In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day ahead. Today, we discuss the prospect of more Dollar strength to come. After last night’s FOMC, we have seen the US Dollar eventually strengthen against the majors. As a result, we are currently in a couple of very well performing trades, namely the EURUSD and the AUSUSD markets.
USD Pairs
We would expect to see continuation in Dollar strength which we have been seeing all day yesterday. So, as we go through USD pairs, we can look for continuation below yesterday’s low in the EURUSD below 1.1637, in GBPUSD below 1.3073, in USDJPY above 113.45, in AUSUSD below 0.7204 and in NZDUSD below 0.6607.
Gold
Outside of the Forex markets but sticking with the Dollar strength theme, we can look at a break below yesterday’s low in the Gold market below 1181.90 level.
More Dollar Strength to Come – Full Video Analysis
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