Short term trading opportunities of EUR/USD, USD/JPY, AUD/USD, Gold and DXY
| Position update
1. EURUSD: Close long position from 1.1162 at market, spot 1.1180
2. USDJPY: Close short position from 110.55 at market, spot 109.56
3. Gold Futures: Close long position from 1273.4, spot 1283.90
New Trade Idea:
1. EURUSD: Long at 1.1160 stop 1.1100 for 1.1324 ( Risk 0.25% )
2. DXY: Sell at 97.80 stop 98.27 for 96.70 ( Risk 0.25% )
3. Gold Futures: Long at 1280.5 stop 1272 for 1324 ( Risk 1% )
4. AUDUSD: Long at spot ( spot 0.6885) stop 0.6860 for 0.6930 ( Risk 0.25% )
5. USDJPY: Sell at 110.00 stop 110.67 for 107.54 ( Risk 0.15% )
EURUSD
The price reached the new YTD low point at 1.1106 and quickly reserved back.
It's too early to call a major trend reversal, but short term trend already points up.
According to Market Profile study, the price already closed above short term control point at 1.1191 (Euro FX Futures).
The previous long position from 1.1162 looks too risky, it always risky to directly pick the top and bottom.
We'll try a new long on dips toward 1.1160.
DXY
Almost the same as EURUSD, the price closed below short term control point at 97.78,
On daily chart, it closed back below the trend line.
Daily oscillators already reached their range high and threaten to cross-over.
If the price closed near current level today, it will form a potential weekly exhausting bar.
Still too early to call a major trend reversal, but some retracement is very likely.
USDJPY
The price is holding above short term control point at 109.58.
But both weekly and daily trend still points down.
We'll look to re-sell small bounce.
Gold
The price is rejected by short term control point at 1285.80.
But a small base is formed around 1275.80.
After some consolidation, further upside toward 1324 is likely.
AUDUSD
The price is just ahead 100% extension at 0.6849.
Market Profile study shows short term control point is lower to 0.6880.
My trend following system also generated a moderate buy signal.
However, RBA expressed strong easing bias.
The upside magnitude is a big issue.
We'll try a small long for 0.6930 initially.
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