FX: Seizing Opportunities in USD/CAD and AUD/USD With Strategic Long Positions

2023.11.16 06:44

Today’s Trade Ideas:

I have sat and watched bounce around and retest the break point of the trend line over the past month – I think it is now worth trying a long again at 1.3670/50, with stop below 1.3625.

As a trend follower, I have to try an long in the hope that this is a bullish breakout of the 3-month consolidation pattern. The break above the trend line, 23.6% Fibonacci, and 100-day moving average at 6470/90 should be a buy signal.

breaks above the early November high and more importantly the 5-month high set in June at 9767 for a buy signal. As we retreat for a retest of the break point, I have to try a long at 9775/55.

Source link