It might be December but there are FX opportunities galore! USDJPY, AUDUSD & USDZAR
Eddie Tofpik, Head of FX at ADMISI, talks to Core presenter Matt Brown about three currency pairs that, from a technical perspective show great opportunity.
With December a typically quiet month for volumes, certain pairs are alive and well. Tofpik talks through the following pairs :
USDJPY – the pair is still stuck in a range but with a Head and Shoulder pattern forming a second shoulder. This could be an opportunity to short the pair into the holiday season
AUDUSD – The movement down within the channel line and reached the target for the double top. Breaking through the upside of the channel, breaks above and below can be false however. Watch where AUSUSD closes on the 8th December.
ZARUSD – Bouncing of the medium moving average and a key fib level. Now hitting support the currency though could be forming a head and shoulders. Bounces to the upside could be short lived.