connected with the Japanese yen. The Yen made a low at 112.75 this morning against the USD, a level tested at the moment. If that level holds, we can see a very good rebound and test of the top of 115 yen.
And vice versa, a break down could open the way all back down for a test of 110.97.
So a possible strategy could be buying at the moment with a close stop loss at 112.5, or selling with a sell stop order at about 112.70, with stop loss at 113.20.
Both strate…
And vice versa, a break down could open the way all back down for a test of 110.97.
So a possible strategy could be buying at the moment with a close stop loss at 112.5, or selling with a sell stop order at about 112.70, with stop loss at 113.20.
Both strate…
USD/JPY
It is so strange to see the S&P 500 tp go up and the pair USD/JPY to go in the opposite direction. So according to me something strange is happening, that should be corrected. In these means either the dollar should go up or the Index should go down. A bit of both is also quite possible. By the way a very strong support at 113.3
GBP/CAD could be forming triangle
GBP/CAD could be forming triangle. The fall seems to me overdone especially with the price of oil close to 35 USD per barrel. The pair is close to a very key support of 1.95-1.9520. If the last levels contain the further drop we could expect a good retrace toward 2 dollars for a paund.
GBP/AUD
Very interesting channel. Two possible scenarios. First does not break the bottom under 2 and heading to the upper end of the channel at about 2.05. Second - makes lower low like previous times, touching the low end of the channel. Then entering in long position should be when coming back over the previous low of 2.
It is time to long the paund against CAD and
It is about time to long the british paund. Especially against the yen. The british currency is close to its low, which I think could be tested unsuccessful. Another currency against which the lira should go up, is canadian dollar. The crude oil could fall further to test 30 USD per barrel which should give more downward pressure for the CAD.
Time to long CAD
I think its time to get long in USD/CAD. Very Strong support at 1.36. First serious resistance at level 1.3850. If breaks it then we go to test 1.40. And who knows maybe oil will fall again to test 30 dollars to barrel, which could lead to more gains for the dollar.