Trade idea for a cheerful market
CNY/JPY is a good proxy for traders’ optimism. The technical setup for it is also quite interesting.
AUD/NZD: levels to watch
Trade idea
SELL 1.0665; TP 1.0625; SL 1.0680
Last week, AUD/NZD formed a lower high on the D1 and then stayed below 1.0730/20 (April and May highs) during the following days. The pair is currently testing levels below the 100- and 200-week MAs in the 1.0700 area. On the H4, the picture looks pretty negative with all the key MAs above the price and providing resistance and the 50-period MA moving down to the 200-period MA: if the lines cross, it will e a bearish signal. Such a signal might correspond with the dip below last week’s lows around 1.0670. In this case, the downside target will be at 1.0625 (50-day MA).
Elizabeth Belugina
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Trade idea for a cheerful market
CNY/JPY is a good proxy for traders’ optimism. The technical setup for it is also quite interesting.
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