Every week our non-edited trading desk strategy remarks in deep analysis and medium term trading strategy. Unique! You will see how we prepare our trading strategy.
TRADING DESK STRATEGY REMARKS AND MEDIUM TERM TRADING PLAN NON-EDITED
-For——- Trading desk
Main trading strategy focus still on $DXY
Positions in the USD are being built and we are not changing strategy despite possible pullbacks to 100.500-101.500 zone. We are targeting 105 on the upside continuation. The 100.500-101.500 is strong upside support zone and important for the continuation higher. This is the zone where long term and short term traders collide. Wedge is formed and there are signs of turn here. Next week will be important.As said USD has bounced from 100.500 and it hasn’t made new lows but we need to see a break above 102 for continuation confirmation.
EURUSD we will continue to build shorts on any rallies to 1.0600-1.06500 zone. We are targeting 1.00907. We need to see a break below 1.0350 for downside extension and confirmation of downtrend continuation. Short term, first close below 1.05000 would give us a confirmation of a turn to the lower end of 1.04000-1.06800 range. Important notice—- Looking for entries on intraday price action on rallies to 1.0730-1.0750 zone or on a break below 1.0570.
NZD/USD we are watching for downside continuation from this zone. 100 SMA (red line) 0.7146 is important level and next close below 0.7140 would give us another sell signal, and a confirmation that pullback is over. Important notice—- Looking for entries on intraday price action.
USD/NOK is reaching extreme buying zone and if we get momentum from USD turn upside we will jump in longs 8.3800-8.3900 zone. Important notice—- Looking for long at intraday price action.
USD/JPY is lining up for long so far but we need to wait for a break above 116 for good long entries or on any bullish reaction from possible pullback of the latest swing up 113.500-114 zone if reached. Important notice—- Looking for the long entries for now.
USD/SEK is positively correlated with EUR/USD and may be a better choice for USD continuation here. Now is testing strong long-term support and broken multi-month upside resistance. Important notice—- Looking for long entries on a daily close above 9.000 or on a reaction from 8.8500-8.8700 zone
Our candidate from Indexes upside continuation is again Nikkei after the pullback to support 188-188.900 zone and bounce. Important notice—- Look for longs at the start of the week or on a possible swing up pullback if it happens.
Gold inability to break above 1215 makes it attractive for short entries to target 1168. Important notice—- Look for shorts on Monday or Tuesday with SL just shy above 1220.
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—-