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 the recent battle with important 100 daily SMA 99.60 level. Only on a clear daily break below this level we will rethink our strategy and change the direction of the trades. So far this level has been defended through the whole week. We are in at the “edge” trades, and we will reverse if next week we see a significant clear of this level. The fact that we have six down weeks with no pullback makes USD long trade even more attractive, but the market will give the final word.
EURUSD has rejected again from a long term familiar zone 1.0750-1.0800 and is on the brink of the wedge break. 1.0850 is staying a key level for the extended downside or a choppy upside. Important notice—- Looking for new short entries on intraday price action on the daily close below 1.0600.
GBP/USD is back in the focus again as the pair is again below 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.
On USD/JPY we need a monthly time frame perspective. It is holding above 34 SMA 111.950 level. The daily break above the 114.100 Monthly open is required for the retest of 116-117 zone. Important notice—- Still looking for the long entry on intraday price action. Short only on a break below 112.
AUD/USD behavior recently has left the pair in the downside sideways range above 0.7500 but still below the important confluence of downside support below 0.7720 leaving it open for short trades, at least fro a pull back to key 0.7450-0.7500 support zone. Important notice—- Looking for the short term short entries for now with the small risk.
NZD/USD is in the similar situation as AUD/USD. The Strong weekly confluence of downside support. From risk to reward perspective going long here with 200 SMA 0.7549 above is not so appealing. Important notice—- Looking for short entries for now at least for a pullback to 0.7100 level. Long only on a clear daily break above 0.7340 which we don’t have so far.
USD/CAD is showing all the complexity of the USD positioning at the moment. It has closed below the 100 SMA 1.3096 but is still holding above the long-term Pitchfork uptrend channel 1.2960 level, leaving the door for the upside reversal.Important notice—- Looking for long entries for now and to reverse to short on a daily break below 1.2960.
We missed the perfect long entry on Nikkei and it has broken above 192 level, but now we have a tricky pullback to 188 support. Important notice—- Enter long on Sunday/Monday open with SL just below 188.
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—-