All eyes are on the US.
Early reports talk of a fiscal cliff deal between the
powers-that-be in Washington DC. While a
deal has been expected, the delay has caused this issue to dominate traders’
sentiment during the last couple of weeks of 2012.
A deal is a deal, regardless of what it contains – the US
economy will continue to move and the US government will continue to function.
Sooo, here’s what I am looking at this week.
BUY AUD/USD – will continue the uptick that started last
week. No major economic number coming out this week for the AUD but US Non-Farm
Payrolls are due on Thursday so I am looking to make a trade on Wednesday and
take it out before the NFP numbers come out.
On the technical side, RSI, MACD and Slow Stochs all show the pair
primed for a spring-up. The pair has
also bounced off the lower band limit of the Bollinger Bands.
BUY NZD/USD – a bounce started in the last trading day of
last year. No ground-shattering NZD numbers
coming out this week but US NFP is coming out on Thursday. Will be looking to trade this once market
opens on Wednesday and take it out before NFP’s trademark chaos. Technically, the pair is not oversold but
this pair has not breached the oversold level since May of last year. Slow Stochs, Bollinger Bands and MACD all
show a bounce and support at the 0.8159 level.
Staying out of any pair that’s got Euro and Cable.
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