Taking a long position on GBPAUD, main reasons being:
- BoE holding interest rates for now and less rate cuts are expected next year, could drive more institutions to hold GBP and increase it's value
- AUD are trade partners with China who are experiencing significant economic instability
- COT traders are 57% long on GBP (+2.14% compared to last week)
- COT...
Potential short idea on AUDJPY
Reasons for (potential) entry:
- COT traders are buying JPY and selling AUD fairly aggressively
- AUD cutting interest rates, JPY hiking interest rates
- AUD could be under pressure due to reliance on China, who are facing economic uncertainty
In the past, when COT traders have bought JPY as aggressively as this there's been a...
Currently short on EU
Reasons:
- Downwards trend
- COT traders overwhelmingly bearish on EUR
- Political instability in Europe
- Bad economic news in Europe
- ECB president "highlighted that euro area economic growth is expected to weaken in the coming months"
- US expected to also cut rates, but looks a lot stronger economically compared to most of the world right now
It has broken a previous resistance trend line and could possibly make it a support
Let me know your thoughts, I’m only a beginner trader so don’t take my ideas for Gospel but I’d love to hear what you have to think about this idea.
I’ll need to look at fundamentals before I would decide to take this trade, but it there is a breakout of the trend line then it could be a possible indication to take the trade
I am a new trader so all criticism that you have would be greatly appreciated. I’m still trying to learn so let me know how I can improve!
Descending triangle forming on GBPZAR. A long position could be possible if there is a breakout.
I’m a new trader and all criticism is welcome. If you disagree with this idea please say so I’m just trying to improve
