Likely interesting to trade
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This week, price fuctuated to downward for about 200 PIPs. The expected turnaround time to target 4-6 weeks.
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Trading position is managed to risk free by placing stop loss at entry rate, and the trade will be hold to target and/or to be closed by "tranche" as considered to be feasible.
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I still target 1.0750 and may extended to 1.0500 with multiple short trade tranches.
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Short trade still active to target
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CHF and JPY carry traders are carrying the EUR to drive the EURJPY and EURCHF to upward by their interest rate differential. Their carry trading activity has resulted the EURUSD to be slower to downward from the upper ceiling to lower ceiling. Less likely the current upper ceiling 1.1800 will be reached before the EURUSD to resume to downward.
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The AUDUSD and NZDUSD hammered down by their interest rate differentials to USD. It is expected to be followed by the GBPUSD and EURUSD to downward by their interest rate differentials to USD, and USDCAD, USDJPY and USDCHF to upward by their interestt rate differentials to USD.
At such, the current short/sell of NDUSD, AUDUSD, GBPUSD, EURUSD and the long/buy on the USDCAD, USDJPY and USDCHF will resume to follow their medium term exchange rate target zone trends.
However, risk remains to be seen from JPY and CHF carry traders but at lesser impacts on the prices.
At such, the current short/sell of NDUSD, AUDUSD, GBPUSD, EURUSD and the long/buy on the USDCAD, USDJPY and USDCHF will resume to follow their medium term exchange rate target zone trends.
However, risk remains to be seen from JPY and CHF carry traders but at lesser impacts on the prices.