FX Market Outlook 08/04/20

If you had to take one trade today, and it had to be a winner, what would your process be for entering that trade? Think about that for some minutes.

Let’s get onto the markets.

USDCHF

Lovely bounce from the area we spoke about in the last outlook. These are the types of area to get involved at.

USDCAD

I am offered here for now, looking for a small bounce into the lower white dotted line. This is very close to filling.

GBPUSD

Daily Chart
Hourly Chart

As well as the trades we spoke about in the last outlook, there is something else setting up.

Looking on the Daily chart, we had a bullish engulfing yesterday at what I have marked as a Daily level. If we break the interim high on the hourly chart, I am certain we will grab the liquidity above the triple top. My entry will be on a pullback once we break the high.

GBPJPY

I’ve had to put this on a four hour chart because the level is so big. A clean break and close above this structure will have me hunting longs on a rounded retest of the level.

AUDUSD

Same as above, break and acceptance above the level gets me into a long trade.

And that’s it. Quite a lot to be on the lookout for into the second half of this week. Take care!

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