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[Week 19 - 2020] Trades Recap and Trade Setups

Updated: Sep 20

Good day Trainee Traders,

We are seeing some recovery in the USOIL futures and the stock indices (recovering from last week's red). The dollar remains in a range and did not fall further as what I was expecting last week. However, we are seeing lower high from last week's high.


DXY

Trade Recap


AUD/JPY

Reasons:

Reversal of resistance

Reversal of double top neckline resistance


USD/CHF


Last week we analysed that we will be looking to long with more confirmation and was a spot on analysis as price reverses from neckline resistance turned support.


Trade Setup


EUR/NZD

Price is consolidating at the support region. We may see more further downside. However, I am expecting price to retrace to the 0.38 retracement region which is also a previous support & resistance. However if the support line break, I will be looking for a sell position.


AUD/NZD

We are seeing a slow price momentum with the ascending trendline broken. Will look for a short position, when the support line breaks which will also form a head and shoulders pattern.


That is all for this week post. Trade safe but most importantly stay safe all!

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