Pairs on Watch –
AUDCAD : The main high above has been near missed with a corrective move away, which could be signalling a potential middle section for a move higher. However, we can see a three touch structure which is hard to ignore, therefore I am looking to sell but I will adjust the type of entry I am looking for. A small stack of price once the 1H commits on this structure would confirm what I need, this prevents a tag in and out with the higher timeframe taking over.
EURNZD : We can see on the higher timeframe that we are most likely getting a wick fill on the daily now, so we could play that move into the high and take advantage of the fill. We are getting development on the 1H but I am aware of the internal make-up of the structure, potentially turning into a mini M style. Depending on how the structure continues to build with determine whether I look for a risk entry or not.
GBPUSD & EURUSD : Very similar approach with both of these USD pairs. With how the DXY is looking and making its way down to the next value area low, I will be monitoring these two pairs which are currently sat at value areas they could sell from. If we get the turnaround on the DXY and it starts to head long, I will look for insurance entries on EU and GU, 1H break back in from the highs and a simple 15M continuation for the short.