Every week our non-edited trading desk strategy remarks in deep analysis and medium term trading strategy.
TRADING DESK STRATEGY REMARKS AND MEDIUM TERM TRADING PLAN NON-EDITED
-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 briefly broke above 101.70 and we expect another retest of 101-101.30 support zone early next week for the upside continuation.
EURUSD has broken the ascending wedge and has broken briefly below 1.06000. Expecting a continuation from here to test 1.04600. The pair has made a bullish outside day on Friday but it is not changing our bearish view, on the contrary it could give us new opportunity to short. 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/JPY is back in our focus again because we could see a large directional move to the downside or the upside. Important notice—- Watching 142 and 138.500 level to take 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 briefly broke above the important 8.4200 resistance and then pulled back. Important notice—- Looking for the medium term long entry in the 8.4100-8.4200 zone or on market in case of the bounce from 8.4200.
NZD/USD we took the profit on our short trade. We will now look for a new position if we get a pullback to 0.7100 area for the downside continuation. Important notice—- Looking for short entries on intraday price action if indicated zone is reached.
USD/JPY another week without a break above 100 SMA 114 level, but we will look for the long trades on this pullback in the 113.500-113.700 zone. Important notice—- Looking for long entries on the intraday price action as long as it is safely above 112.
NIKKEI is pulling back to support zone and this could give us new opportunity to go long. We will look for long trades on JPY pairs as well as earlier mentioned. Important notice—- looking for long entries on the start of the next week with SL just below 191.50.
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—-