In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we focus on Dollar related markets with USDCHF and USDCAD opportunities present if we start to see some Dollar weakness creep into the majors.
USDCHF
The first market we would like to look at is the USDCHF market. We have seen a really strong pulback in this market off the 0.9541 level and back up to the 0.9953 level. This is a significant move over the last few weeks.
As we can see, price has consolidated in this market over the last 4 days while rejecting moves to the upside. This means that we are left with the potential for this market to roll over to the downside below the 0.9900 level.
USDCAD
A similar situation exists for the USDCAD, where we have seen a strong pullback from the 1.2780 monthly low. We are now consolidating around the 1.2950 level. Again, if we see the price break below 1.2934 it could give us another high probability trade to the downside.
USDCHF and USDCAD Opportunities – Full Video Analysis
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