A Profitable Trading Week Using Our Tables
Fri 18th August 2023 : Daily Currency Strength Analysis
Today we’re looking at Trading Setups in:
- NZDUSD (Primary Focus Pair)
- AUDUSD (Covered In Video)
- AUDCHF (Covered In Video)
Our Interest (pending order)/Open Interest (live position)
| NZDUSD (Sell Stop) | Price | Pips +/- | R/R (Max/Min) |
|---|---|---|---|
| Entry Price | 0.5926 | ||
| Stop Loss (Min) | 0.5970 | – 44 Pips | |
| Stop Loss (Max) | |||
| Profit 1 | 0.5850 | +70 Pips | 1 : 1.73 |
| Profit 2 |
Risk warning: Trading carries a high degree of risk. Read more here.
We’ve had a very profitable trading week using the Our Strength V’s Weak Trading Tables to guide our focus to this week’s key markets.
AUD & NZD have continued to be the weakest currencies throughout the week offering us key trading opportunities on AUDCHF, GBPNZD and more.
NZDUSD is now in focus for us as it remains in a downward trend.
Watching the H1 chart we can see the price is rejecting the 50 moving average, and as long as price stays below this, we could expect price to continue lower.
If NZDUSD does trade lower sellers could target key support of 0.5850.
Technical Observations:
- NZD is W2 and USD is S2 on the day traders table.
- Price is trading below the H1 50 MA.
- Higher time frame trend is bearish.
Todays 9am (BST) Forex Strength Vs Weakness Tables:
