Welcome to another technical analysis breakdown. In today’s live trading session, we went over the current status of our trades as well as price action analysis on a few minor pairs that we may look to trade during this news filled week.
Yesterday, both our XAUUSD and EURUSD trades activated after their entry criteria were met. XAUUSD ended up dropping to our first take profit target of around +35 pips, before our partial position was stopped out at entry price. EURUSD was also well on it’s way to our first take profit target before lackluster US Consumer Confidence pulled the pair in the other direction. For both pairs, our bias remains to be short as we wait for another possible entry.
Today, we were able to find a great trade setup for EURNZD using our price action trading strategy. EURNZD has recently tested the 1.75000 resistance
We are seeing an uptick in the price volume in the markets as expected moving into the midweek with a huge list of fundamental releases coming soon. We have a slew of US and Canadian data being released in the morning tomorrow, so we will look for trade setups for currency pairs that will not be affected. We will see you all tomorrow for another live session to discuss the data and possible trade setups. Happy trading!
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