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
DXY is testing important 99.50-99.70 zone. The clear close below this zone will invalidate our upside strategy and we will change the side in USD trades. Bounce from lower wedge support has led to a continuation into the key 101.50-102 zone. For a strong upside continuation, we need to see a close above this zone. We don’t have a close above the mentioned zone and the USD is open near-term to a lower wedge line move 99.50 level.
EURUSD is testing the lower wedge support without the significant pullback. Reaction to 1.05500-1.06000 zone is important. Now the pair is open also to an another bounce into wedge 1.0800 high Important notice—- Watching the price action for the long/short trade on the break of 1.06000 level.
AUD/NZD is testing the 100 SMA on the weekly chart, the 1.0750-1.0800 zone also median line of an upside Pitchfork channel. This is a good place for the long trade entries. The break above 1.1000 level would lead to a complete long-term downtrend reversal. Important notice—- Watching the price action for a long trade for now.
USD/JPY has broken below the important 110 level. This has marked the near-term upside reversal. Important notice—- looking now for the short entries or long trade entries on a retest of 106.500.
EUR/AUD is breaking the bearish flag with a close below 1.4000 level. This is now opening the short trade entry. Important notice—- Looking for the medium term short entry with SL above 1.4100.
GBP/JPY has broken below the important 136.330 level. This break is opening now the 130 retest. Important notice—- looking for short entries with an SL above 137.
GOLD is breaking above the 1280 level and is completely reversing the long-term downtrend. Important notice—- Looking for the long trade entry now with SL below 1260 and looking to short the JPY pairs to exploit the Gold strength.
EUR/NZD we are stopped from the long trade but the pair is now reversing for the short trade and downside continuation. Important notice—- looking for short entries with an SL above 1.5200 targeting 1.4800-1.5000 zone at least.
To improve is to change; to be perfect is to change often. Winston Churchill
—-Carefully building USD long position ahead of the FED interest rate decision and