trade idea

AUD/NZD is potentially heading to 1.10+

The AUD/NZD is looking very bullish in my view and I think it will break to a new high above 2020’s peak in the coming weeks, so here is one way to take advantage of the potential rally. Before I share my long idea, let’s take a look at the monthly chart, below, which shows …

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Thoughts on EUR/USD at 1.20ish

The EUR/USD has finally dipped back to long-term support around 1.20ish and I see a lot of bearish commentary around it. The bigger picture is still bullish as per the weekly chart, so I will be actively looking to go long on the first sign of a bull signal on the daily or lower time …

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CAD/JPY could follow GBP/JPY lead and break higher

Thanks to ongoing risk-on and reflationary trades, stock and crude oil markets extended their gains on Thursday, while safe-haven Japanese yen and gold sold off. The USD/JPY was among the best USD pairs, while other yen pairs also rallied – most notably, the GBP/JPY thanks to a hawkish Bank of England. Investors are now looking …

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USD/CAD set to resume lower?

The USD/CAD may be about to resume its bearish trend, thanks mainly to ongoing weakness or the US dollar and the rebound for crude oil boosting the appeal of the Canadian dollar. More to the point, there was a technical failure for the USD/CAD to hold its breakout above the key 1.32 handle on Thursday: …

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Gold rebounds but more pain than gains likely

Gold and silver have both rebounded today, along with equity markets. But after last week’s big falls, more pain could be on the way for gold bulls than gains this week. As we reported the possibility earlier last week, safe-haven gold continued to head lower despite widespread concerns over the outbreak of coronavirus. However, I …

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Gold about to turn lower again?

With risk assets rebounding off their lows this afternoon, safe-haven gold, which has stopped going higher over the past couple of days, could turn lower soon. If it does, this is one of the ways to potentially trade it short: This is somewhat similar to the short gold trade that was taken on Tuesday, which …

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