by Michael Bridgman | May 27, 2021 | Forex Tips
The USD has fallen against the Canadian dollar for 7 straight weeks. As the U.K. session got underway today the USDCAD moved beneath its Asian session low luring in breakout traders. A pullback into its Asian range known as the “wash and rinse” followed and...
by Michael Bridgman | May 21, 2021 | Forex Tips
The GBPUSD tried to move lower early in the U.K. session but bounced at its Asian session low and moved up to 1.4233 where sellers entered. We went short at 1.4214 risking 20 pips for a potential 67 pips to our daily target at 1.4147. The trade moved lower and we...
by Michael Bridgman | May 20, 2021 | Forex Tips
The U.K. traders pushed the USDCAD just beneath its Asian session low where buyers entered near the 1.2100 figure. As price rose to test its Asian session high and yesterday’s high, sellers entered. A short was taken risking 16 pips for a potential 72 pips to our...
by Michael Bridgman | May 19, 2021 | Forex Tips
A late day sell off in U.S equities on Tuesday coupled with crypto currencies selling off heavily today set up a tone of “risk off” trading today. A short in the USDJPY was taken after a reversal pattern set up in advance of the U.S. session overlap risking 10...
by Michael Bridgman | May 14, 2021 | Forex Tips
Sentiment today was accepting of risk in the major equity markets around the world – going into the weekend. The EURUSD benefitted, rising during the Asian session, continuing higher early in the London session, followed by a pullback and retest of yesterday’s high....
