EUR/GBP has fallen largely due to a weakening Euro and GBP strength (hesitancy from the BOE). This weakness can only really go on for a limited amount of time before short side action stops and long side entries are filled in. Investor longs likely to come through and occur.
NZD/USD has fallen post FED meeting yesterday after comments have led to USD strength. More risk off may come and give NZDUSD a larger kick.
AUD/USD has not been weighed on post FED comments yesterday, AUD strength has also come off the back of higher retail sales. Here's my thoughts for October.
The USD weakness seen amongst USD pairs has come mostly from a supposed quicker easing cycle out the FED. Still looks like there is room to go based on sentiment and price momentum.
GBP/CAD has rallied on a continued quicker easing cycle / rhetoric from the BOC. BOE giving off slight hawkish signals also feeding rally. Would expect larger fall in future.
Larger falls on EURO pairs have come amongst Risk on sentiment (Antipodean strength) and Euro weakness via recent ECB comments. Lacking strength but at key levels.
Any soft landing hopeful news sentiment may cause re-rallies in AUDJPY. Levels labelled for future long/short moves.
Monetary Policy / Hawk Cycle tentativeness is keeping strength in yen pairs. Coupled with risk on environments via data (could change), would not be surprised if we see higher.
Slight hawk tone out of BOE going into today. Comes alongside a potentially further easing/dovish SNB. Would hold off shorts until upper level area.
Understanding what drives oil is key to trading it. You can mix this with a tech approach for reliability.
Key USDCHF analysis pre SNB meeting. Looks like consensus sits @ a dovish 1%. Here's some key aspects to view.
Risk on generally favours NZD over CHF. Slower cycle from RBNZ may promote further rises. Levels noted.
AUD/CAD has rallied continually for a reason. Tracking this reason naturally gives you better entries.
GBP/CAD has rallied continually on the spectacular BOC easing cycle. Recent sentiment out of BOE suggests the opposite (temporarily). Would not be surprised if we continue to extreme highs. Levels on falls labelled.
Ideal exits exist nearer to early support / early MA's. Lack of negative sentiment (Risk Off) is stopping you from hitting higher MA's. Be wary, and do not ram in short. Similarly to no risk off sentiment, you could keep rising continually (and ultimately pullback). The problem for some is the pullback may be too late for their extortionate size.
Slow Momentum is growing on on Oil Markets on some middle east tension sentiment / Fed cut bets increasing. Ideal trajectory would be a continuation of such movement(s).
As we reach the last week of sept, we can cover future EURO moves on the current sentiment case. ECB looks like it's stalling, FED seeming more confident (with work to do to remove recession fears).
Weaker data in the red this AM is ragging weight on EUR pairs. Risk appetite favouring alternate risk currencies.