In our Daily Trade Watch video, we look for high probability trade setups that we can trade throughout the day. Today, we analyse the markets with the dollar showing signs of turning.
We have seen a fair amount of consolidation across many dollar markets with significant strength creeping into the dollar in the EURUSD, USDJPY, AUSUSD and NZDUSD.
As a result of this potential dollar strength trade, we turn to the Gold market which is now at the pullback phase for a potential next leg lower. We will be looking for opportunities to sell this market below yesterday’s low of $1488.01. We will, of course, look to mitigate risk as quickly as possible on this trade due to recent choppy market conditions.
Dollar Showing Signs of Turning – Full Video Analysis
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