End of Day Summary: AUD is on the rise, GBP is falling

It’s Tuesday and some currencies are off to a nice jump already.

As you look across your charts, you’ll probably notice that the Australian Dollar and New Zealand dollar are among this week’s early risers.

You might also notice that the British Pound and Euro are some of the weaker currencies so far this week.

Sometimes, it’s obvious what currencies are strong and which are week, but it’s quite difficult to find good trade opportunities that leverage those strengths and weaknesses.

But this week happens to be a great opportunity.

The AUD’s early strength and the GBP’s early weekness combine for a great trading opportunity with a MASSIVE Target.

Take a look at this STRIKE TRADE on the Daily Chart:

gbpaud_june_10

 

As you can see, the current daily bar is breaking out of the recent retracement with great momentum AND provides an excellent Risk to Reward.

As a matter of  fact, Target 2 (highlighted in blue) is about 1,200 pips from the current price. Now, THAT is a nice profit potential 🙂

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