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Are Foreign Currencies About to Rally?Okay, I'll take one type of trade today. I'll attempt to buy yesterday's low. With the sentiment of price moving higher. I'll set a buy limit order because I don't want to spend most of my time looking at the charts today. I will not buy anywhere else. I will not turn to a seller until I get a confirmation, my confirmation is a move down and retest of support. I'm just flexing my subconscious and also all pairs are at key levels. Our main focus is on Thursday 20 when we get Unemployment Rate, Jobless Claims, and CPI for AUD, USD, and EUR respectively. Have a lovely trading everyone! TRADING PARAMS; Stop-loss: max 30 pip from entry, min 20 pip. Take-profit: 1:2, 1:1, 1:3, 1:4, 1:5. It just depends on the distance from entry to the next key level. Also, we use volume analysis for trade management, meaning we do what the market tells us to do, dynamic risk-reward ratio. We are a signal provider company.
CAPITALCOM:DXYShort
by AffluentTraders
AUDUSD Buy SETUP. Technical Analysis. Swing TradeLooking at Aussie and the dollar index, USD closed below the weekly support yesterday, Indicating a weak dollar for the main time. Today on the AUDUSD, we just got our fractal, meaning there's a high possibility of a turnaround at current market conditions. No doubt our CPI and Crude Inventories will have an effect on this analysis, but we at Affluent Traders are bullish until we get a negative signal. We're risking 20 pips, Entry at 0.72050, Target 60 pips. Trade smartly! Thank you for reading! If you have a remark, feel free to drop a comment! Follow our channel and Like this post, if you find this useful!
Long
by AffluentTraders
GBPUSD SHORT SWING TRADE. Technical AnalysisOkay, Out DXY is at Weekly support, and Pound is at Weekly Resistance. This is our typical Textbook setup so I'll advise you to put your RISK OFF. And by that I mean we're putting our cash on the dollar. We're still risking one percent of our Account with a 25 or 30 pip stop. Entry at 1.36137. This setup has the possibility to be our weekly high, and if that's so, We'll be looking for ways to short this coming week, until we get to the monthly support at 1.34815. Trade smartly! Thank you for reading! If you have a remark, feel free to drop a comment! Follow our channel and Like this post, if you find this useful!
Short
by AffluentTraders
3
Dollar vs Foreign Currencies: Can we put our Risk's off?EURUSD was weak for most of 2021, and the yearly high developed in January. The trend lower wasn’t the cleanest overall, but there were certainly periods where one-way momentum was strong. 9 red months, 3 green months, with a major retracement during April. What is seen as the big deciding factor for the general trading bias is how DXY responds to the (96.753 - 95.99) zone moving forward. It’s not just a psychological level, it’s a real level that has been in play on numerous occasions since 2018. At times it has acted as both strong support and resistance. (96.753 - 95.99) is currently viewed through the lens of resistance as it was recently held for the first time since June 2020. The emphatic bounce off (96.753 - 95.99) in November and December shows that its importance as a major level hasn’t waned with time. While the 2021 trend remains bullish for USD, if the level continues to hold there is reason to at least be neutral, and that could change to a more bearish outlook with time. A meaningful break below 75.70 on a weekly closing basis, however, could usher in another wave of selling during Q1 2022.
Long
by AffluentTraders
RISK ON - EURUSD Buy Trade. Fundamental AnalysisThe dollar index is ranging at a current 1 week Resistance, with a rise in Jobless claims and Philadelphia Fed Manufacturing Index (Dec) is Low. Signaling dollar weakness, at least temporarily. EURUSD is currently set up to break a daily resistance, turning it to support and a move higher. Target 32.6 PIP, Stop Loss 15 PIP. Risk < 2% Account. If you want to know how we draw our support and resistance lines just send a message. Thanks. Like and Follow. Trading Futures, Forex, CFDs, and Stocks involve a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Articles and content on this website are for entertainment purposes only and do not constitute investment recommendations or advice.
Long
by AffluentTraders
GBPUSD LONG SWING TRADE. Technical AnalysisGood evening guys. The Pound is currently on a key support level. Looking at the 4hour candle we'll see 3 bullish exhaustion candlesticks all signaling an increase in demand. Next, I move into the 15minutes to get an optimal entry, my RSI is currently at 58.42, I'll just wait till it returns to an oversold region(below 30), this will serve as a good entry to risk 15pips, 100pips as a monthly target. If you want to know how I draw my supply and demand zones just send me a message. Follow my page to stay updated on my daily setups and Investment opportunities.
Long
by AffluentTraders
1