currency trading

We've been talking all week long about buying the USDCHF to the support zone, near the bottom of the trend channel, and that zone is down here between 0.9575 and 0.9550. And you might see all week long it's just been bouncing around in this green-shaded area, in the support zone all week long, giving us actually several different opportunities to jump to the trade. Escape with some profit. Return in. Escape with some profit. Giving us multiple opportunities to work this level as a help zone.

Currently in at break even. The current trade that I'm holding right now is at break even. Can't lose on the trade. The current stop loss is placed at the entry price. Sitting with 14 pips roughly at this time on the trade. Definitely would like to see the breakout back above 0.9575 today and the beginnings of a bit of a reversal or at the least a retracement here back higher again for the USDCHF. currency trading

Another trade we've been discussing and have several opportunities this week to enter and get some good profit is selling the EURUSD. Currently not in it. I put, in the overnight hours, a pending sell order at 1.1400 again, and it never managed to get quite high enough to take me in. The last four-hour candle went in the same way high as 1.1393. 1.1393 on the high on the final four-hour candle, so it came within about seven or eight pips of taking me to the trade again and now it's already keep coming back into the 1.1350s again.

So, looking forward to a fresh opportunity here on the EURUSD, but also still concentrating on selling the resistance zone underneath the 1.1400-level for the EURUSD.

Something different we need to mention here real quick is that individuals have significant Canadian news today. We have employment data taken from Canada at 8:30AM, about 35 minutes from the recording of the video. Could dramatically affect this currency pair if it's dramatically deviated from the forecasted numbers. Let's take it on down here to the four-hour timeframe. currency trading

Negative data out of Canada on that news today would probably send this back up. Finding support at the blue zone, back above the yellow zone. Challenge the green zone. And when it breaks above the green zone, we could see some significant rally higher for the USDCAD. If it's positive data, if it's significantly better compared to forecasted number, we could see another challenge all the way back off here to the support lows that we've seen within the last few weeks. You could see those support lows over here. And anything underneath there with a breakout underneath the 1.2920-level could try to find the continuation lower in the direction of the longer-term downtrend that the USDCAD has been doing on positive Canadian data coming up in in regards to a half-hour from now