In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we observe more Dollar strength and Oil weakness. It feels like groundhog day as we find ourselves identifying the same trade ideas as the focus for our profitable trades for the day.
USDCHF
To begin with, we are continuing to focus on Dollar strength. At this stage in the Dollar move, we have a specific focus on the USDCHF above 1.0111 which is above the weekly high. This is the highest price since May 2017 so continuation is expected here.
USDCAD
The next market to capture our attention is the USDCAD market. With the Oil markets plummeting and the Dollar stronger right now, it makes sense to look at the USDCAD. Specifically, we are looking for a break above yesterday’s high of 1.3250.
Oil
The other market which has captured our attention for over a month now is the Oil market. Continuing to make daily lower lows, our trade idea is very simple. A break below 58.66 would give us a high probability trade to the downside so keep a close eye on it.
More Dollar Strength and Oil Weakness – Full Video Analysis
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