Trading Forex and CFDs is risky

AUDNZD & GBPJPY both hit Target 1

Market Analysis

AUDNZD, Daily             

On Monday I looked ahead for a falling AUDNZD rate as news data and momentum continued to weigh on the pair. I wrote “A clear, breach and break of 1.0450 level on the Daily time frame will generate a SELL position with Target 1 1.0340 and Target 2 at 1.0173”.

In a highly volatile week my entry at 1.0450 was triggered on Tuesday (July 5th) and Target 1 at 1.0340 was reached this morning (July 8th). The Kiwi has had a strong week and continues today, Target 2 at 1.0173 remains the next level.

The GBPJPY post from Tuesday suggested that at 133.00 the pair could easily fall to 131.50 which it duly did in the following hours. As pressure on sterling continues and the flight to quality and safe havens rolls on Target 2 at 128.5 and 125.60 are still in play. As I stated on Tuesday “as we move lower these targets become more difficult to achieve, however, momentum is to the downside and although technically oversold, never underestimate the power of fear and greed”. 


Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! The next webinar will start in:

Stuart Cowell

Market Analyst


Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.