Welcome back Traders to another live session. Last night during the London session, China dropped a bombshell by saying that they would like to work out a deal with the US in their ongoing trade war. This caused USD strength and CHF & JPY weakness. Which in turn lead to our USDCHF trade to be stopped out, while our others got stopped out at entry. This is why it is key to secure profits as unexpected things can happen. We shift our focus to taking advantage of such news, in particular we look to possibly long EURJPY and CADCHF, given that we get an ideal entry.
Additionally, our #EURUSD trade has hit the intraday target of 1.10700, and our #Gold long trade which was discussed yesterday, has hit the target of 1550 to secure another +120 pips. Gold is expected to drop since hitting this level and pay a visit to 1519. We do need to take a hint of caution, as such impulsive news gains can be short lived. All it takes is a few tweets from Donald Trump to wreck havoc in the markets.We always want to avoid unnecessary risk and take what the market gives us.
The trading week is dwindling down, and we have a few fundamental releases to go, so we will seek the best trade setups to end off the week right. Tomorrow we have our FREE session, so be sure to tune in and invite fellow traders who could benefit from the session.
Happy Trading, and see you tomorrow!
Watch the Live Session Here: https://www.forexlens.com/portal/