Commodity Currencies at Major Levels

Take a look at the AUD/USD, NZD/USD, USD/CAD and USD/NOK. These are big daily charts and major confluences  of levels. We are about ready to a brick wall and reverse or break out hard core.

Get ready…my assumption is that it comes down to NZD and AUD employment, CNY CPI and the BOJ rate decision tonight.

If you are bullish equities, risk and commodity currencies you want to see some stronger than expected jobs numbers, weaker China inflation (so China can stimulate more) and an “easier” Bank of Japan (more intervention or asset purchases). If you are a bear? Well, you want the opposite.

This entry was posted in Uncategorized by Blake Morrow. Bookmark the permalink.

About Blake Morrow

Blake Morrow is the Chief Currency Strategist for Wizetrade. Blake has over 15 years of trading experience and has been a co- owner of a Dallas based brokerage firm and LiquidTrader Technologies. Currently, Blake does analysis daily for thousands on individual traders, also has appeared as a regular analyst on WizetradeTV, Traders Television and MBT Vision. Blake has also managed 6 figure trading accounts and is a seasoned individual investor in equities and FOREX.