From my point of view there are a number of opportunities that are beginning to appear but with so much volatility, I am holding back a little. The real issue I am worried about is the Easter break. Several Western markets will be closed on Good Friday and a lot of traders are out for the Monday after Easter weekend. Considering the volatility this week, that may make for some very weird price action in the next day or two as traders prepare to be out that will make it tough to take longer positions.
However, in preparation of some trading opportunities I am looking for a potential break to the downside on the AUD/USD below the 23.6% retracement level that could take prices all the way to the lows of December and January. I will show a similar setup potentially appearing on the GBP/USD. finally, we are getting some contrary movement between longer term bond yields and the USD/CHF. That may be creating a nice environment for additional downside moves on the USD/CHF. I would wait for a bounce down from resistance at 1.0200 before getting to serious about that one but it could be another short term opportunity.
2 comments:
forex like our life..sometimes is going up and sometimes is going down, also sometimes just follow the way
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