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No trade
US Session
No. of signal recommendations: 1
End-of-session results: AUD/USD (-30 pips)
Maximum potential: 10 pips
Own P/L: -30 pips
It was still a holiday in UK, but it was business as usual for myself. Looking forward, it should be another interesting week after the US dollar finally staged a strong recovery in last week. There was one short Aussie signal in the US session. After the better-than-expected US home sales data (which came out in our favour), weakness was seen in the euro and sterling pound, but not on the Aussie dollar. I had to take my losses on this odd-performing Aussie pair.
Here is another useful trend analysis tool, which shares a resemblance with my day trading strategy.
Smart Scan Chart Analysis (by Market Club) shows the current downward trend is at a crossroads and has possibly ended for AUD/USD. Look for choppy trading action in the nearterm Very Weak Downtrend with very tight stops.
Based on a pre-defined weighted trend formula for chart analysis, AUDUSD scored -60 on a scale from -100 (strong downtrend) to +100 (strong uptrend):
About this tool, simply fill in symbols like EURUSD, GBPUSD, AUDJPY etc. to receive free everyday analysis. Click Here to Join My Live Forex Trading Sessions!
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