Aug 8th 2016
Aug 10th 2016
NY Session updates:
we saw continuous selling into USD all London session and large buying into AUD & NZD.
My position of EUR/USD has stopped out and the only thing i felt that i should have done was to get out at 1.1040 because i didn’t really have enough reason to stay in the trade at that time, but at least i’ve tightened my stop loss and only lost 0.3%.
My small entry into USD/CAD also got stopped out due to USD weakness, this is still a possible good trade if the Crude Oil inventory data at 10:30am is positive than -1.3M. Currently WTI is trading back at $42.50 again.
So if the crude oil inventory is positive and WTI can stay below $42.50 the lower the better, USD/CAD will be a good pair to long.
But honestly since USD is in such a weak sentiment, I might actually go with AUD/CAD or NZD/CAD.
AUD/USD is the mover for now, if the sentiment continues throughout the NY session, you can find opportunity to long AUD/USD.
However, we’’ve already travelled almost 100 pips and above the daily pivot R2 as well, the average range is only around 100 pips, so there might not be any room to go.
If you want to buy at retrace, you can aim for
0.7700
0.7650
or 0.7600
but remember, the more it retraces, the careful you have to be to see whether the underlying condition is still the same.
Let’s pretty much it for now, have fun and happy trading!
we saw continuous selling into USD all London session and large buying into AUD & NZD.
My position of EUR/USD has stopped out and the only thing i felt that i should have done was to get out at 1.1040 because i didn’t really have enough reason to stay in the trade at that time, but at least i’ve tightened my stop loss and only lost 0.3%.
My small entry into USD/CAD also got stopped out due to USD weakness, this is still a possible good trade if the Crude Oil inventory data at 10:30am is positive than -1.3M. Currently WTI is trading back at $42.50 again.
So if the crude oil inventory is positive and WTI can stay below $42.50 the lower the better, USD/CAD will be a good pair to long.
But honestly since USD is in such a weak sentiment, I might actually go with AUD/CAD or NZD/CAD.
AUD/USD is the mover for now, if the sentiment continues throughout the NY session, you can find opportunity to long AUD/USD.
However, we’’ve already travelled almost 100 pips and above the daily pivot R2 as well, the average range is only around 100 pips, so there might not be any room to go.
If you want to buy at retrace, you can aim for
0.7700
0.7650
or 0.7600
but remember, the more it retraces, the careful you have to be to see whether the underlying condition is still the same.
Let’s pretty much it for now, have fun and happy trading!