Thinus and I went through the setups for this week for M2 and Earth and Sky respectively.
Will the Dollar strength continue?
Your guess is good mine, But it all depends on the CPI and retail news out this week. If we get negative news, that is potentially good news for us as we need those pullbacks to get back into the trades. The majors are quite far away at the moment for entry.
However, as Thinus showed there are areas of interest on the cross pairs. The cross pairs have been giving us some very good trades for the past few months.
So make sure not to get into trades when the USD news is out and manage your orders if you are into any.
The GBP released the unemployment figures today, which came out positive but had no reaction and is stuck like glue. It has lost some pace in the past couple of days.
The new M2 setup that I shared was the EURAUD. If you look on the weekly and Daily the 1.55 area is an A grade. A short anywhere around here has the potential for a good reward. The AUD is also at an area of key support. So a bounce on AUD would work out on the EURAUD. Also, any negative news for the EUR would also bring this down.
Most of the other set ups do need big pullbacks which we could get in the next couple of days.
Earth and Sky
I went through the E&S setups towards the end of the webinar. I have ignored the ones that don’t meet the rules but Included the AUDUSD. Watch the video for my reasons.
The setups do look interesting and I have kept a forward order on the USDCHF as it’s quite attractive.
The full post of Earth and Sky can be viewed here too
We are NOT a “tipping service” our aim is to teach you how to trade for yourself.
You can watch the full webinar below, use the four arrows for full screen: