In our Daily Trade Watch video, we look for high probability trade setups that we can trade throughout the day. Today, we see that positive price action returns to the US dollar.
The reason for this statement is due to the recent USD strength which we have seen over the last couple of days. This has been largely due to much better than expected ADP figures on Wednesday. Additionally, we are very close to multi-week/month highs or lows with many of the USD major pairs.
We do have to be mindful of tomorrow’s NFP numbers, however, if prices break below yesterdays low of 1.0964 in EURUSD then this represents a high probability to the downside. The same can be applied for the following pairs:
- GBPUSD below the monthly low of 1.2906
- AUDUSD below Wednesday’s low of 0.6722
- USDCHF above the monthly high of 0.9764
Positive Price Action Returns to the US Dollar – Full Video Analysis
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