Markets those days are quite boring – really light macro calendar this week – and there are not too many trading opportunities. Maybe today’s FOMC minutes and RBA meeting will change anything.
AUD/NZD:
Currency pair is approaching a key support, from where rebound may occur. Australian dollar to New Zealand dollar moves in quite odd uptrend with huge corrections and impulses breaking the previous high slightly. The target for long position is around previous maximum (+350pips) and SL is lower than 20pips which gives really good risk/reward ratio. From the other side, such position ought to be opened for a month or more, which may be unattractive for many traders (especially the daily ones).
GBP/USD:
Strong upward trend on Cable – after yesterday industrial data negative surprise, pair slipped slightly but then regained its upward momentum. However, there is still lack of bigger correction, which would give a opportunity to join the move. We have to be patient and wait for the nearest support test.
NZD/USD:
Kiwi extended the latest high slightly, but went back really fact. From the technical view it is really possible that in the nearest future currency pair will try to force the historical highs (2011).
