US Dollar Strength Is Back, Time For Majors To Slip?

Welcome to another live trading session. In today’s live trading session, we went over the profits from the trades we took yesterday, and then discussed potential setups to take today.

In yesterday’s session, we analyzed and entered two trades live. One was a short for EURUSD. This pair hit our first take profit at which point we decided to exit the trade as the hourly candle presented a hammer. The next trade was EURJPY, which dropped to our first take profit and almost to our second before stopping our partial position at entry. These two trades brought a gain of about +50 pips.

After the session, a signal was sent for USDCHF. The trade was based on the 1HR timeframe as the pair had run into some resistance. The trade was very simple and had hit our third take profit before bouncing our partial position out. In today’s session, we decided to take a long on USDCAD and a short on AUDUSD. The USDCAD trade is an intraday long setup, while the AUDUSD trade was a swing short setup.

The markets are volatile as ever, many of our pending setups were scraped due to our entry points being crushed. This is what we will have to deal with. We do not know when this will all end, but at the end of the day, this is much bigger than trading. We hope everyone is safe and takes the necessary precautions to avoid catching the virus. The markets will always be here to trade. As always, be safe and trade responsibly.