SELL DXYThis week the USD has been retracing, most traders are going long but we know how this goes. Based of our strategy and approach we are still very much bearish on the USD. Our positions for shorts are at 99.916 and adding more shorts at 100.500. Our targets remain at 94.760. If you are catching this set up now then your stops should be above 1011.300. Use proper risk management and risk what you can afford to loose. Best of luck folks.
Gwg
SELL THE US DOLLARThis is a continuation of our previous analysis on DXY. As we had mentioned USD DOLLAR will drop all the way to 94.800 before we consider any bullish market movement. In the next session we will be monitoring DXY for selling positions (this means buying EURUSD, GBPUSD and GOLD). Keep your risk manageable and use proper risk management. Cheers to you all.
BULLISH GOLD AHEADGold in our view remains very much bullish. Our level of 2664 and 2626 should hold as strong buying zone and support. IT SHOULD NOT BREAK 2626. Targets are 2800 and 2915-2943. Since this is a long term view , we will be updating as time goes by. Use your own risk management and remember trading comes with its own risk. Lets get it.
BEARISH BAT ON GBP/JPYOn the 4hr chart a classy bearish bat has formed. If the D leg should go beyond the previous highs on the left 143.090 then it will stretch the D leg a bit too far and hit our stop loss. Am hoping the PRZ on this pair is almost. Look out for bearish evidence and if the trade meets your rules of entry then this is a good one for the week. Blessed weekend my friends. Make more pips
BULLISH BAT ON USD/CADWell seems USD/CAD has dropped to a significant level on this pair. On the daily its a few pips from touching the 61.8 fib which i believe is the PRZ for this pair. The pattern will still be at play if the D leg goes down 1.3280 this is an area where bullish pressure should build. If it meets your strategy and plan please keep this in mind. Happy trading pals. success to us all.