Once again we’ve seen a major fall in price for a number of pairs. We managed to short on the way for a number of them, mainly the yens and whilst we continue to monitor them, some other pairs may be in play too. Check out the details below for upcoming opportunities.
AUDCAD – Long
AC is steaming towards demand again at the moment and if it continues as it’s started then it could reach the demand level below soon. I’ll be watching for either a bounce or a short trade on an engulf as there is room for it to fall below.
GBPJPY – Long
USDCAD – Long/Short
UC is heading back towards demand and has a somewhat clear path down to it. We could be on for shorts on the way before we hit the demand level where I’ll be assessing the potential for longs.
USDJPY – Long/Short
UJ hit demand last week and after an initial rally from the zone, the daily candle closed red. I’m be watching to see if it makes another effort to go long of whether sellers will take it lower. If the demand level gets engulfed there is still room for it to fall easily. This is USDJPY however and this pair often does what it wants to do, more so than others.
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