Live: Plenty of opportunities
During today’s live webinar, Thinus covered the M2 setups for the upcoming week. Following that, I joined him to present shorter timeframe setups and also discussed E&S pairs.
The US dollar has strengthened notably after hints from Powell last week suggesting that a rate cut in March is unlikely. This was further reinforced by robust NFP figures, surpassing forecasts, and leading to a breakout of the dollar from its recent range. There have been numerous breakout opportunities across major currency pairs, and in today’s session, we delved into strategies for trading them.
So now since we had the breakouts of the big areas. We need to wait for the pullbacks and then set the orders to trade in that direction again. We went through this in the webinar. I also showed you how I caught the USDCHF on a classic M2 breakout.
It has currently pulled back a little but I’m still holding it as the DXY is very bullish. Remember DXY and USDCHF go in the same direction. Also, the EURUSD is heading down so some good confluences.
The E&S pairs had 3 set ups for the week but I explained in the webinar why only 1 out of the 3 looked attractive to me. For the GBPAUD I’m waiting for a breakout of the 1.93500 region again as it pulled back deeper after the AUD news overnight.
You can watch the full webinar below: