Tonight will be key to see if risk on sentiment comes in during the US session and, my main watch will be on AUDUSD which has now moved higher through 0.7222. Currently as I write this the pair is breaking out, I will wait to see how this 4 hour closes before an entry with the stop being at 0.7222. if the risk off sentiment continues I will be looking to get long on Gold, I’ll be looking for price to hold above 1932 on a 4 hour candle. The US index is currently turning and it will be key to see if the move higher continues or if the rally runs out of steam, if so AUDUSD long thesis holds up and I will be ok to hold this postion tonight. I did miss the Gold breakout trade and the AUDUSD is currently quite subdued, I will look to take this as a breakout if price can get through 0.7280 and if the US index continues to fall lower. Gold is a potential buy trade if it can come back down to 19302 otherwise I’ll leave this be as the entry was missed earlier today, risk sentiment seems to of returned back on and I see that offering muted moves in gold unless it can break through 1956.

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By scott.andrews275

Scott Andrews is an Australian based trend and swing trader using the daily, 4 hour and 1 hour time frames. He has previously worked in China as a performance coach for their Winter Olympic Team and runs a YouTube channel as well as remotely trading for a London Prop Firm.

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