We will focus on NZDUSD shorts this week...
A small study shows us that NZD is lagging AUD moves, both 10Y bonds and currencies, thanks to our besomebodyfxterminal.com tools we know that demand for NZD is low since Feb 26 (which allowed us to catch a nice short last week) and remains low until March 10, this further supports our bias for NZD shorts.
Fundamentally we have the awful Chinese PMIs data that will send both AUD and NZD lower immediately at the open so shorts will be interesting only after an upside retracement, we will look to short only upon more confirmation which we look on lower timeframes, exact entries will be shared with the private network members, have a good trading week.
A small study shows us that NZD is lagging AUD moves, both 10Y bonds and currencies, thanks to our besomebodyfxterminal.com tools we know that demand for NZD is low since Feb 26 (which allowed us to catch a nice short last week) and remains low until March 10, this further supports our bias for NZD shorts.
Fundamentally we have the awful Chinese PMIs data that will send both AUD and NZD lower immediately at the open so shorts will be interesting only after an upside retracement, we will look to short only upon more confirmation which we look on lower timeframes, exact entries will be shared with the private network members, have a good trading week.
Opportunity in GBPCHF longs...
CHF is at same levels from when historically the SNB intervened in the markets, this is a nice long term opportunity since we are heading into a high demand period for the Pound and the CHF is likely to be devaluated by the SNB further, this could be the trade of the quarter and holding longs pays positive swap too.
We have set our pending orders and communicated it to the private network members, attached you will see a nice pattern we sometimes look for our entries, follow your plan here and wait for your confirmations
CHF is at same levels from when historically the SNB intervened in the markets, this is a nice long term opportunity since we are heading into a high demand period for the Pound and the CHF is likely to be devaluated by the SNB further, this could be the trade of the quarter and holding longs pays positive swap too.
We have set our pending orders and communicated it to the private network members, attached you will see a nice pattern we sometimes look for our entries, follow your plan here and wait for your confirmations
BeSomebodyFX
We will focus on NZDUSD shorts this week... A small study shows us that NZD is lagging AUD moves, both 10Y bonds and currencies, thanks to our besomebodyfxterminal.com tools we know that demand for NZD is low since Feb 26 (which allowed us to catch a nice…
Never had any confirmation to pull the trigger in NZDUSD and completely lost interest in it after the FED cut rates by 50bps as an emergency cut (last time was 2008), we think it's a premature choice and will hurt the USD as more cuts will need to be implemented especially if stocks keep making new lows, so as you can see NZDUSD shorts not interesting anymore
BeSomebodyFX
Opportunity in GBPCHF longs... CHF is at same levels from when historically the SNB intervened in the markets, this is a nice long term opportunity since we are heading into a high demand period for the Pound and the CHF is likely to be devaluated by the…
Took a loss on this trade, bias is still valid, this feels a lot like a stop hunt, if we get back above 1.2220 i will reconsider adding new longs
EURUSD not stopping before 1.14...
We bought a small chunk of EURUSD last week at 1.11x but took profit way to early at 1.12x expecting a better entry which never came and price kept grinding higher, this week we will monitor the 1.12 handle, zone where we will be interested in adding some small positions and keep them as long as price doesn't close a day below 1.12, target will be the liquidity level at 1.14x
Will need to monitor the ECB meeting this week and react accordingly to their actions, if they fail to surprise the markets with some strong dovish inputs then EURUSD will move towards the 1.15 level in the coming weeks, ready to capitalize on this with our private network members
We bought a small chunk of EURUSD last week at 1.11x but took profit way to early at 1.12x expecting a better entry which never came and price kept grinding higher, this week we will monitor the 1.12 handle, zone where we will be interested in adding some small positions and keep them as long as price doesn't close a day below 1.12, target will be the liquidity level at 1.14x
Will need to monitor the ECB meeting this week and react accordingly to their actions, if they fail to surprise the markets with some strong dovish inputs then EURUSD will move towards the 1.15 level in the coming weeks, ready to capitalize on this with our private network members
BeSomebodyFX
EURUSD not stopping before 1.14... We bought a small chunk of EURUSD last week at 1.11x but took profit way to early at 1.12x expecting a better entry which never came and price kept grinding higher, this week we will monitor the 1.12 handle, zone where we…
Crazy market open due to the OIL market crash, took profit on a long USDCAD on the private network and still into a GBPNZD small long from last week, meanwhile EURUSD hit liquidity target at 1.14 but never gave us a chance to enter, will personally monitor any pullback as potential buy opportunity upon confirmation but without much conviction now that the 1.14 has been hit that was the final target since our first long at 1.11x
USDCAD the best Dollar long for the next 2 to 3 months...
Retail traders have been trying to pick the top in USDCAD since 1.33, price is now trading 600 pips higher and squeezing them out, retails keep selling it and went already from 84% shorts at the beginning of the week to 88% shorts currently, we see them reaching extreme levels around 95% shorts as they keep trying to pick the top here against all fundamentals.
What's the fundamental reason for the trade?
After the FED emergency cut yesterday of 75bps the BoC will have to follow and will bring rates close to 0 too, the markets have priced in only a 38bps cut from the BoC for the April meeting which means a surprise cut of 50bps will be a decent CAD negative we expect a new emergency cut to be announced as soon as this week, but that will not be the main driver for the trade, the main reason will be the data coming our of Canada in the next few months, the cocktail of low OIL prices and Coronavirus lockdowns will be a disaster for Canadian data.
Retail traders have been trying to pick the top in USDCAD since 1.33, price is now trading 600 pips higher and squeezing them out, retails keep selling it and went already from 84% shorts at the beginning of the week to 88% shorts currently, we see them reaching extreme levels around 95% shorts as they keep trying to pick the top here against all fundamentals.
What's the fundamental reason for the trade?
After the FED emergency cut yesterday of 75bps the BoC will have to follow and will bring rates close to 0 too, the markets have priced in only a 38bps cut from the BoC for the April meeting which means a surprise cut of 50bps will be a decent CAD negative we expect a new emergency cut to be announced as soon as this week, but that will not be the main driver for the trade, the main reason will be the data coming our of Canada in the next few months, the cocktail of low OIL prices and Coronavirus lockdowns will be a disaster for Canadian data.
BeSomebodyFX
USDCAD the best Dollar long for the next 2 to 3 months... Retail traders have been trying to pick the top in USDCAD since 1.33, price is now trading 600 pips higher and squeezing them out, retails keep selling it and went already from 84% shorts at the beginning…
Target for us is 1.45, and will look to buy upon confirmation after a pullback towards 1.37x
BeSomebodyFX
USDCAD the best Dollar long for the next 2 to 3 months... Retail traders have been trying to pick the top in USDCAD since 1.33, price is now trading 600 pips higher and squeezing them out, retails keep selling it and went already from 84% shorts at the beginning…
Not much to say about this, went straight to target and didn't give us a chance to enter, we have been calling a weak CAD and USDCAD higher since 1.30 in the private network and we are now 1500 pips higher, haven't been able to enter on this last push but profited from it a few weeks ago, on the long term picture more upside will come but we need a correction first to make this a solid trend, if you want to follow our trades with more info and analysis everyday this weekend we are going to open 3 seats for the private network, contact @JayRally to book a seat
USDJPY likely to squeeze higher towards 112.00 as retails try to short it...
Retails are shorting heavily USDJPY and went from 92% longs at the beginning of the month to 59% currently, they are trying to pick the top of the pullback here in USDJPY which suggests us that this can keep squeezing higher towards 112.00 liquidity zone
Retails are shorting heavily USDJPY and went from 92% longs at the beginning of the month to 59% currently, they are trying to pick the top of the pullback here in USDJPY which suggests us that this can keep squeezing higher towards 112.00 liquidity zone