FX Renew End of Day Signals Order Sheet 8 July 19

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FX Renew End of Day signals are trades based off our Weekly Trading Opportunities Report. Entry orders are set and trades are managed once a day in the hour after the US market closes, though there may be the odd time the trade needs management intra-day depending on the market. You will receive a more detailed update once a week containing strategy notes or a shorter update during the trading week if anything is required to be done with a live trade. 

Trade Management Updates

In this section we let you know any updates to existing or closed positions.

NO UPDATES TODAY

New Signals

If there are any new trades you need to place you will find them here.

Here is a brief user guide.

  • Put an order to close 25% of your position on each profit target. If any of the targets say “trail” then don’t add a target as we are letting this portion run.
  • Entry orders on Tuesday to Friday are “market orders”. Orders on Monday are “stop” orders
  • You can view current trades in the Signals Matrix

NO NEW SIGNALS TODAY

Strategy Notes

Strategy notes outline what we are looking to trade and why. For further analysis of the technical and fundamental picture you can read the weekly report or watch the weekly video. 

Brief Summary

There will be no full update this week. Unfortunately, I injured my neck at JuJitsu, so I’m trying to stay away from spending too much time on the computer for these few days.

The USD remains in the long-term sideways market type. We look to be in a bullish phase within this market type. Despite the Federal Reserve shifting to a more dovish stance, data remains supportive of the USD bull case. A reestablishment of trade talks between the US and China has been positive for the USD. Meanwhile, the counterpart countries are struggling, perhaps with the exception of Canada. The ECB remains very dovish and data out of the Eurozone is tepid. While the Bank of England may well raise rates next, Brexit concerns hang over the UK. Both Australia and New Zealand are susceptible to a slowing China and both central banks have been cutting rates.

We continue to hold our short AUDUSD position. I like to sell EURUSD, but not from current levels. Ideally, we will see a return to around 1.15 which will provide the opportunity to sell. USDCAD presents a selling opportunity on the pull-back. Yield differentials, good data and a rising Oil price all favor a stronger Canadian Dollar. USDCHF does present a good risk/reward selling opportunity, but only if stocks fall too (they are currently near the high).

The report will be back to normal service next week.

Cheers,

Sam

A Note on the General Approach

The objective of the signals is to capture long-terms moves in the market. We use big picture technical and fundamental analysis to determine opportunities that have a superior risk/reward opportunity. We then stalk entry points where we can have a relatively tight stop. Once we are in a trade we look to add to the position in the early part of the move. We will take profit when conditions suggest, while holding a core position to our target. The goal is for the winners to be much greater in terms of R-multiple than the losers.

 

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