Welcome to another technical analysis breakdown. In today’s live trading session, we went over the current status of our trades as well as price action analysis on a few minor pairs that we may look to trade during this news filled week.

Yesterday, both our XAUUSD and EURUSD trades activated after their entry criteria were met. XAUUSD ended up dropping to our first take profit target of around +35 pips, before our partial position was stopped out at entry price. EURUSD was also well on it’s way to our first take profit target before lackluster US Consumer Confidence pulled the pair in the other direction. For both pairs, our bias remains to be short as we wait for another possible entry.

Today, we were able to find a great trade setup for EURNZD using our price action trading strategy. EURNZD has recently tested the 1.75000 resistance  level and has printed a shooting star candle. We are currently waiting for confirmation on the next hourly candles to confirm our entry. Make sure to click here to join RP Forex’s trades on Telegram so you can follow along.  We also discovered a long trade setup for GBPJPY, which would be a trade we would take any day of the week…except for this week. As we have come to know, there will be a tentative vote for Brexit today which could result in slippage.

We are seeing an uptick in the price volume in the markets as expected moving into the midweek with a huge list of fundamental releases coming soon. We have a slew of US and Canadian data being released in the morning tomorrow, so we will look for trade setups for currency pairs that will not be affected. We will see you all tomorrow for another live session to discuss the data and possible trade setups. Happy trading!

Halloween is upon us and we are currently offering a 1+1 deal for all new members until November 1st. Pay for one month at regular price today and get one month free. Speak with our support agents if you have any questions or concerns.

Login to the Forex Trading Room to Watch The Full Live Session
Check Out Yesterday’s Live Session Recap: October 28th, 2019
If you haven’t signed up for a Trading Room Membership, you can do so by clicking here.