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 is now 102. The DXY briefly broke above this level and pulled back after this to support zone which is now 100.50-101.30. We are expecting reaction from here for the change in our strategy or for a confirmation of USD long trade.
EURUSD has reached again interesting selling zone. It has made an interesting triangle below broken and retested 1.0820 level and is testing downside Pitchfork channel line. Important notice—- we will wait for a daily close below 1.0500 level or a bearish price action in the 1.07000-1.07500 zone this week.
GBP/JPY is squeezed for a directional move and it is making good RR technical pattern after four weeks of consolidation. The important level of support/resistance is 138.530. Important notice—- Watching the price action for both long/short trades. We could possibly try first with the long trade.
CAD/JPY is still in the interesting pattern, retesting broken multi-year falling trend line. We will look for the long entry despite CAD overall weakness because of the JPY low-yielding environment. Important notice—- looking for the long entry on an intraday price action for medium-term trade.
USD/CAD is getting back in our focus again pulling back to support 1.3200-1.3250 zone. We will monitor the pair for long entries. Important notice—- Looking for the medium term long entry in this zone on the bullish price action.
NZD/USD we took the profit on our short trade. We will now look for a new position if we get a pullback to 0.7000 area for the downside continuation. The pair is bouncing again from a 100 SMA weekly 0.6856 and we will look for a bearish price action from a downside support zone 0.7000-0.7050. Important notice—- Looking for short entries on intraday price action if indicated zone is reached or on intraday price action because the downside momentum is strong.
GOLD has bounced from the 1190 median line and is pulling back to selling area 1230-1250. Important notice—- Looking for the short entry on the bearish price action in this area.
NIKKEI is still in the buying zone. We will look for long trades on JPY pairs as well as earlier mentioned. Important notice—- looking for long entries on the start of the next week at the market with SL just below 191.50.
To improve is to change; to be perfect is to change often. Winston Churchill
—-Carefully building USD long position ahead of the FED interest rate decision and watching the volatility—-