Forex Trading Room - USDCAD Intraday Profits + Long Term Trades for NZD

In today’s live trading session, we went over the profits made from our USDCAD intraday trades. We then found swing trade setups for EURNZD and AUDNZD.

We decided to hold our USDCAD short from last week over the weekend because we were confident that USDCAD was looking to drop. That was a great decision on our part as the trade hit its first target of +26 pips. We then found an intraday short for USDCAD in yesterday’s session. We took the trade and over the course of a few hours, this pair dropped +50 pips. Two simple intraday trades lead to 50-70 pips, not bad at all for a Monday.

For the rest of the session, we went over swing trades for EURNZD and AUDNZD. Both pairs have been in uptrends that have since then fizzled out. Currently, they are both consolidating and we expect an impulse move to the upside. We will be looking to go long once price breaks the current consolidation zone and our candlestick analysis indicates a push higher and not a fakeout.

Usually, we start the trading week off slow, but it’s great to have two winning trades in the bag. We also have US sales data being released tomorrow which should inject some volatility into the markets which will most likely activate our pending trades. As always, be safe and trade responsibly!