Weekly Trade Preview: Forward We March by Dane Williams

EUR/USD Daily:

– Strong daily down trend.
– Got our Greece/Eurozone can kick resolution. Tiny rally then the USD story took over and was sold hard.
– At support but looking for another step down. USD story means it’s still a sell.

GBP/USD Daily:

– That’s your daily down trend broken!
– BoE and the Fed both talking about raising rates so that’s the fundamental differential in this pair.
– Not convinced by the BoE. Happy to play this from either direction now but technicals saying buy.

AUD/USD Daily:

– Strong daily down trend.
– USD large and in charge. Add in the RBA expected to cut rates again, we’re looking at another step down.
– Old mate Terry McCrann saying that the RBA will hold rates in March but who knows with that clown.
– Depending on what you see as priced in, in terms of rate cuts will determine your play. Go with the flow and just sell it. Done with this contrarian bottom picking rubbish.

USD/JPY Daily:

– Consolidation after strong up trend.
– Breaking out of triangle consolidation after retesting previous resistance as support.
– BoJ not going to stop printing copious amounts of money and the USD continuing to rally on the back of the Fed trying to start a new rate raising cycle.
Buy the breakout and play for a hold above the 120.00 level.

Dane Williams – @danewilliamsau

 

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