Im currently on my holiday in the UK, I had a bit of time so made a short video. NZDCHF has done it again.
At the time of making the video, it was only 32 pips but I managed to close it 80 pips in profit later.
As I mentioned several times and even the start of the year, the dollar index broke a major level.
Since then I said I am bullish on the dollar and will look to short the majors.
That was spookily accurate and we are still seeing Dollar strength so my Bias remains the same.
Remember I am looking for “A” grade trades from daily charts that I can place and then just walk away. We have been waiting weeks for a setup, they might arrive this week.
EUR/USD: Bias is only to short,” I was hoping for a pullback to 1.1000 which has not materialised thus far, but if is more possible now. Other area to watch intraday (see the video) 1.0830
The only way I would trade this if it doesn’t do the big pullback would be to go down to 4 hour or even 1 hour charts. You can also see that it is in a range at the moment.
USD/CHF: I said a couple of weeks ago as it hit parity that under no circumstances would I long it and it was probably, at the very least, pullback. It has pulled back now as I expected. I only want to long it. However, it is a pair to watch. The levels I will watch on 4 hour charts are 0.9500 and 0.9440.
GBP/USD: I only want to short. The “A” grade short will still be 1.3070 which seems unlikely now. This is a “B” grade for me for now. 1.2930 to 1.3000 will be my first area to watch.
AUD/USD: Only looking to short at the moment and 0.7270 is the sweet spot. Intraday 0.7160 is worth watching too.
NZD/USD: Brokedown. The “A” grade is back up at 0.6750 to 0.6790. I will split the order in half there.
USD/CAD: I would be interested in a short at 1.26730 at the break of the trendline. Watch the video.
NZD/CHF: worked well a number of times in recent weeks. I will watch the same area, 0.6300 to 0.6320 to short it. I said this almost 2 weeks ago and it has done it this week again. It missed my second entry but caught the first one to the pip! I would have missed it if it was any further up. Currently 75 pips in profit.
EUR/GBP: It is too messy now. Wait to see what happens after the Euro news but will probably trade it next week.
Aud/NZD: Looks like a better option BUT it overreacts to news so be careful. 1.0820 is the area to watch for a long OR if it breaks and closes below 1.0780 on a daily then I will consider a short.
YENS: Still too far away from anything in order to trade with the trend. However, I showed last time how you could go to 4 hour charts and quite a few worked. Not for me but see the video for my thinking.
You can watch the full video below: