Hi, it’s me. Mar10! Just kidding. It’s March 10th. I thought that we can use a little laughter on tough days like these due to the outbreak. Anyway, we will continue to analyze the charts of the most common pairs today and see what forex trading strategies we should apply.
Although there are no more shocks like the first session of the week, the volatility is still high, you should note to reduce the volume and use the Stop Loss a bit far if trading this time.
The price reacted quite well to the noted support zone 101. For now, if anyone is long, they can continue to hold orders in the short term. The goal will be when the gap is filled. Note, if following the medium-term downtrend is not short sale at this time because the RR is not good and the ability to adjust is very high.
The price cannot overcome resistance 1.15. It is in the overbought state, and the bearish signal has also appeared, so you may want to consider short-term. The target is zone 1.13. Anyone who is trading in an upward trend just formed a few weeks ago should not be impatient. Further price action needs to be observed at this time.
As noted, the gap fills before recovering, so we don't have a short order and also avoid a stop-out. Today things were clearer: the sellers were stronger and the bearish signal appeared. Can consider short-term short-term orders, but the beautiful entry was missed. We may need to wait for a slight bounce to the top before entering the order. The target will be range 1.295 - 1.30.
The price turned down sharply at the zone of 1.377 and created a bearish signal. Short-term short-term orders yesterday can also stop to take profit when the 1.35 zone is tested. Today's session continues to hold the bearish view for this pair. The goal is when the gap is filled.
A rising signal appeared but the momentum did not sustain for long. Sellers quickly overwhelmed again. AU /USD is relatively risky at the moment. Consider avoiding this pair.