Welcome to another live session. In today’s session we did a live breakdown of our EURUSD, AUDCAD and GBPUSD trades. We also then took a brief look at yesterday’s Gold trade and where Crude Oil could go next.
We decided to take a short on EURUSD as the pair failed to rally outside of our descending channel. We took the short because this morning, we had a major trend-line break and a close below hourly support at 1.09650. This was confirmation for us that the pair was headed lower. The Australian Dollar continues to weaken, and in combination with technical analysis we have decided to short AUDCAD.
Lastly, we took a look at GBPUSD which has presented a possible short down to historic lows. We are currently waiting for a closure below 1.22000 to confirm our bias. We will let these trades play out as we go through Powell’s speech today and tomorrow at the start of our live session. I will see all the paid members, for another live session tomorrow.
Check out yesterday’s live session recap: October 7th, 2019 Live Session