Some Possible Forex Ideas
|GBP/NOK
This forex cross continues to display a possible 28-month ascending triangle. I really like this pattern – but I do not like the volatility that Brexit is likely to create with any trade involving the British Pound. I am willing to go with an upside breakout of this pattern, but sized small (perhaps as small as 20,000 GPB/NOK per $200k of trading capital).
This cross is forming a possible rounding or complex H&S top. I am watching this cross carefully for a trading opportunity. This cross should be immune from the craziness of Brexit.
USD/JPY
I am displaying a chart of USD/JPY as a reference point for JPY because of my interest in CHF/JPY. If there is a pattern, I like less than a prolonged symmetrical triangle on a daily chart it is a prolonged symmetrical triangle on a weekly or monthly graph. Nevertheless, USD/JPY is coiling. Factor is flat – I have no trading interest in the Yen.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.