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AUDUSD is at key resistance

Tbirdfx  dans #Technical analysis #Trader's blog #Audusd
AUDUSD is up against key horizontal and trendline resistance at the 0.7620/30 level. This sets up a short opportunity with a good risk:reward ratio. On a break above this area, we can easily see a short squeeze toward the 0.7730 area as bears throw in the towel. If this happens, we would likely see across the board dollar weakness with the euro and pound also going higher. Liquidity will still be lower than average on Friday because many US traders will still be on their Thanksgiving extended w…
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AUDJPY trade idea

Tbirdfx  dans #Technical analysis #Trader's blog #Audjpy #Fundamental Analysis

Going into the US Thanksgiving holiday, I am keeping an eye on a non-USD pair: AUD/JPY.
JPY has showed relative strength, even on days where equities have been going up. Conversely, the AUD has been showing weakness, even on the back of rising commodity prices in recent weeks. Therefore, I believe that shorting the AUD/JPY is the right trade based on a fundamental analysis (my directional bias).
From a technical perspective, the pair is at support, which is the upper part of the trading range f…
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USDJPY not impressed by equity strength

Tbirdfx Publier 21 nov  dans #Trader's blog #Usdjpy #Correlations #Indices
While equities, and especially US indices, show strength today, I take note of the fact that the Yen is still relatively strong, which could be a warning sign that stocks will soon correct lower again. Soon should mean in the next 1-2 days going into the Thanksgiving holiday. USDJPY has retraced a bit from the key 112 area where a confluence of support held it up on Monday. At this point, I'd begin to look for new longs in JPY pairs against USD, EUR and also AUD.
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