AUDCAD reached all targets today, a nice early gift as we enter the holiday countdown. We also sent out a potential long trade idea for a SOL today. In a world where most Layer 1’s (like AVAX and LUNA) are pumping, SOL is the farthest behind in structure and in today’s % change. We would say it’s a safe bet to think it won’t be behind for long, and will look to play catch up. For those reasons, we picked up some SOL spot for the portfolio.
No high impact news today to push the US dollar higher. We will be monitoring tomorrow’s Core PCE Price Index which might also push up DXY. We’re still bullish, unless we see price close below ( members only ) on the daily time frame.
Price on EURUSD and GBPUSD are within bearish order blocks, so we might see a potential rejection to go lower either today or tomorrow.
For AUDUSD, we used the strength on AUD to sell GBPAUD going into the rest of the week. As noted above, we also hit all targets today on AUDCAD.
Turning to NZDUSD, the strength of NZD gave us a buy on NZDCAD trade idea, and also gave a sell opportunity on EURNZD. We might see these two pairs continue in their respective directions.
Price is stuck in a range for EURGBP, so we will be sitting on the sidelines until we see a clear direction.
The price for USOIL is currently in premium relative to the current trading range, and we are anticipating a potential sell. Our stop loss for that would be at ( members only ). Due to the lack of liquidity during the Christmas holidays, price might stay in a consolidation. For that reason, we feel it is better to wait until after Christmas.
BTC is also in a pull back, like OIL. We still have a sell idea at ( members only ) with a stop loss at ( members only ), and are expecting opportunities for partials at ( members only ) and ( members only ).
In other crypto news, HNT continues to give gains and it has hit ( members only ). MATIC looks like it might be going for all-time highs soon. If Santa Claus rally is a real thing, we might see that play out.
Today’s live session was our last before the holidays, and we will resume on Tuesday, December 28. Our entire trading team wishes you and your families a very safe and happy holiday season, and here’s to another year of trade profits together!
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