FX Weekly – 2019 Week 18

Summary:

Finally after few weeks of lull the markets have moved again. Be wary though as the momentum has just started, and so any reversal trades have to be closely watched.

  • EURUSD ►new lows made, and aggressive longs can be taken into any overshot to the downside, but exit fast as the bottom is impossible to pick
  • GBPUSD ► drifting lower in the absence of catalysts, but no medium term opportunities
  • USDJPY ▲ maintain long bias but be careful of stops this week as it is a week-long JPY holiday - that being said, any liquidity-driven spikes can be traded in the opposite direction (mean reversion)
  • USDCHF ► the move up was anticipated, and aggressive shorts can be placed at 1.03 levels
  • AUDUSD ► good and conservative opportunities not available - await formation of bottom
  • USDCAD ▲ look to buy on a small dip this week, but the RRR is not too good as the pair is in the upper range of the channel
  • NZDUSD ► good and conservative opportunities not available

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FX Weekly – 2019 Week 15

There are no good opportunities as of now - the market is a little too quiet. Bias remains the same as per 2 weeks ago.

Only exception is GBP being at support - can be a buy into the week ahead, but this is going against the main trend.

FX Weekly – 2019 Week 13

Summary:

Charts below now show aggressive entries, and stop levels in red

  • EURUSD ►last week's sell would be taken out if a hard SL was set - this week's aggressive entry is long against lows of 1.1170
  • GBPUSD ► opportunity to short, with possible stops indicated in red (see charts below)
  • USDJPY ▲ longs would have been taken out at BE at worst, but this week may be ok to go for a small long position
  • USDCHF ► look to long at trendline support (see chart below)
  • AUDUSD ► good and conservative opportunities not available - await formation of bottom
  • USDCAD ▲ look to sell if prices overextend to the upside
  • NZDUSD ► still in a LT range, so wait for 0.7150 for short opportunities

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FX Weekly – 2019 Week 12

Summary:

  • EURUSD ► a final bottom is unlikely to be in place - the upcoming trendline resistance can be played on both the long and the short side - I will look to sell with stops at 1.1420, but longs can be taken on a definitive break of it
  • GBPUSD ► last week's aggressive buy at 1.30 turned out well - I will now look to short on any overshoots to the upside
  • USDJPY ▲ last week's aggressive long is in the money and conservative traders can move stop up to breakeven or even do a profit-save at 111.0 
  • USDCHF ► prices look poised to breakout, but the RR ratio doesn't look too good for longs - I expect any break higher to be met with good resistance
  • AUDUSD ► good and conservative opportunities not available - await formation of bottom
  • USDCAD ▲ shorts worked out well last week, now take a neutral stance, or buy only when price dips to 1.32
  • NZDUSD ► still in a LT range, so wait for 0.7150 for short opportunities

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FX Weekly – 2019 Week 11

Summary:

  • EURUSD ► now that the Nov 2018 lows of 1.1210 have been breached, be on the lookout for a good buy entry - it is incredibly difficult to call a bottom especially with no obvious support levels - my preference is to wait
  • GBPUSD ► after last week's profit from the shorts, we can now flip to an aggressive buy at current levels of 1.30 for a small bounce this coming week, or wait to trendline support for a more conservative entry
  • USDJPY ▲ channel resistance pushed prices off and now is a good time to add a small long position or simply a shorter term aggressive buy for the week, with stops at 110.30
  • USDCHF ► prices look poised to breakout, but the RR ratio doesn't look too good for longs - I expect any break higher to be met with good resistance
  • AUDUSD ► good and conservative opportunities not available - await formation of bottom
  • USDCAD ▲ similar stance as last week, favour the short side, and now there is a defined stop at 1.3470 
  • NZDUSD ► still in a LT range, so wait for 0.7150 for short opportunities

Continue reading "FX Weekly – 2019 Week 11"