Important levels flagged below.
USDCNH has broken above the 6.72 levels. We have always maintained that for dollar to rise, USDCNH will need to move into a uptrend. It is the Chinese, known as the whale among the traders, who have consistently blocked out dolla
GOLD has broken below 9ma of 4h. We watch for significant move either ways.If prices go above 1327, it can swiftly move higher. But if we get 3 closes below the 1320 level on 4hour frame, we could finally see prices fall sharply to 1290.
USDCHF has retraced. 50% of fomc move has been unwound. If you are a dollar bear, this is where you get off dollar sell position and go long. The USDCHF is an important pair which predicts dollar eventual moves beyond the noises.
Markets are awaiting NFP data. The risk is to the upside in the numbers and hence a surprise will rally the dollar.
fxcot trading system as usual will be trading automatically. It has closed its January returns.
It has been highly profitable system and continues to be so. It is made for these kind of markets. It uses both Scalping and Breakout and volatility together.
If you want to start, contact us