Happy new month! Pinch Punch, first day of the month and no returns & all that sort of things.
Let’s dive straight into the trade update (I am out of AUD/USD for BE)
AUD/USD Short 0R
I executed a short on Australian Dollar / Dollar to look form a potential 3:1. Once the price reached 2R I moved my stop to breakeven. I expected a pullback to reach the ascending trendline and the 50EMA however it closed above on a daily which gave it enough strength to remain bullish. Hence I’m happy with a break even trade.
Aussie Kiwi recently broke an ascending trendline so I’m keen to see how it will react to the area of supply it recently created
Pound Aussie is dropping like a stone and approaching an area of demand, let’s be patient and see what happens once we reach it
Similarly to GBP/AUD we saw a strong leg lower, however we’re already witnessing some buy pressure on this pair so let’s see if it makes it to the area of demand
Dollar Swiss has been more or less everywhere recently, but it looks as if it’s going to test an area of demand. Let’s see what happens
I want to mention Dollar Singapore since we created a new area of demand
Stay safe folks!