[Week 18 - 2020] Trades Recap and Trade Setups

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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