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[Week 18 - 2020] Trades Recap and Trade Setups

Updated: Sep 20, 2022

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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