Today, I am writing the analysis, because I have a serious case of hiccups. I tried recording a few times–it wasn’t good.
So let’s take a look at some of the potential trade ideas we have in the Market.
The EUR/USD is still moving slowly and struggling. It has been consistently making lower lows, but has not shown clear momentum in either direction. My plan is to wait for it to react to the next level and look for a trade opportunity at that point.
The GBP finally, after crashing for weeks made a strong move back to the upside. This could be a possible pullback and then a higher move to test a critical level. Keep a close eye on the GBP.
The AUD is showing very strong continuation toward the upside. Definitely looks like it wants to move up to test the long term trend line that price has been under for quite some time.
EUR/GBP made a strong multiple day move off the top of the channel we have been tracking. Is there enough momentum now to break out below this channel, or will we see another bounce to contain the EUR/GBP within this channel?
USD/CAD FINALLY broke out of the wedge that was holding it near 1.0300. We could see a strong move now to lower prices, but be careful for the retest move on the USD/CAD.
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