We started today’s live trading session by talking about the recent developments in the Brexit deal that was proposed to the European Union today. We then spoke about our AUDNZD and EURAUD trades from yesterday which were heavily impacted by the Aussie Employment release. Finally, we did a full analysis of EURNZD and why we believe it’s a great short opportunity.
The European Union and the UK have come to an agreement about an outline for a Brexit deal. Both parties see the deal as mutually beneficial. However, the Democratic Unionist Party (DUP) did not agree and has consequently halted any further progress on the deal. If all members can come to an agreement, we can see the UK leave the bloc on October 31st as planned.Yesterday, we had Aussie Employment data come out better than expected with an unemployment rate at 5.2% vs. the expected 5.3%. This caused our AUDNZD short to get stopped out which resulted in our EURAUD trade going as deep as +55 pips into profit.
In regards to trades for the rest of the week, we did a live trade call for a short on EURNZD. The pair had recently done a fake out to the upside, before closing back below our resistance zone. The pair then closed below our secondary resistance at 1.75500. This brings the possibility of a range fill to support at 1.73700.Tomorrow is Friday, and the economic calendar is clear. Therefore, we have 48 hours to look for more trade setups. We will not force trades, especially on a Friday, but if we come across a good trade opportunity, we will be sure to let you all know in the Trading Room. Be sure to tune into tomorrow’s free live trading session which is available for all free members.
Watch the Live Session Here: Trading Room (Portal)
Check out yesterday’s live session recap: October 16th, 2019
