Daily Alert – Wednesday 6th May 2020: Currencies less choppy, trading opportunities arise

Mark NugentDaily Alert, May 2020

Daily Alert – Wednesday 6th May 2020: Currencies less choppy, trading opportunities arise

The choppiness we have seen in currencies over the last few weeks seems to have been replaced with much more consistent movement, particularly in USD, EUR, JPY and CAD. Obviously, this makes these currencies very much more tradable than they have been for a month or so.

Oil is rallying but I will be treating this as better pricing for a short due to the fundamentals, in other words, “sell the rally”.

GOLD clings to resistance.

Right now, I think currencies are offering the lowest risk opportunities.

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