We did some exciting trades today!
It looks like 0.7500 will be the strong resistance level for Aussie dollar, as it tested this line for three times and not able to break the line. We entered the trade at around 0.7500 and we gained great profit now.
There are two plans for Aussie dollar:
- Wait for it break the upward trend line (blue), then we short at the traceback and hold it tight until at least 0.7300. I would say this plan may happen with higher possibility, as compared to second plan.
- If Aussie breaks 0.7500, then we long Aussie at pull back.
We made some exciting trade on NZDUSD as well and it was all shown on the following chart!
The probability for next week interest rate hike is ~99% (next week). However, we can’t just buy USDJPY now, if we don’t buy it from 100-102 area.
105.60 area is the important level for USDJPY.
There are two plans:
- If USDJPY breaks 105.60, then we definitely can long US dollar at pullback.
- If there is strong price reaction at this resistance line, then we can enter short term trade to sell US dollar until 110 area. And then maybe we can long US dollar at 110, if it didn’t break the line. If US dollar breaks 110, then it will be another story and we need to analyze again then.