In today’s live session, we went over the status of our EURAUD trade, and then we found a trade idea for GBPAUD.
During yesterday’s live session, we discussed a potential long setup for EURAUD. This was based on the 4hr candle at the time pushing above last week’s high. We let our members know that if the daily candle was bullish, that they were free to enter the trade. Within no time, the trade surged to the upside with a possible gain of up to +190 pips.
As for new trade setups to take, we have found a potential short for GBPAUD. This trade is based on price rejecting June’s high and printing a shooting star candle on the four-hour timeframe. We see that price is looking head lower, but we will wait for price to clear yesterday’s low. In addition, AUDUSD is looking to rebound higher which gives us more confluence for this idea.
As previously discussed, when the US Dollar Index (DXY) is moving in a trend, it results in a much easier time to trade. We still have the all-important Euro PMI release this Friday, which may provide some last-minute volatility before the market close. We’re in great shape, let’s keep this up. As always, be safe and trade responsibly!