Ok! Excited to trade this London session as today could be a big pip winning day!
Below you will find the text and video versions of our watchlist for the day... but remember, we don't release this info to the public every day but we do to our community so JOIN US!
- Euro area Service PMI's
- UK Service PMI
- US ADP Non-Farm Payrolls
Important to know: Australia’s economy does better in December quarter but troubles ahead (more AUD bulls?)
TRADE OF THE SESSION:
AUDCAD BUY (Strong bullish continuation)
With the great growth news and solid monetary policy back by very strong bullish momentum, I think AUDCAD has the potential to break out of the key resistance of 0.88430
The pattern we have is a bullish continuation.
OTHER POSSIBLE TRADES:
Across the charts, I am seeing that GBP will make a strong comeback, but that doesn't really mean it will happen in this session. Generally, EUR is pretty strong so don't trade vs its bullish trend.
GBPAUD POSSIBLE BUY
Price creating a strong bull contraction, I would wait for a retest of 1.93060 to go long on this one.
AUDNZD POSSIBLE SELL
Contraction leading to a key resistance will monitor for a possible entry
EDUCATIONAL TIP FOR THE SESSION:
Pull the weeds, water the flowers. Cut your losses short (when you are wrong and have SLs) and ride your winners by being proactive towards what they charts show and tell.