Trading desk strategy remarks non edited 2/10/2017

Every week our non-edited trading desk strategy remarks in deep analysis and medium term trading strategy. 


-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 are 100.70 and 101.70.


EURUSD has broken the ascending wedge and is reaching important downside resistance 1.0600 level. Below this level we expect it to hit our TP target on existing medium-term short trade 1.0440. Important notice—- Looking for new short entries on intraday price action. This will be our second short entry and it will have SL above 1.0720. We will move SL on existing short trade to entry level 1.0713 and lock the trade.


GBP/USD is back in the focus again as the pair is persistently staying below downside Pitchfork channel Median line 1.2660. We are watching for downside continuation from this zone and especially in the case of the clear daily break below 1.2450 level. Important notice—- Looking for short term entries on intraday price action or a long trade in the EUR/GBP.


USD/JPY has bounced from 112 support level but we need more conviction for long trade with a daily close above 114.400 level also a 100 SMA. Important notice—- Still looking for the long entry on intraday price action. Short only on a break below 112 or in the case of strong bearish rejection from 114.400.


AUD/USD behavior recently has left the pair in the downside sideways range above 0.7500 and still without the break of the important confluence of downside support below 0.7720 leaving it open for short trades, at least for 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 faced a strong bearish rejection from the medium-term downside channel 0.7300 level and opened a bearish continuation possibility. Important notice—- Looking for short entries on intraday price action at least for a pullback to 0.7050 level.


EUR/GBP is holding the 0.8500 level for almost three weeks and has formed a bullish stick sandwich candlestick pattern. Looking here for an upside continuation especially in the case of  GBP/USD extension of weakness.Important notice—- Looking for long entries with 0.7480 SL. 


Gold is now in the perfect zone for a try of perfect risk-reward short trade. It is rejected from 1240-1258 first strong downside support confluence zone. Important notice—- Entering short on Sunday/Monday open with SL just above 1245 targeting 1150.

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—-


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