In today’s live trading session, we went over the current status of our EURNZD trade. We then discussed a possible short for CADJPY.
During yesterday’s live session, we broke down our swing trade for EURNZD. This idea is based on the weekly time frame and price action that was seen yesterday warranted an entry. We are currently at our entry point, as we wait for price to move lower and create a new low. This trade idea bodes well with our potential NZDCAD long which is moments away from the entry.
For the rest of the session, we discussed our bias for the Japanese Yen pairs. For the most part, we are bearish on the Yen. But, CADJPY may be able to change that. If this pair can close below the previous swing low, we may have enough confirmation to enter short. In comparison, we are looking to go long for AUDJPY, once it clears the four-hour resistance zone.
Today is Thanksgiving in the United States and it is a bank holiday across the nation. We may see less volume in majors for the rest of the week as a result. We don’t mind holding trades over the weekend as much of our focus is on swing trades that are based on the higher time frames. As always, be safe and trade responsibly!
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- Read yesterday’s breakdown: EURNZD Trade Entered + NZDCAD Almost Ready
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