Trade Recap: AUDUSD still holding up with -0.1% m/m retail sales

After successfully closing out the AUDUSD short on market open, I later re-entered into a short trade this time holding through the monthly retail sales change release. 

AUDUSD 1-Hour

I moved my stop loss lower just on the upper boundary of a broken potential support zone. Given the downtrend this pair is in, I expect at most this pair will pull back to retest the support turned resistance before making another wave lower from this range break-out lower.

Trade setups I am monitoring as of the moment are as follows:

USDJPY 15-Minute

The USDJPY pair on the 15-minute time-frame marks another potential long entry as the 113.2~ price level marks a fairly strong demand zone to be tested on this retracement right now.

This pair has been bullish on an hourly time frame since mid-April and there is little reason to expect otherwise. This week has no major Bank of Japan releases according to the economic calendar. Nevertheless, this Friday marks several economic releases notably the CPI and retail sales figures. Positive outcomes beating expectations should further contribute to a bullish movement.

Advertisements

A Pip For Your Thought?

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s