Wednesday, February 29, 2012

Forex pairs to observe-2.28.2012

Forex pairs to observe

The retracements are over on most pairs and so there are plenty of opportunities across the board. With so many opportunities out there I decided to give a quick summary on the pair’s I’m looking to buy and sell instead of a detail set up of a couple pairs. The market favours the commodity dollars against the Jpy and USD. So ill be looking for long opportunities on Aud.Jpy, Cad.Jpy, Nzd.Jpy, Aud.Usd, Nzd.Usd and short on Usd.Cad. Furthermore, upon a closer inspection we observe that the European countries are gaining strength against the dollar and the yen and are slowly gaining momentum. Having that said, I’ll be looking to go long on Eur.Jpy, Chf.Jpy, Gbp.Jpy, Gbp.Usd, Eur.Usd and short on Usd.Chf. And last but not least the European countries against the commodity dollars are losing strength so ill be looking to go short on Eur.Aud, Eur.Cad and Eur.Nzd. Some of my favourite exotic currencies show that: AUD is gaining strength Vs the Cad and Chf, so long opportunities on Aud.Cad and Aud.Chf. I’ll be adding a chart from each category for a closer inspection.

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