idea for a rebounding USD

2020-03-09 01:23:57

Many traders have some difficulties to identify clear trends for some forex pairs in higher timeframes at the moment. I can say that at the moment I see at least three trade ideas, which I have definitely on my watchlist related to my higher timeframe strategy.
If price stops at the key levels which I have identified in the last week and price also shows some signs of reversal momentum, I will definitely enter the market and put some chips on the table. But before we start please keep in mind that you look after your risk management.

As you can see these ideas will only work out, if we see the USD strengthen again in the upcoming week. Watch the fundamentals and news in the new trading week to identify strength or weakness in the USD.

AUDUSD & NZDUSD Short
- I would recommend you to only take one of these pairs to enter a possible trade, cause the general price movement and idea is basically the same.
- Price just stopped recently in front of the 20EMA in the D1 chart. Moreover, price stays at the moment also underneath the 200EMA in the H4 timeframe.
- A signal for me to enter a trade here would be if the price is able to break the trendline which you can see on the picture. Additional to that you have to watch if we see some bearish momentum comes into the pair with the MACD indicator.

Find the full article and more on lukas-kuemmerle.com