Every week our non-edited trading desk strategy remarks in deep analysis and medium term trading strategy.
TRADING DESK STRATEGY REMARKS AND MEDIUM TERM TRADING PLAN NON-EDITED
-For——- Trading desk
Main trading strategy focus still on $DXY
As noted in our last week strategy we didn’t shift strategy from long USD and this week gave us confirmation of a bounce from 99.70 daily 100 SMA and we have initiated USD long trades again selectively among the USD pairs on the market. Important upside resistances to be overcome for our USD trades to pick up, and to give us more confidence are 100.70 and 101.70. 101.70 level rejected DXY but we do expect another attack on it this week. Invalidation only on a daily close below 100.
EURUSD has broken the ascending wedge and has broken briefly below 1.0600. Expecting a continuation from here targeting 1.04600. Important notice—- Looking for new short entries on intraday price action. This will be our second short entry and it will have SL above 1.0720. We will consider moving SL on existing short trade to entry level 1.0713 and lock the trade.
GBP/USD is back in the focus again as the pair is persistently staying below downside Pitchfork channel Median line 1.2660. Triangle is formed and a break below 1.2400 level for the downside continuation. Important notice—- Looking for short term entries on intraday price action.
AUD/JPY is supported here and the long trade could have nice risk reward on this broken triangle retest 86-86.300. Important notice—- looking for the long entry on intraday price action.
EUR/GBP could give us the opportunity for long or short. The short trade could be on this rejection from 0.8580 falling trend line or a long trade in the case of a break above this level Important notice—- Looking for the long/short term short entries for now with the small risk.
USD/NOK is bouncing from the support uptrend line 8.2800. This is a good level for possible long trade with SL just below support. Important notice—- Looking for long entries on intraday price action for a pullback to 8.5000 level at least
AUD/CAD is supported from an uptrend line. Break below this line could lead to 200 pips fall. Bounce from this level could open a continuation to the upside. Important notice—- Looking for long or short entries on the intraday price action.
DAX could be in the continuation with almost 200 point profit space. Important notice—- looking for long entries on the Friday candle with SL just below 11650 level for the profit target of 12070.
To improve is to change; to be perfect is to change often. Winston Churchill
—-Building USD long positions and watching the opportunities to exploit Indexes strength EUR weakness—-