I’m avoiding the GBPUSD due to volatility with the ever changing Brexit deadlines and rumours. Even if an agreement between the U.K. and E.U is confirmed, it will just take one European nation to veto it.
The EURUSD and USDCAD are my favourite pairs this week. The USDJPY, AUDUSD and NZDUSD are very tradeable too.
Today shorting the USDCAD which required 2 separate trades, initially involved risking 10 pips for a potential 50 pips to our daily target at 1.2881. The move downward since the break of 1.3000 has been impressive, like the EURUSD move above 1.2000… mixed with the DXY move beneath 92.00.
The first trade was closed at yesterday’s low when it began to move higher at the beginning of the U.S. session. It’s very common to have a reversal as a new session begins. A reversal pattern set up as price failed to stay above its Asian session low and a new short was taken as the USD slid further.
Friday brings the NFP release which tends to be volatile but may be less so tomorrow. Be careful trading around it.
Good luck with your trading!
