In spite the US Federal Reserve is providing unlimited liquidity to sustain the market , still the macro data are at historic low because of the shutdown in the country and also the buyback shares are way below the previous years, this recent rally in the market can be washed away if Trump is going to open new front with China: because he believe that source of the pandemic virus was a lab in China and he could use tariffs to respond on that.
Most Forex paires will be affected by this scenario are : AUDUSD, NZDUSD, AUDJPY, NZDJPY.
Update for the chart will follow.
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Related trade, short the AUDJPY when the correction is over.
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Related forex trade , Sell the NZDJPY after the correction is over. Chart on 240min
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NZDJPY 60 min chart. During the weekend we may read comment from China or Trump. Next week we will have good sell opprotunity on the NZD parires.
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VIX is taking the charge.
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*DRUCKENMILLER SAYS RISK-REWARD FOR STOCKS AS BAD AS I'VE SEEN
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If Risk On move, then WTI may test the bottom again.
Doesn't the classic head and shoulder pattern looks more symmetric?
OmarNAMOUCHI
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@Ringding58, i am not fun of head and shoulders pattern, the most important thing is that buying momentum is been lowing down, any conflict can spike uncertainty in the markets