Today’s currency strategies are influenced by Federal Chair Powell’s testimony, which had little effect on the Dollar Index price. We will wait for the Core CPI , which is our next catalyst tomorrow morning at 8:30am EST. In today’s session, we identified Major & Minor currency strategies that will help you understand how to take advantage of prices when the Dollar Index moves out of its range in either direction. So, be sure to watch the replay in the past live session section if you weren’t able to join us live today but still want to take advantage of our currency strategies.
DXY is still in a sideways market. We remain in a range of ( members only ), but are still bullish if price closes above 96.386 on the 4H timeframe. If price goes lower, then watch for the imbalance at ( members only ), and then we can expect a pullback to our targets as well.
For EURUSD, we are bearish and eyeing the ( members only ) level.
We traded GBPUSD to the premium of the range, so price may come for the ( members only ) equal low. Let’s combine this with EURGBP.
For AUDUSD, watch the ( members only ) breaker that is still active, but we are also watching the flipside to take the ( members only ), and even ( members only ).
NZDUSD is stuck in a range, so wait for DXY to push higher and target ( members only ). However, if DXY price goes lower, then target the ( members only ) area, which is at the bearish order block.
EURGBP has gone for sell side liquidity. This might be a sign that price is willing to go after the ( members only ) area, so at this point we will pay attention to GBPUSD. On the flipside, it could go to the old high of ( members only ) and imbalance at ( members only ), so all eyes on DXY (although our main bias is bullish).
USDCAD remains the same as yesterday, and the next draw on liquidity is at 1.27307. With the DXY narrative we can wait for the ( members only ) area to resist and send it up to our levels, with a new first target at ( members only ).
We are changing bias on USOIL as it looks like it is attacking the upside at ( members only ), and then liquidity at ( members only ).
GOLD rejected from our level yesterday and confirmed a swing low. We now see a draw on liquidity at ( members only ), so you can wait for an entry below at the ( members only ) gap. Just remember, GOLD is still a bearish commodity at the moment, and we are taking advantage of the pullback.
BTCUSD has not completely taken out the ( members only ) level (which was the original consolidation level). We should still hit it again, and we see the potential to go down to ( members only ), based on a MMSM. We might even get a potential bounce at ( members only ). Keep in mind, this is not the time to be selling unless you have tolerance.
ETHUSD still has some room to the downside to reach max draw on liquidity at ( members only ) on the charts.
And there’s a ton more of currency, crypto, commodities and other indices left to go over, paid members get to follow along with the trader daily inside our trading portal.
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