End Of Month
Volatility = Risk
Fri 30th June 2023 : Daily Currency Strength Analysis
Today we’re looking at Trading Setups in:
- NZDCAD (Primary Focus Pair)
- AUDCAD (Covered In Video)
- AUDCHF (Covered In Video)
Primary Focus Pair: Trade Plan & Details
| No Trade | Price | Pips +/- | R/R (Max/Min) |
|---|---|---|---|
| Entry Price | |||
| Stop Loss (Min) | |||
| Stop Loss (Max) | |||
| Profit 1 | |||
| Profit 2 |
Details:
We have reached the end of month/quarter and markets could turn volatile, which could see risk return.
JPY has completely removed itself from our live forex strength vs weakness day traders table for the first time since 7th June.
This could be a sign of risk returning to the market, although it still remains top of the trend traders table.
With that in mind, the tables are showing NZD as the weakest currency on the lower time frames, and CAD as the second strongest.
This could see NZDCAD trade lower.
NZDCAD could be on its way to 0.7700 lows which formed back in October 2022.
This low is currently over 300+ pips away from current prices.
On our H4 trading chart, we can see price is making lower lows and lower highs, and is rejecting trend line resistance.
If price breaks lower here it could be a trading option for us going into next week.
Technical Observations:
- NZD is W1 and CAD is S2 on our day traders tables.
- Price is working within a bearish channel.
- H4 chart shows price making lower lows and lower highs.
- If price continues lower it could reach October 2022 lows.
Todays 9am (BST) Forex Strength Vs Weakness Tables:
