AUD, USD, NZD & GBP - Market Barometer Update
Hi guys, after yesterday's FED USD dump, we have a few currencies to watch. However, most of the currencies are still hanging out around the 50 level (short term top chart, long term bottom chart).
USD - not surprisingly, we are seeing more selling beginning to build. Yesterday's push was massive, but it's not over. Expect more selling today, followed by a correction.
AUD - as we predicted, the AUD made a strong bullish move and after a quick short term consolidation, the AUD is forming a second push. Expect more AUD strength today, into tomorrow.
GBP - the short term shows a very strong bullish move. The long term shows a pretty clean upward channel. If this channel holds, the short term correction will soon give way to another rally. Expect continued strength all day from the GBP with short corrections as it grinds higher.
NZD - very similar to the AUD bullish move, but inverted. This is the beginning of the NZD sell-off. I wouldn't try to fade this pair today. Expect a strong sell-off all day.
Still waiting on the other currencies to break outside the 60-40 box.
This is not investment advice, just my opinion(s). Please trade accordingly.
Trade safe and keep an eye on news.
USD - not surprisingly, we are seeing more selling beginning to build. Yesterday's push was massive, but it's not over. Expect more selling today, followed by a correction.
AUD - as we predicted, the AUD made a strong bullish move and after a quick short term consolidation, the AUD is forming a second push. Expect more AUD strength today, into tomorrow.
GBP - the short term shows a very strong bullish move. The long term shows a pretty clean upward channel. If this channel holds, the short term correction will soon give way to another rally. Expect continued strength all day from the GBP with short corrections as it grinds higher.
NZD - very similar to the AUD bullish move, but inverted. This is the beginning of the NZD sell-off. I wouldn't try to fade this pair today. Expect a strong sell-off all day.
Still waiting on the other currencies to break outside the 60-40 box.
This is not investment advice, just my opinion(s). Please trade accordingly.
Trade safe and keep an eye on news.
