Friday’s session may be quite volatile, due to the US jobs report publication at 14:30 (CET). We should be careful, but still there are few interesting trading opportunities. Let’s start:
AUD/NZD
Inside Bar setup occurred at AUD/NZD cross. Here we can see three possible scenarios:
- Breaking below and closing under the mother candle (its range was marked in green). Then we will be able to put sell limit order at 50% retracement.
- Breaking below and retracement to previous range of mother candle and closing inside its length. Then we will be able to open long positions
- Breaking above and closing higher then mother candle. It will be a buy signal (buy limit order at 50% retracement).
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EUR/USD
Euro to USD dollar fights with the resistance and we still do not know how price will behave. After NFP readings the situation should be more transparent.
GBP/USD
Short position on Cable. Yesterday we saw an upward correction and I was able to sell with 80 pips SL. Take Profit level is 300 pips higher, so the risk-reward ratio is correct.
NZD/USD
Another open position at Kiwi – a long one. The signal candle take a shape of pin bar (H4 chart). I put my SL 40 pips lower, and take profit 280 pips higher.