Euro & Aussie

Good day Dynamic Traders,

Hope you are having a great trading week. Lots of news items out today so do check before taking on any positions. Apologies for skipping last night's blog, I had issues connecting to the internet.

Today I have 2 pairs drawn from my analysis for discussion on slightly smaller timeframes. The EURUSD is showing fabulous signs of a 123786/886 on the 240 timeframe. Note the confluences; MACD convergence; previous resistance; Fib reversal areas; and of course the old faithful figure which is not far out of reach. The smaller timeframes have identified me with a nice entry position so I all I have to do now is wait patiently for what the market provides and enter the trade mechanically and emotion free.















The next set up is on the Aussie. The 60 minute chart shows a DT in a downtrend. MACD has done its magic and provided us with early warning about what may be about to happen. Again utilise your trendlines and ESLT to enter upon valid confluences as required by your trading plan.

Have a fantastic trading day!

Bijal Shah