James Kim@Saxo
In this webcast, Saxo's global sales trader James Kim runs through the events of the week ahead and give his thoughts on the positioning of S&P, Hang Seng, US Dollar Index, EURUSD, USDCHF, NZDUSD, AUDUSD, USDJPY, XAUUSD.
Medium term
Trade view / 18 January 2018 at 7:55 GMT

Short trade taken in NZDUSD

Analyst / PIA First
United Kingdom
Instrument: NZDUSD
Price target: 0.7000
Market price: 0.7297

USD Index – Yesterday's price action posted a bullish outside day on the daily chart. This often indicates a change of trend. The weekly chart, and we are holding on to the trend of lower lows. The bias turns positive with buying dips the best option today. 
Source: Saxo Bank

Taken a long-term short in NZDUSD and here is why:

Monthly: In a large expanding wedge formation that has an eventual bias to break to the downside. We are holding levels close to 0.7300. This has been a congestion zone since 2004-2005 
 Source: Saxo Bank

Weekly: We have a possible bearish Head and Shoulders pattern. The most important factor here is long-term bespoke resistance at 0.7297. Support at 0.6984
 Source: Saxo Bank

Daily: Doji style candle posted for yesterday’s price action

Intraday (two hour) – Evening Doji Star posted from the high, often dictates a top. Possibly forming a bearish Head and Shoulders. Those more conservative among us can wait confirmation on a break of 0.7250, neckline. 
 Source: Saxo Bank

Management and risk description


Entry: short at 0.7297

Stop: hard stop at 0.7400 

Target: 0.7000 and 0.6000

Time horizon: long-term

— Edited by Clare MacCarthy

Non-independent investment research disclaimer applies. Read more
A compiled overview of Trade Views provided on is found here
FadelSalem FadelSalem
Good call Sir, Patient one will gain a lot :)
Chris O'Connell Chris O'Connell
Hi Ian any update on this trade?
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
I am still short. Holding for a long-term selloff. Only a monthly close above .7297 would force me out
Chris O'Connell Chris O'Connell
thanks Ian
themis themis
Gd morning Ian
Do you think worths shorting this pair at current levels for 2-3 months period pls?
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
Morning. 0.7408 id a big level. I need to see a monthly close below 0.7300 to keep me on the bearish side
themis themis
thank you Ian


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