Hello all - DuncanForex with another trade idea.
With NFP coming in strong on Friday and USD gaining strength - the question is:
Is this short term sentiment and will the FED support further USD strength or will the FED still suggest a rate cut and in turn will USD weaken,?
Therefore, the recent price action being a stop loss hunt before heading higher quite quickly
I have not been able to publish all my trade ideas this week - however I am currently long gold at 1393 and I expect USD weakness to now continue on other pairs.
I am looking to go long GBPUSD after reviewing my support levels - where I previously think I got in too high on the recent down move.
\I am looking for a break of the trend line and a retest prior to it heading higher
This trade may end up going through FED news tomorrow and I will review prior to the news coming out if I have open trades.
Thanks for looking
Duncan