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 100-100.500 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. The USD bounced from just below 100 and is now testing 100.700 resistance. We are closely watching price action here and especially 101.200-101.700 zone for a flag upside break and uptrend continuation.
EURUSD has rejected from a long term familiar zone 1.0750-1.0800. We are looking now for a decisive break below 1.05600 downside resistance for possible new additional short entries. Important notice—- Looking for entries on intraday price action on the daily close below 1.0560.
GBP/USD is back in the focus again as the pair is testing downside Pitchfork channel Median line 1.2660. We are watching for downside continuation from this zone and especially in the case of the daily break below 1.2450 level. Important notice—- Looking for short term entries on intraday price action.
USD/JPY is very close to upside continuation and a double bottom confirmation. The daily break above 115.360 is required for the clear confirmation. Important notice—- Looking for the long entry on intraday price action.
AUD/CAD is lining up for both possible long/short entries. As we had a wild ride in USD/CAD the AUD/CAD is now back in positive correlation with it. Important notice—- Looking for the long entries for now with the small risk and for possible short entries if the 0.9859 level gives up.
EUR/NOK with the ongoing possible weakness in EUR, this pair has made a technical break below medium term triangle line 8.9300 level. There is a lot of space for profit from short entry here if we get a break confirmation. Important notice—- Looking for short entries on intraday price action.
We missed the perfect long entry on Nikkei and it has broken above 192 level. We will try to find another good long entry because there is some space on the upside before correction lower. Important notice—- Look for longs on intraday price action or entries in YEN pairs.
With the Gold already breaking below 1190 level it seems that Silver has to catch up with the downside. Here it looks more attractive for shorts for us. Important notice—- Look for shorts on Monday or Tuesday with SL just shy above 17.50 or on another rejection from 17.30.
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—-