DailyFX Tips & Picks: Analyst’s pick


My pick: Long Aussie-dollar, short Kiwi-dollar, short sterling-Aussie
Expertise: Fundamental and technical analysis with risk management
Average time frame of trades: One day to one week

Market conditions are the number one concern moving through this week. The US Independence Day market holiday has a history of draining liquidity and anchoring markets globally. Trade approach is important under these circumstances. Should the weak dollar theme continue, I like Australian dollar-dollar breaking its range above $0.9450. If the dollar rebounds to balance, a New Zealand dollar-dollar channel reversal will look good below $0.8700. Finally, sterling-Australian dollar isn’t dollar bound and would move a bigger range below Au$1.8000.