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.
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.
NZD/USD we are watching for downside continuation from this zone. 100 SMA (red line) 0.7416 is important level and next close below 0.7140 would give us a sell signal, and it would be the additional trade to our existing short. Important notice—- Looking for entries on intraday price action.
USD/CAD the pair is extremely volatile recently. It is entering the buying zone and we will watch price action in the marked zone 1.3080-1.3150. We are long from the mentioned zone and we will look to add on the break above 1.3400 because there is a range formed between 1.3100-1.3600. Important notice—- Looking for long at intraday price action because of possible invalidation on a close below 1.3040.
GBP/NZD we have missed the short entry on triangle break. Looking next days and weeks for a retracement to 50% on the back of NZD weakness for a short entry there 1.7330 level. Important notice—- Looking for the retracement and triangle retest.
USD/SEK is positively correlated with EUR/USD and may be a better choice for USD continuation here. Testing strong long-term support and broken multi-month upside resistance. Important notice—- Looking for long entries on a daily close above 9.000.
Our candidate from Indexes upside continuation is now DAX. Still looking for perfect long entry and we will wait for a clear the break of 11620. Important notice—- Look for first close above 11610 for long with SL below 11490.
We will be back in commodities trading with Oil. Another failure at 53-53.500 gives us a clue about possible leg down. Important notice—- Look for shorts on Monday or Tuesday with SL just shy above 53.
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—-