In today’s live trading session, we went over the fundamental schedule for this week as well as potential trade setups to trade. We have determined an overall bearish bias for the Euro and a bullish bias for the Aussie.
The fundamental schedule for this week is jammed packed. We have monetary policy statements for the United States, European Union, and Japan.
In addition to these events, we have consumer confidence, GDP and unemployment claims sprinkled in the mix as well. All in all, it should be an exciting and volatile week to trade.
In terms of setups for this week, we have our gaze on shorts for the Euro and longs for the Aussie. Last week we took a sell for EURAUD, which was stopped out by 13 pips before dropping +150 pips. We have entered short again after the pair had closed below daily support. We then identified a long setup for AUDUSD and AUDNZD. We are waiting for the current 4hr closure to close bullish before entering long.
Other than the Bank of Japan conference today, the fundamental schedule for the rest of the day is relatively bleak. Things will start to pick up considerably on Wednesday with the FOMC statement presented by Jerome Powell. Patience and discipline will dictate how well this week goes. Let us have a great one! As always, be safe and trade responsibly.
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