On EURUSD we have downtrend since 1.1100, for next week will keep our bias and looking to buy.
With an entry around 1.0824, with a target of 1.0900 and 50 pip stop loss. Risk is below 1% of account equity
EURO we had positive PMI coming out of germany on Friday but no real move.
USD released some negative PMI news and USD weakened....
Fundamentally: We have risk in the global growth, turning USD higher and USOIL lower. BOC has a bearish view of CAD economy
Technically: We have USD still going strong, USOIL in a bearish trend. This is also reflected in the bullish trend in USDCAD. If you want to trade USDCAD, look for pullbacks
Fundamental analysis: We have risk of economic slowdown because of Corona-virus in China. China has asked businesses to temp close, consumers not allowed to be out and normal economic activity is not at normal conditions. Chinas demand for oil has reduced turning the oil down. Opec is looking into cutting 500k to 1mill production, with a price of $50 it's...
EURUSD is an bearish trend, with a strong pullback to sell for February.
Fundamentally: We have risk of economic slowdown because of Corona-virus in China. China has asked businesses to temp close, consumers not allowed to be out and normal economic activity is not at normal conditions. This makes the market sell the EURO as they depend on CHina and market...
My bias for Gold February was to sell off 1598 from with a target of 1505.
This weeks target is 1537 and the ultimate target of 1505 for the month of February.
We have made a new low and now we are making a lower high. Overall trend is bullish, adding risk to the idea
Use stop losses, never more than 1% of your equity
NZDUSD has broken the decending channel it has been in since July last year.
50MA has crossed over 200MA to the upside, will see a NZDUSD going up?
I thought i might breakout earlier this week but it failed. I have seen many selling NZDUSD but i seem to be right in the end.
High impact news for the coming week
Tuesday, July 18, 2017
NZD Consumer Prices Index...
USDJPY could be right now in a rising wedge where it got rejected the second time. The price could end up at the bottom of the wedge before continuing higher.
This is because the price was stopped at around 114.500 where it created an inverted hammer and then a quiet strong bearish candle. This show me that the bears have taken control and will continue to push...
Finally AUDNZD broke out of the range. It really took time but for sure it's a good thing in the end
AUDNZD has been resting at a major support zone for a while where it has not been able to go lower and the "only" way would be up.
AUDNZD is currently in a range and it has just visited the lower parts of it.
I will look for pullbacks to trade this pair
AUDJPY is up again visiting a critical zone where the next move can change the direction of the price or just continue higher.
I would like to watch this trade closely, either to look for pullbacks to sell or go long if the sell is stopped out.
The price is in a rising wedge so a breakout to the upside might happen this time or next time it goes up to current...
AUDCHF Has really rallied up to test the trendline going back to 2015.
AUDCHF made a new low last week and just continued up after that, creating higher lows and higher highs. I believe we will see some correction or rejection for next week before continuing up, maybe all the way up to the weekly 200MA. If the price continues lower than bias will change.