In today’s live trading session, we did a quick overview of our trades taken yesterday and then looked for trades to take for the rest of the week. We found two extremely promising setups for USDCAD and US Oil.
In yesterday’s session, we did a live entry for NZDJPY. We decided to take a short for the pair as it had failed to make new highs and fell back within our range. After some initial drawdown, this pair ended up satisfying our final take profit for a potential gain of up to +95 pips. We also took a trade for EURUSD, which after some conflicting retail sales data, hit our stop loss of -54 pips. Our first substantial loss in quite a while.
In today’s session, we identified a possible short for US Oil. After this commodity clears its recent support, we should see a simple freefall to the previous decades’ lows. Similarly, USDCAD has been on quite the bull the run for the past day. We may have a chance to ride the momentum to the previous daily resistance at 1.42600.
We have covered six possible trade setups to take for the rest of the week. Out of the six, we will choose the ones that satisfy our entry criteria and conform to the current fundamentals. An important event is tomorrow’s US Unemployment Claims release. The majors will be heavily affected by this release. Please be safe. As always, trade responsibly!
Watch the full recorded live webinar in the Forex Trading Room Portal
Come chat with us on our Discord Server: Request Access
Read yesterday’s article: US Dollar Selling? Gold, Euro and Pound Aim To Make New Highs
Haven’t signed up for a Free Membership yet? Click here.
Ready to be a Paid Member? Click here.
Use FIRST50 to get 50% off your first month.
