TRADING DESK STRATEGY REMARKS AND MEDIUM TERM TRADING PLAN NON-EDITED
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Main trading strategy focus stil $DXY
We are still bearish on USD and now we have another weekly bearish candle below 34 SMA and above 100 SMA so the index DXY is squeezed and there is a great possibility of downside break next week and we are preparing for that. This possibility is also helped by the FED inaction and it inability to deliver any long term strategy concerning interest rate path, so the USD strength has no fuel left. Friday bounce we see just as a covering.
Our EURUSD second long position reached the target on Thursday and we have the first one from much lower level in profit and we are keeping it for a break upside which we expect to happen in the pair. Two triangles, long term wedge has narrowed and now there is only a break possibility. See clearly the squeeze on chart never before has been compressed like this. Watching 1.11560 and 1.13340 for direction higher or lower. It is just sitting on a 200 SMA as DXY like a mirror look.Important notice—- no further positions until we have a resolution over this level and we will lock our second position with a stop in profit or a break even
We are still watching USDSEK because it is in good position to use it for fading strength in USD. It is just above short term uptrend line 8.5000 level and breaking of it would lead to a test of 8.4000 after which everything is possible.Important notice—- possibly to take short on Sunday/Monday.
Gold is again up to a wedge border which needs to be broken and we are waiting for it to get heavy long. 1349 is now that break out level which are we waiting for. We will enter long on a break and not retest.Important notice—- possibly to take long on Sunday/Monday.
YEN pairs we are looking at NZDJPY and USDJPY for a possibly excellent trades look our special report HERE.
GBPUSD touching lower end of the edge and still holding above it and could be a good positioned for another range trade on an expected USD weakness. Above 1.2940 we need a price action signal for long trades.
We are watching still AUDCHF for an explosive next move. In the middle of the range and we could look for a price action valid signal for longs to extended move to 0.7550.Important notice—- Looking for an entry based on price action.
USDCAD reached perfect break or fall point just bellow 200 SMA and now we are trying to find opportunity to short the pair before the FED. Range potential is 1.2900-1.3250 and still valid with a weekly hanging man candle below an important level.Important notice—- To take short on Sunday/Monday trading session on price action.
Commodity currencies watching and we took AUDUSD long for a range up potential.
To improve is to change; to be perfect is to change often. Winston Churchill
—-HAVE A GOOD TRADES! KEEP THE GOOD WORK UP!—-