I plan my trading for the week ahead each weekend. Here are the Forex trading opportunities I will bestalking this week.
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.
I am a little caught up this weekend so the report is abbreviated and there will be no video.
- Buy DXY Trend – MT is bull normal. Continue to buy.
- Sell GBP/USD. Breakout – MT is bear normal. Sell below 1.30.
- Buy USD/JPY. Trend – MT is bull normal. Careful as we are at resistance.
- Sell AUD/USD. Trend – MT is bear normal. Bearish engulfing resumes the downtrend.
- Sell EUR/USD. Trend – MT is bear normal. Continue to sell.
- Sell NZD/USD. Trend – MT is bear normal. Friday’s hammer suggestive of some more downside.
- Buy USD/CHF. Trend – MT is bull normal. Continue to buy.
- Buy USD/CAD. Trend – MT is bull normal. Continue to buy.
- Wait EUR/GBP. – MT is sideways normal. Wait.
Crosses
- Buy EUR/CHF. Trend – MT is bull normal.
- Sell AUD/JPY. Trend – MT is bear normal.
- Sell NZD/JPY. Trend – MT is bear normal. Continue to sell.
- Wait GBP/JPY. – MT is sideways normal. Wait.
- Wait EUR/JPY. – MT is sideways normal.
- Sell CAD/JPY. Trend – MT is bear normal.
- Sell CHF/JPY. Trend – MT is bear normal. Look to sell.
- Wait GBP/NZD. – MT is bull volatile. Wait.
- Buy EUR/NZD. Trend – MT is bull normal. Be careful, low conviction.
- Wait AUD/NZD. – MT is bull volatile. Wait.
- Wait EUR/AUD. – MT is sideways normal. Wait.
- Wait GBP/AUD. – MT is sideways normal. Wait.
- Wait AUD/CAD. – MT is sideways normal. Wait.
- Wait GBP/CAD. – MT is bull volatile. Wait.
- Wait EUR/CAD. – MT is bull volatile. Wait.
- Sell NZD/CAD. Trend – MT is bear normal. Look to sell.
- Buy GBP/CHF. Trend – MT is bull normal. Continue to buy.
- Wait CAD/CHF. – MT is sideways quiet. Wait.
- Wait NZD/CHF. – MT is sideways volatile. Wait.
- Wait AUD/CHF. – MT is sideways normal. Wait.
Other Markets
- USDSGD – MT is sideways normal. Wait.
- USDCNY – MT is sideways normal. Wait.
- Wait Gold. – MT is sideways normal. Wait.
- Wait Copper. – MT is sideways quiet. Wait.
- Buy Oil. Trend – MT is bull normal. Look to buy.
- Buy S&P 500. Trend – MT is bull normal. Continue to buy.
- Buy DAX. Trend – MT is bull normal. Continue to buy.
- Buy Nikkei. Trend – MT is bull normal. Continue to buy.
- Wait T-Notes. – MT is bear volatile. Wait.
View bank reports and fundamental analysis in the chatroom (members only)
Economic calendar for the week ahead:
(MT = Market Type: Click for more information on market types.)
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 (get free access). He is the owner of www.fxrenew.com a provider of Forex signals from ex-bank and hedge fund traders (get a free trial). If you like Sam’s writing you can subscribe to his newsletter.