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Shorting the AUDUSD as it rolls over early in the U.S. session
The AUDUSD rose early in the U.K. session before making a lower high early in the U.S. session, accompanied by a three candle reversal pattern. A short was taken risking 11 pips for a potential 43 pips to our daily target at .7101. Price moved lower to the a...
Shorting the USDCAD as USD weakness persists today… without any stimulus package and two weeks to go before the election
On Monday the USD started the week moving lower and this continued today. A short was taken in the USDCAD after the U.S. news, risking 13 pips for a potential 45 pips to our daily target at 1.3139. Price moved lower taking out its Asian session low,...
Long the USDCAD early in the London session
The USD strength began to pick up early in the session and a long was taken in the USDCAD risking 10 pips for a potential 30 pips to our daily target at 1.3199. The pair had already broken above its Asian range once and pulled back. It closed above this range again...
Shorting the USDJPY as USD strength wanes today
The USDJPY set up nicely for us today. A short was taken risking 5 pips for a potential 33 pips to our daily target at 105.09. This trade had a great risk/reward ratio and it’s difficult to find trades where risk can be this limited. A confluence of reasons made...
Long the GBPUSD as the USD continues to drop and “risk on” sentiment continues
A light news day and a very heavy USD which continued its downward trend to close the trading week. The GBPUSD remains the most active pair of the majors. Today early in the U.S. session overlap, a long was taken risking 20 pips for a potential 72 pips to...
Shorting the GBPUSD as Brexit lingers on while the USD showed a little strength early in the session
The GBPUSD moved higher at the U.K. open but ran into sellers around 1.2928 and began to move lower. A short was taken as it moved back into its Asian range risking 23 pips for a potential 108 pips to our daily target at 1.2799. The pair moved lower and through its...
Shorting the USDJPY as the USD oscillates higher and lower to end the month
After an acrimonious presidential debate the market takeaway may be that the U.S. election outcome on November 3rd may take some additional time in order to declare a victor. The USD initially moved higher but gave up it gains 2 hours into the U.S. session...
A solid move up for the USD this week and two short trades today in the GBPUSD and AUDUSD
The GBPUSD began to move higher at the European open and jumped higher still when the London traders came on today, before quickly reversing back to trend. A short was taken risking 20 pips for a potential 107 pips to our daily target at 1.2678. This pair...
EURGBP long during subdued trading as the week concludes
After a week full of central bank meetings and announcements, the question might be, so what has really changed? It appears that we will continue to be in a low interest rate environment for the foreseeable future… at least until inflation rises above and...