Ticker tape by TradingView

Want Trade Alerts?

See all of our entries, exits, and analysis. 
Use code READER for 25% OFF!
Join VIP

Weekly Trade Setups 8/3/2020

EURShort bias
USDLong bias
GBPShort bias
AUDNeutral bias
CADShort bias
JPYShort bias
NZDShort bias
CHFLong bias
US30Short bias
MetalsLong bias

EUR/USD

Technicals show resistance on EU on the 1H chart. Prices became overbought over the passed couple of months and starting to come down. Price bounced right off 200 H moving average but is touching resistance. Resistance now lies at 1.17431. With an overall short bias this week on the Euro, we're looking for more short setups on new and/or future resistance levels.

EU on the 1D chart showing prices coming off highs after 14-Day RSI hit 81. Seeing support in the 1.14000s. We have short sentiment until 1.14 with possible short entries at 1.17400s.

USD/CAD

1D chart of UC stuck in consolidation zone between 1.33247 and 1.34980. We have expectations that the USD will be in more demand this week after showing signs of economic growth. If UC can break resistance, we will look to catch the breakout above 1.34980 and look to close at the 38.2% fib retracement level (red resistance line) where resistance lies as well (around 1.38364). We will probably wait for a breakout above resistance before entering so the market picks a direction first.

GBP/USD

GU on the 1D chart finally retracing back after hitting a 14-Day RSI of 81. Price also ran into some resistance in the 1.32000s before coming down a considerable amount. We are sticking to a short bias until price comes down to around 1.28000s where lies some key support.

AUD/CHF

On 4H chart, price bounces off 200 4H moving average and resistance at 0.65500s. We will probably see some more consolidation on Aussie pairs as gold follows. With a long bias on CHF, we are thinking that resistance will hold and look for a break below 0.65123 to the downside on AUD/CHF.

NZD/JPY

US30

Falling trend line on the 4H has shown some respect for that resistance level. Good market news brought prices up today, but there are now signs that the market is short-term overbought. Looking at a short set ups around 26800s. Possible TP around 200 4H moving average.

XAU/USD

Gold price broke out of its wedge on the 1H chart. We have long term bias on gold with near-term short sentiment. Looking for buy entries around 200 H moving average and where prices broke the 3-year high at 1918.


Thanks for reading! If you are interested in joining our trading community, we have chat rooms, trade alerts from our top traders, and educational content. You can join using the link below, and get a discount on your membership.

Disclaimer:

Please note that this email is my personal opinion only. I am not a licensed financial advisor, and any information shared or discussed is not to be construed as investment advice. Trading and investing involves a degree of risk, and is not suitable to all investors. Please consult with your financial advisor before making any sort of investment decisions.

Get Alerts every time we take a trade!

Join The VIP Community!

Our entries, exits, & analysis
Live webinar coaching calls
Trading chatrooms
Strategy library
Use Code "READER" for $5 OFF!
Join Now

Need a Better Broker?

Bitcoin, Ethereum On Sale Again

9/24/2021 The People's Bank of China banned all crypto transactions on overseas Chinese services along with its domestic ban. Bitcoin is down over 8% today and Ethereum is down 11.48%. Our outlook I think we're seeing a lot of noise around China and their condemning of cryptocurrencies before they digitize their own. In the short […]

Read More
What's To Know After The BoE's Monetary Policy Summary

Let's look into the Bank of England's Monetary Policy Summary which took place on Thursday the 23rd of September, 2021. Quick Summary: BoE keeps interest rates unchanged at 0.10% BoE will maintain its asset purchasing target at £875B The vote to keep policy unchanged passed with a 7-2 vote The minutes of the MPC meeting […]

Read More
Is Gold A Buy Here?

9/23/2021 The precious metal snapped three days of gains and tumbled back down to the support range from $1740s-1760s approximately. Gold is down -.56% on the day going into the opening of the NY session. Our outlook Gold will likely rise on the US indices falling, and is usually due to slowing economic growth. Because […]

Read More
Bitcoin Goes On Sale- Golden Cross Opportunity

9/21/2021 Bitcoin Update For the past month, Bitcoin went on a tear rising over 20% from the beginning of August. Recently, however, China and other risk-off factors have contributed to a 23% decline from the recent highs around $52,760. Now the most prominent crypto has touched these monthly lows which could be a potentially good […]

Read More
DISCLAIMER: All comments made by TraderNick’s Forex Group, LLC are for educational and informational purposes only. All comments should not be construed as investment advice regarding the purchase or sale of any securities or financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities or financial instruments mentioned by TraderNick’s Forex Group, LLC. TraderNick’s Forex Group, LLC assumes no responsibility for your trading and investment results. All information on any of the platforms utilized by TraderNick’s Forex Group, LLC was obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. TraderNick’s Forex Group, LLC, its employees, representatives, and affiliated individuals may have a position or effect transactions in the securities and financial instruments herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves very high risk and may not be suitable for all investors. TraderNick’s Forex Group, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment result. Read our full disclaimer here

A1 Trading Company

A1 Trading Company is a financial services and media business founded in Atlanta, USA.
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram