I release a Weekly Wrapup & Update every week to all my subscribers on my website. I am re-posting it here but in a limited form due to posting restrictions. I am also splitting this post in parts as it is too long to post in one post. So this is Part 1 of this post. Look for Part 2 & 3. if you have interest in seeing the rest of it. If you want the complete post including more detailed 4HR charts, please go to my website to get it. Weekly Updates are free. As noted on each pairs update, if there is any additional analysis available on it, it will be available on my website.
USDJPY continues to drop post-NFP. Even though the numbers for the NFP were positive, it did not have the expected effect on USDJPY. Instead, it just swung back and forth and ended up right where it was pre-NFP. Those that played the NFP whether short of long got whipsawed and more than likely lost money. In any case, the trend has been and still is intact and still headed down. Though I do think it is nearing its end for this first part of the larger drop anyway. We should soon see some kind of MAJOR retracement take place but still not yet. Read my post-Brexit update recently posted: (F) USDJPY Post-Brexit Analysis: Downtrend Over? (Free post. No Subscription required.)
AUDUSD We closed out SHORT position in this pair prior to the NFP for a loss. But now post- NFP, what I see now is that this pair has still got some more upside to go before we are to see a nice drop occur. In my updated below, you can see I have added a possible triangle to the picture. Should prices respect this triangle, then we will not see much lower prices though we should still see a drop occur. Read my Post-NFP Analysis for more details: (F) AUDUSD: Post-NFP Analysis – Complex Correction Is Still In Progress. But Soon A BIG Opportunity! (Free post. No subscription required.)
USDCAD - A change in my overall outlook from the previous week's chart as you can see below is that I am now putting my triangle scenario as my main working scenario along with its respective wave count. When this triangle has completed, I am still seeing another move higher in the larger wave (B) high enough to fill that POTENTIAL but not nearly as high as I had thought some weeks ago.
Read my recently released post-Brexit FULL Analysis: (F) USDCAD Post-Brexit Analysis: Continuing The Reversal (Free post. No subscription required)
GBPUSD - NFP did little to this pair as with other pairs. It is continuing it's march down and should be making new lows lower than those set by the Brexit before we see any reversal back up. We're SHORT to catch this next wave down. Read my new Post-NFP Analysis on this pair: (B) GBPUSD: Get Ready! It’s About To Shift Into Reverse! (Paid subscription required.)
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
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