Welcome traders, to another live trading session. In today’s live webinar in the Trading Room, we started off by talking about the latest developments in the ongoing Brexit discussion between Boris Johnson and members of the European Union. We then shifted our focus to our AUDUSD short trade, followed by analysis on EURUSD, XAUUSD (Gold), and EURNZD.
Boris Johnson will know later today if he will get an extension on his Brexit proposal. The 27 Leaders of the European Union will meet to weigh the U.K.’s extension request and what the format of the extension will be. PM Boris Johnson should have his answer by Thursday evening.
We are currently in profit for our AUDUSD short trade and we can expect further downside to continue. The technical analysis for why this trade was taken was once again explained on the live session in our Trading Room. Using technical analysis, we were also able to identify trade setups for XAUUSD (Gold), EURUSD and EURNZD. We are currently waiting for price action to indicate an optimal entry point.
Later today during London session, there will be a slew of economic releases concerning the Euro, so please be sure to manage your risk accordingly. The economic schedule for today is clear, so we should have a smooth trading day until the early morning hours tomorrow. We will discuss the data released tomorrow during our New York Session at 11:00 AM in the Forex Trading Room.
Watch The Live Trading Sessions Here: Forex Trading Room (Portal)
Check Out Yesterday’s Live Session Recap: October 22th, 2019
