EURUSD 1.1851 |
USDJPY 111.52 |
GBPUSD 1.3772 |
AUDUSD 0.7485 |
USDCAD 1.2406 |
GBPJPY 153.59 |
EURJPY 132.15 |
AUDJPY 83.48 |
CADJPY 89.86 |
Silver 26.23 |
Friday's $2431 high in gold consisted of a 21% rise from the Feb 14th low. Such percentage extensions from key lows or/and technical levels such as the 200-DMA, could flag crucial opportunities for partial/full profit-taking. Watch here.
Bitcoin versus Miners Performance
As many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners...
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Thanks a lot, really.
I have to watch it very carefully..........By the way, CAD/USD is a very good indicator to exam that when the reversal will occur.
If the rate move to flat for 1 or 2 days, the reversal chance will be very high.........
Good luck for your trading!!
Best regards
Qin
If the Usd/CAD reached 1.18 then I guess Aud /usd will be in the low seventies 72-75. Ask Ashraf for a best hedge for you positions.
Dont worry Qin you be fine.
USD/CAD 1.18 .......if it goes to reach that level, I think my nerve will be destroyed, but my account.
I think I have to think about it very carefully......and find out some strategy to hedge it.
Did they mention about AUD/USD??
I was short Usd dollar since March but I closed all my position late May with big profit.
And I start to long USD because I read analysis report from Nick Bennenbroek a senior vice president and head of Currency Strategy for Wells Fargo Foreign Exchange in his report he mentioned that the USD/CAD will appreciate 10 percent over the summer, also at the same time Michael Woolfolk, senior currency strategist at Bank of New York Mellon wrote that the USD/CAD will be at 1.18 in September,
SAXO bank and deutsche bank AG the largest currency trader in the world both forecast USD to appreciate in value over the next 3 months.
I am thinking that to hedge my position by short EUR/USD now.
Do you still see EUR/USD will go to 1.35?? Need your advice....
Best regards
Qin
Ashraf
To be honest, I don't really have trading strategy. But I always read some news and comment from Chinese traders and Japanese traders....but different people are talking different stories. So I just have to analyst their story and wait for the chance.
The reason that I long AUD and CAD, short USD too early, but I still don't think I made wrong decision.
The reason is that central banks are willing to sell their USD. And Japanese traders and government don't want to see USD/JPY break 95. I think they will protect it, they said that 95 is the yellow alert for them, 94 is the red alert. Most of the export companies set their exchange rate to 95 by end of this year.
So if they sell yen, it will protect my positions too. Anyway.....I made trade to early.
May I ask why you see USD will rally more then 3 months? If it does, I guess AUD/USD will go to 0.7 and USD/CAD will back to 1.25.......
Clad you made some profit today, about me I had few small profitable trade today, Still holding into my long USD/Cad position (29K in the green).
I still think that the US dollar will rally farther against all of the majors in the next couple of weeks around until (sep-oct).
Qin do you think it is risky to trade without having a stop loss, specially if you are not hedged ? What is your trading strategy?
When do you think that USD rally will end?
I long GBP/YEN this morning and booked some profit from the pair. right now, I am not doing any trading. The BRIC meeting is finished, they said that they want to add their currencies into basket currency as you know. Maybe that is the reason USD is stopping its rally at this moment.
I don't know that when the USD rally will end, traders use stock market to buy and sell USD.......I don't know when it is going to over.
I am just waiting for some chance now. The currency market is not really moving now.......
How are u doing?? did you do any trade today?