Week 18 - 2020. Trades review and trade set ups
Good day Trainee Traders,
Market is still choppy however we do see the dollar losing some momentum last week as it breaks both the ascending trend line. I am expecting more dollar weakness this week and this could potentially see a rise in the indexes....however, the last few day of trading, the indexes have declined along with the dollar.
DXY

Trade Recap
GBP/JPY

Reasons: Broker ascending trendline
Double top pattern with neckline broken and retested.
Rejection at resistance level
EUR/NZD

Reasons:
A big double top pattern with neckline broken and retested.
EUR/AUD
Last week we talked about shorting this pair and worked out as analysed


Trade Setup
EUR/NZD

Strong upward momentum reversal at support level
Looking for a retest before going long
USD/CHF

At support region
Needs to break neckline and retest before going long
That is all for this week post. Trade safe but most importantly stay safe all!
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