250 ++ Pips Trading Forex Using Our Tables
Thurs 18th May 2023 : Daily Currency Strength Analysis
Today we’re looking at Trading Setups in:
- EURNZD (Primary Focus Pair)
- AUDUSD (Covered In Video)
- EURUSD (Covered In Video)
- CADJPY (Covered In Video)
- AUDCAD (Covered In Video)
Primary Focus Pair: Overview
EURNZD
If you’ve been following our previous analysis across AUDUSD, EURUSD and CADJPY, you would be running in 250 + pips profit as of writing this post.
That is a huge gain for very little effort!
All we’ve done is follow our live forex strength Vs weakness tables and identify some key support and resistance levels.
EURNZD has re-appeared on the tables after a brief spell away.
This currency pair first appeared for selling ideas around 5th May.
Since then price has declined from highs of 1.7950 down to 1.7275.
Currently price is finding support at this level again after rebounding from the level into 1.7500 resistance.
This leaves trades with two options.
- Is to wait for price to trade back to resistance of 1.7500 and look for signs of selling.
- If price trades through support of 1.7275, sellers could wait for a retest short opportunity to support 1.7000.
Either way, on EURNZD we are required to wait for some confirmation now before seeking a trading opportunity.
Technical Observations:
- EUR is W3 and NZD is S3.
- Price is trading at support at 1.7275.
- If price breaks down through support it could offer traders a short opportunity to 1.7000.
- If price rallies back to resistance at 1.7500 and still features on the tables, sellers could short here.
Todays 9am (BST) Forex Strength Vs Weakness Tables:
