This week sees the GBP outperforming and scoring as the best long play in the scorecards. Our second favourite long this week is the CAD, which is benefiting from the recent rally in Crude Oil prices. Whilst the CAD and CHF both score the same, we would preference CAD over CHF since the CHF has weakened from 3 to 2 on the scorecards increasing the risk of further weakness this week.
To the short side both the NZD and JPY score as the best shorts alongside the EUR.
With this said, GbpNzd, GbpJpy and CadJpy long, as well as NzdCad short, score as the best pairs and set ups this week.
We have given an extended analysis of XauUsd in this weeks video since all indications are that XauUsd is at a crucial point, with the correction since August 2020 looking like it is finally set to end. If this is the case, big moves will be coming in XauUsd over the next few weeks.
CFDs & FX are leveraged products that incur a high level of risk and can result in the loss of all your capital and may therefore not be suitable for all investors. You should not risk more than you are prepared to lose and before deciding to trade, please ensure you understand the risks involved, take the level of your experience into consideration and seek independent advice if necessary. By using information here, or elsewhere, provided by Get Me Trading, all persons agree not to hold Get Me Trading, or any agents of Get Me Trading, liable for their own trading performance or the performance of others.
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.