Weekly trading plans: AUD/USD, USD/CAD, SPX500 and Bond [Video]

Juan Maldonado Elliott Wave Street

Markets are making sense during this pandemic cycle. Using the Elliott Wave theory is key to reduce bad trades and make more out of the ones that work. Remember, we do not have to be right all the time, but when we are correct, we need to squeeze the trade as much as possible. And cut the losses quickly.

The SPX500 seems to need a lower low before we think on a bounce, while the Aussie wants to move south. USD/CAD could be interesting to look up for a short setup. Here is the weekly video with more insights.

Author

Juan Maldonado

Elliott Wave Street

Juan Maldonado has a University degree in Finance, and Foreign trade started his trading career in 2008. Since 2010 has been analyzing the markets using Elliott Wave with different strategies to spot high probability trades.

EUR/USD holds lower ground near 1.1850 ahead of EU/ US data

EUR/USD remains in the negative territory for the fourth successive session, trading around 1.1850 in European trading on Friday. A broadly cautious market environment paired with modest US Dollar demand undermines the pair ahead of the Eurozone GDP second estimate and the critical US CPI data.

GBP/USD keeps losses around 1.3600, awaits US CPI for fresh impetus

GBP/USD holds moderate losses at around 1.3600 in the European session on Friday, though it lacks bearish conviction. The US Dollar remains supported amid softer risk tone and ahead of the US consumer inflation figures due later in the NA session on Friday.

Gold trims intraday gains to $5,000 as US inflation data loom

Gold retreats from the vicinity of the $5,000 psychological mark, though sticks to its modest intraday gains heading into the European session. Traders now look forward to the release of the US consumer inflation figures for more cues about the Fed policy path. The outlook will play a key role in influencing the near-term US Dollar price dynamics and provide some meaningful impetus to the non-yielding bullion.