In today’s live Forex trading session, we went over the profits made from our USDCAD and EURUSD trades, as well as trades that we can take before the week comes to an end.
In yesterday’s trading session, we presented two setups that could be available in the next few hours. The first setup was a short trade for USDCAD which required a bearish 1hr closure below support. Roughly 20 minutes after the session, we got the exact 1hr closure we wanted. The trade was entered and over the course of a few hours, our final target was hit for +80 pips of profit. Our next setup was a long idea for EURUSD. All that was required was a 4hr bullish closure above our resistance. Once that occurred, the pair moved +130 pips to the upside.
In today’s session, instead of looking for other pairs to trade, we decided to look for reentries for EURUSD and USDCAD. We found a reentry for USDCAD which dropped 40 pips a few minutes after our live entry. We also found a reentry for EURUSD which is currently in profit. Much of our trades were facilitated by the US Unemployment claims that set a new record of 3.28 million claims. This is four times higher than the previous record.
As expected, patience has once again paid for us in the Forex Trading Room. This week started off rather slow and underwhelming, but we sure turned things around during the midweek. We are now expecting further profits to be made from holding USDCAD and EURUSD. We have Trump giving a speech later as well as tomorrow regarding the Coronavirus. These speeches should definitely rock the markets. As always, be safe and trade responsibly!
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