Note that this is my current view, but if market conditions change my view can change too. Generally I will trade in alignment with what I have noted here, though I will wait for a set-up before I enter. I base my view on technical and fundamental information. This is my beliefs and you are welcome to have opposite ones. Having a plan is more important than the actual direction for me.
The trend is becoming somewhat clearer after a mixed last month or so. I expect USD strength in general, and EUR and CHF weakness in particular. It might be a good time to be operating systems that work well in a bear normal market type, or otherwise accumulating a position long USD.
I was expecting some NZD strength but talking to our signal providers, NZD could be due for a sell off, though perhaps not as quickly as the EUR, JPY and CHF.
There are also a couple of reversal opportunties in the AUD/NZD and the EUR/GBP off weekly support levels.
As a macro currency trader I expect that the long USD trend is only just getting started ( as does 888) and we should see continued buying or USD through-out the year.
- Short GBP/USD (Trend)
- Long USD/JPY (Trend)
- Short AUD/USD (Trend)
- Short EUR/USD (Trend)
- Short NZD/USD (Trend)
- Long USD/CHF (Trend)
- Long AUD/NZD (Reversal)
- Long EUR/GBP (Reversal)
- Long USD/CAD (Trend)
Trend: Market is trending in the direction I have listed and I expect it to continue
Reversal: I am looking for a reversal against the current trend
Breakout: The currency pair is breaking out of a range
About the Author
Sam Eder is a currency trader and author of the Definitive Guide to Developing a Winning Forex Trading System and the Advanced Forex Course for Smart Traders (https://fxrenew.com/forex-course/). He is a key team member at premium FX services provider www.fxww.com and part owner of Forex Signal Provider www.fxrenew.com (You can get a free trial). If you like Sam’s writing you can subscribe to his newsletter for free (https://fxrenew.com/newsletter-sign-up).
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