In our Daily Trade Watch video, we look for high probability trade setups that we can trade throughout the day. Today, we largely discuss dollar weakness against AUD, GBP, CAD and NZD.
With our previous Daily Trade Watch last week, we discussed the AUDUSD breaking above the monthly high but we did not see any follow-through. However, the follow-through occurred today. We have seen a similar situation for the NZDUSD and USDCAD markets with the GBPUSD creating a structural failure trade to the upside. We are specifically looking for continuation in these markets where prices break above or below daily highs depending on the market.
The level in the AUDUSD is the 0.6676, the same level in the NZDUSD is 0.6228. In the USDCAD we are looking for continuation below yesterday’s low of 1.3755. Finally, the daily high in the GBPUSD is 1.2363. These are the best set up we have seen for a couple of months if we get the follow-through.
Dollar Weakness Against AUD, GBP, CAD and NZD – Full Video Analysis
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