'GBPJPY and USDJPY the best Yen pairs to trade' - Nenad Kerkez, Admiral Markets
|
PROFILE
• Current Job: Analyst and Full Time Trader at Admiral Markets
• Career: Holds a MSc Degree in Economics at the John Naisbitt University (formerly known as Megatrend). Works as Senior lecturer and market analyst for Admiral Markets
Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Head Lecturer and Market Analyst. He is well known in the FX Community, ranking in the top 10 traders and analysts in the Forex Factory High Impact Members Ranking.
Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.
The Trump headlines keep coming every day and it seems it will be like this for a while. How should traders adjust to this huge uncertainty?
The best advice is – keep it low risk. Don’t use high leveraged trade, keep the risk under control. My SL is dynamic but my risk is fixed (0.5- 2 % per trade max). As long as you keep the total risk under 5 % you should be fine. Proper money management is the Holy Grail of trading.
What's your mid-term outlook on the GBPUSD? Do you think it can revisit 1.20 when Article 50 is triggered?
Yes, at this point the GBP is a bit supported above 1.22. I think we need to see an official trigger for Article 50 and a weekly close below 1.2200. That could be a signal for 1.20.
You said the 'JPY crosses' would be the best to trade in 2017 and they certainly are not lacking volatility. Which JPY cross do you think is the best to trade right now?
Exactly! The dragon is absolutely my favorite (GBP/JPY). Huge ATR has been the advantage of this pair compared to NZD/JPY which has a low ate and general lack of direction so I don’t trade it. Besides GBP/JPY which is the best JPY cross for me, traders should pay attention to USD/JPY is the second best. AUD/JPY and EUR/JPY are also good to trade but at this point not as GBP and USD vs JPY.
For how long can US stocks keep making all-time highs before taking a hard fall?
Stocks are not the same as Forex market. The laws in Forex market don’t appeal to Stock markets. We all know what’s behind the stock. It is the company J. If company is run well, there is no reason to drop. IMO, U.S stocks are definitely overvalued now. If companies are not making money, and investors are spending lots of money to buy stocks, then the market is usually overvalued. First Id pay attention to companies such as Microsoft and IBM. Those are blue chip companies. RE Equities, SP500 might turn around 2342.
Oil prices seem to be stuck in a tight range since the start of the year. With the OPEC cut being respected but US Oil production shale potentially going up, where do you think the Crude prices are heading?
To me it looks like the Crude oil is heading towards 54.50. I think the bullish trend will continue. WTI needs to see a clear close above 53.80 to negate two fakeouts that happened in the near past. Clear close above 53.80 targets 54.50 and 56.60 respectively. Only a break below 50.0 will be bearish for WTI aiming for 47.80.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.