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 again. Our strategy is neutral now and we are more inclined to shorting the USD on the clear close below 99.30 level. The wedge is getting squeezed and is more looking like the descending triangle. Only the close above 101.80 would lead to a long-term uptrend extension. The USD is below the 200 SMA daily which makes it vulnerable to the extended downside. We are slowly building the short positions.
EURUSD is above the important horizontal resistance 1.08700 level with the key resistance 1.10000 ahead. Important notice—- We will look for long entries only on the close above the mentioned 1.10000 level.
GBP/NZD is breaking above the median line of the long term downtrend Pitchfork channel 1.7900 level Important notice—- Watching the price action for a long trade on lower time frames.
USD/NOK is below the 8.7300 with the bearish gap weekly candle which could call for extended downside into 8.3800 level. Important notice—- looking now for the short entries on an intraday bearish price action with SL above 0.8700 level.
EUR/AUD is still in the bearish positioning below the weekly 200 SMA 1.4700 level and with the possibility of AUD/USD bounce. This is now opening the short trade entry. Important notice—- Looking for the medium term short entry with SL above 1.4700 on an intraday bearish price action.
AUD/USD is testing the strong horizontal long-term support 0.7400-0.7450 zone and is making a falling wedge (usually bullish). Important notice—- looking for long/short entries depending on a break bounce from 0.7400 level or a bearish price action below this level.
USD/CAD is reaching the strong resistance 1.3700 level. Important notice—- Looking for the long/short trade entry depending on the break above 1.3700 or rejection from it based on an intraday price action,
Nikkei is in the bearish price action on the weekly chart despite the pullback into the broken trend line 192 level that is why we are short JPY pairs and we expect the geopolitical risks to weigh further on the price. Important notice—- looking for short entries with an SL above 193.
To improve is to change; to be perfect is to change often. Winston Churchill
—-Switching from USD bullish to neutral and more bearish