Longs are still very much on my radar at the moment. Last week I was looking for continued longs and my trades on EU, EG and EJ all rallied strong so there were hundreds of pips on each. We’ve seen the markets retrace now and there are a few demand levels that could potentially provide some more trading opportunities. Check out the details.
CADJPY – Long
CJ fell heavily like many other pairs last week and rebounded just before hitting a supply level. There’s also supply up above but we’re still closer to demand. If price drops back down to it I’ll be interested in a long.
EURAUD – Long
EA rallied much higher from the level we were looking at last week and is now on it’s way back down to the level. If price continues to fall with the red candles only then we could have the long trade we’ve been looking for.
EURCAD – Long
EC has a similar picture to EA in that there was a huge rally last week which has left behind a demand level that I’m interested. This too is on the watchlist.
EURNZD – Long
The Euro theme continues with EN where we have a daily demand level preceding a large rally in price. The usual rules apply when price comes back to the zone.
EURUSD – Long
Once again price is in between two levels on EU and it’s pretty much at demand at the moment. The arrival was good so I’ll be looking for a potential move back up from here.
GBPUSD – Long
GU has also arrived at demand with red candles only so I’ll be watching PA for a reversal.
USDCHF – Short
As can be expected USDCHF is doing the opposite of EU so there’s a potential short on here.
Members can login to the forum for the detailed analysis which looks at the lower time frame levels we are watching to confirm entries. This weeks detailed video analysis is here. If you do not have access to the premium content then you can find out how to sign up here.