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Week 11 - 2020. Trades review and trade set ups

Good day TTs,


Risk off continues but we managed to closed higher before the market close on Friday yet again from covering. (not surprising). Suspect the rise due to FED's pump into the market.


Expecting market to be bearish still until we have positive news regarding the COVID19.


Trade Recap


AUD/JPY

Reason:

Broke trendline

Retest trendline as resistance

Resistance level @ 69.00


Trade Setup

Price is now at the region of key resistance area. Expecting price to do a retracement to key trendline area before surging higher .


GBP/AUD

Price has a false breakout on the lower descending trendline channel. Expecting price to rally towards the upper trendline of the channel before coming down.


That is all for this week. Stay safe!


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