StopHunter
2022-08-16

Currency pairs worth picking off in the shorter term?

Looks like the US Dollar is strengthening again in the shorter term. Which other currencies are weak that you could combine for some potential trade ideas? Looking at the currency strength chart attached - GBP and EUR looking the weakest. So id be looking to sell (BEARISH) when the technical anlalys lined up:

$Euro FX - main 2203(EURmain)$
$British Pound - main 2203(GBPmain)$

EURUSD:
Targets & Risk Management (See also Renko chart attached)....
Bearish Downsides: T1 1.0034 T2 0.998 T3: 0.993
Stops: Bearish 1.017

GBPUSD:
Targets & Risk Management (See also Renko chart attached)....
Bearish Downsides: T1 1.1979 T2 1.190 T3: 1.853
Stops: Bearish 1.2125

Conclusion: GBP looks the better quick shorter term downside idea. EUR may take a little more time to move down.

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Best of luck with the trading,

Regards

Stephen

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  • BellaFaraday
    ·2022-08-18
    How many basis points will Powell raise rates in September?
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    • StopHunter: 
      Good question BellaFaraday - if inflation keeps rolling up in the US (in the UK we are now over 10) could see it up another 0.5 to 3, but 0.25 at a minimum. A lot can change before now and then!
      2022-08-18
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  • ElvisMarner
    ·2022-08-18
    I don't think sterling will depreciate any time soon.
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  • Maria_yy
    ·2022-08-18
    I didn't expect you to follow the foreign exchange market.
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    • StopHunter: 
      Yep trade a lot of FX - run auto trading on them mostly: Favourite pairs: USDJPY, GBPUSD, EURJPY, CADJPY, AUDUSD. USDZAR, USDNOK!
      2022-08-18
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  • MortimerDodd
    ·2022-08-18
    Do you think the dollar index can go up to 110?
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    • StopHunter: 
      I would never say never!
      2022-08-18
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  • EvanHolt
    ·2022-08-18
    The euro has certainly been weak lately.
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  • MeHu
    ·2022-08-16
    [Smile]
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  • StockRookie
    ·2022-08-16
    👍🙏
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  • Shank88
    ·2022-08-16
    ok nice
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  • Ahyie
    ·2022-08-16
    Ok
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  • miaoyin88
    ·2022-08-16
    ok
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  • Sginvest
    ·2022-08-16
    Cool
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