It hasn't gone unnoticed by some that I've never posted an AUD:USD analysis.
There are some reasons for this, the main one being that I have a bet that AUD:USD will make all time new high's in 2012. The year started great and just a few Week's ago AUD:USD was within 300 pips of delivering my winnings, but the recent correction has concerned me a little.
So there we have it, I have an agenda and ultimately a
Just a quick update on these 3 charts that I've been following closely this Week.
NZD:USD was presented last Weekend as a viable Swing Short but I didn't take a position myself simply because I'm already quite heavy on the short side of NZD across other trades.
After the rapid sell off earlier in the Week, Price has recovered equally
We've already discussed the Trending Characteristics of The New Zealand Dollar in this previous post analysing GBP:NZD so I'll get straight to the point on this one.
NZD:USD is showing some fairly classic signs of a short term top on multiple time frames and although I don't think price will play out quite like my annotated price projection, it gives an idea of
It's fair to say I spent much of the last Week sitting on my hands. The 2 currencies taking centre stage have been the Japanese Yen and the Swiss Franc which is exactly as I suggested in last Week's trading review. As the latter has some quite significant risks attached to it in the form of SNB's (so far weightless) promise to intervene, only the short Yen trade offered
I've just entered a spur of the moment USD:CAD long at 0.9993 based on some of the following parameters.
Firstly, although not a major factor in this decision, this long position has the potential to act as a hedge against my existing GBP:CAD short position (showing a 10 pip profit as I type). Ultimately the real decision for the basis of this trade was made upon
I've entered a long position in GBP:USD tonight. It's not really a position I'd consider a Swing trade though it may turn into one, it's simply a trade based on historic topping patterns previously seen in Cable.
Looking at the 4 hourly time frame we have an area of support (not a precise support level) that should soon
Not much volume around this Week, in fact, Mondays Stock Indices Volume was the lowest non-holiday volume for over 10 years! That makes for some quite dull price action.
Still hanging onto the GBP:CHF swing long which shows a 4 pip profit as I type this. Virtually every CHF pair produced really
Entered 2 new swing positions today, a EUR:GBP short and a EUR:USD short which I'll discuss here.
Just to get things straight, this position is risky, has low probability of being an instant winner, and goes against short term retail sentiment which is incredibly bullish right now.
However if the main trend is still to remain