Trading desk strategy remarks non edited 2/25/2017

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. The DXY is again rejected by 101.70 but is bouncing from a strong uptrend support 100.20-100.50 zone, however we need to see a clear daily close above 101.70 for the upside continuation.


EURUSD has broken the ascending wedge and has broken briefly below 1.06000. Expecting a continuation from here targeting 1.04600. The pair is strongly supported below 1.05000 level but we expect the new cleaning of stops below and downside extension. Important notice—- Looking for new short entries on intraday price action. This will be our second short entry and it will have SL above 1.07200. We will consider moving SL on existing short trade to entry level 1.07130 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. Triangle is formed and a break below 1.2400 level for the downside continuation.  We had a false upside triangle break and a hold from 1.2550 falling trend line level. Important notice—- Looking for short term entries on intraday price action.


AUD/JPY  is supported here and is in the rising wedge. We expect another retest of the upper wedge zone 88-88.500. Important notice—- looking for the long entry on an intraday price action for short term trade. 


USD/NOK is bouncing for the third time from the sharp uptrend line. We expect another attack and the break of 8.4100 resistance.  Important notice—- Looking for the medium term long entry for now with the small risk.


GBP/JPY is hanging on the SMA support (100 and 200 SMA almost touching) and this could be trading opportunity in both ways. Long on the bounce from 138.800-139.500 zone and the short on a daily close below. Important notice—- Looking for long/short entries on intraday price action above/below indicated levels.


AUD/CAD has briefly broken above the important 1.1000 level but then again went below it. With this false break above now, the short trades are open. Important notice—- Looking for short entries on the intraday price action as long as it is below 1.1000 level.


DAX is again bouncing from a new support 11.650-11.750 zone. Important notice—- looking for long entries on the start of the next week with SL just below 11650 level for the profit target of 12070 and possible extension above.

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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