Hey there lovelies, **Disclaimer: Please note I am not a FOREX financial adviser/specialist and will not be held accountable for any loss/gain by any individuals who chose to use this information for their own personal gain. Everything discussed in this blog is just for my own personal and financial improvement. ** Here is my analysis on several #forex currency pairs for this week. This week I will be concentrating on pairs with both bullish and bearish trend trading opportunities. This week trade pairs cautiously with proper risk:reward ratio until a clearer trend pattern can be defined, if it hasn't already. Expected high volatility going into next week's session and manage trades wisely, #usd (durable goods and home sales), #eur (Grexit decision, PMI, and climate). Also, remember to have a trading plan and to trade that plan (i.e reasons for an entry and most important an exit). If you miss an opportunity, DO NOT chase the dragon it will always in one way or another be a losing battle for you. As always, remember the trend is your friend until it bends :-) Food for thought:FYI...If you haven't already noticed that there are some basket trades in the market that have been working VERY well right now.... When given an opportunity you may want to take advantage of multiple trades that are moving in sync with each other. Long basket: #gbpusd#eurusd#audusd. Short basket: #usdjpy#usdchf#usdcad. Totaling 500+ pips weekly combined easy. The hard part is riding the basket wave into completion (or trend reversal) ;-) **Currency Basket Trading video** ---->>
1) #EUR/USD (Daily) - Last week, this girl experienced A LOT of volatility due to the uncertainty with Greece and the recent FMOC report, yet she still managed to make a higher high of 1.1440. This week, expect a re-tracement of 50-150 pips and a possible test of the 1.15 level. Although #eurusd is still in a strong downtrend on a weekly & monthly time frame a much needed short reversal may be looming if the 1.1550 level is conquered with a full body candle. Be sure to use proper money management with this pair with rational risk:reward pending the #Greece deal at the end of the month. If given a bullish opportunity plan to go long (buy) at the (1.13-1.12) range toward the 1.15 and/or above. If the pair can exceed the 1.1550 level, it is highly probable that an uptrend reversal will continue towards the resistance level of 1.2 and/or above. Depending on your position, expect at least 300+ pips on this emotional roller coaster for this week. Market moving news: Greece Makes Deal With Russia
2) #EUR/JPY (Daily) - Due the swift re-tracement at the 38.2% Fibonacci level, do not expect this sugar, spice gal to come down from her high or lose momentum any time soon. This week expect a possible re-tracement of 50-100 pips from #eurjpy current position. If given a bullish opportunity around (138.4-138) plan to go long (buy) on this pair back up towards the 141+ range. Expect at least 300+ pips on this sweet ride for this week.
3) #USDJPY (Daily) - Last week the bears dominated the market producing a weekly low of 122.71, but the bulls refused to go down without a fight preventing a lower low from the previous week which happen to be at 122.42. If given a bearish opportunity, plan to short (sell) this pair around (123.7-123.0) towards future support levels (122, 118.5, & 115.7) and cancel/replace as needed. If this big girl manages to fall below her inner uptrend line (around 116-115.50) hold fast because her glass house is about to break and you won't want to miss the action she's got in store for you. Depending on your entry expect to coast this icy slope for at least 200+ pips this week.
4) #GBPUSD (Daily) - Last week, this girl managed to close above her previous B resistance level at 1.5888. This week she may retrace 50-150 pips before continuing her bullish ride. If given a bullish opportunity at (1.58-1.57) take a long (buy) entry on this pair back up towards 1.6 and/or above range towards her projected 1.66 D extension. Expect at least 300+ pips profit from this feisty gal this week.
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