Trade results: USD/PLN, USD/HUF, USD/BRL

Brian Twomey Brian's Investment

Trades and results as posted listed below for USD/PLN, USD/BRL and USD/HUF. I encourage all traders to incorporate PLN within their overall currency trade plan as PLN is not only a terrific pair but it moves really well. HUF and Ron run a close second as next choices.

USD/PLN

Short 4.2564 to target 4.0730

Highs 4.2509 Lows 4.1646

Trade Runs +863 pips

Long way to target

USD/HUF

Short 339.84 and 342.12 to target 319.68

Highs 339.02, Lows 331.04

Trade Runs +798 pips

Long way to target

USD/BRL

Short 5.3658 and 5.3903 to target 4.9501.

Highs 5.3544, Lows 5.2248

Trade Runs +1296 Pips.

Long way to target

Assistance to this trade was USD/BRL gapped down 500 pips

3 trades runs +2957 pips. Add 4 NZD trades at 553 pips then total for 7 trades factors as +3510 pips.

Author

Brian Twomey

Brian's Investment

Brian Twomey is an independent trader and a prolific writer on trading, having authored over sixty articles in Technical Analysis of Stocks & Commodities and Investopedia.

EUR/USD trims gains, hovers around 1.1900 post-US data

EUR/USD trades slightly on the back foot around the 1.1900 region in a context dominated by the resurgence of some buying interest around the US Dollar on turnaround Tuesday. Looking at the US docket, Retail Sales disappointed expectations in December, while the ADP 4-Week Average came in at 6.5K.

GBP/USD comes under pressure near 1.3680

The better tone in the Greenback hurts the risk-linked complex on Tuesday, prompting GBP/USD to set aside two consecutive days of gains and trade slightly on the defensive below the 1.3700 mark. Investors, in the meantime, keep their attention on key UK data due later in the week.

Gold loses some traction, still above $5,000

Gold faces some selling pressure on Tuesday, surrendering part of its recent two-day advance although managing to keep the trade above the $5,000 mark per troy ounce. The daily pullback in the precious metal comes in response to the modest rebound in the US Dollar, while declining US Treasury yields across the curve seem to limit the downside.

Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals

Bitcoin Cash trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing bearish sentiment and raise the risk of a dead-cat bounce toward lower support levels.

Dollar drops and stocks rally: The week of reckoning for US economic data

Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.

Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals

Bitcoin Cash (BCH) trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing bearish sentiment and raise the risk of a dead-cat bounce toward lower support levels.