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. 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 :-)
Market moving news for #USD & #AUD: China Devalue Yuan
1) #AUD/JPY (Daily) - Due the financial uncertainty of China this ol' gal maybe setting up for a significant drop in the near future and is worth keeping on your radar for an amazing short opportunity. If given a bearish opportunity between (94.0-92.3) plan to go short (sell) on this pair back down towards the 86.7-86.0 and/or below. Expect at least 200+ pips on this sweet ride for this week.
2) #EURAUD(Daily) - Last week, this girl gave overturned her bearish waltz with some very strong hawkish movement in the beginning of the week but was rejected for the 2nd time within 3 weeks around the 1.53 level, mainly due to China devaluing its currency. This week trade this girl cautiously as she may or may not continue last week's bullish movement since the weekly 38.2% Fib level may still be in play around the 1.467 level. If given a bullish opportunity at (1.49-1.48) take a long (buy) entry on this pair back up towards 1.526 and/or above range, but be mindful of the 1.479-47 as a management point in case there is continued downward movement through the 38.2% Fibonacci level . If given a bearish opportunity at (1.53-1.525) take a short (sell) entry on this pair back down towards 1.48 and/or below range. Depending on your position, expect at least 300+ pips profit from this feisty gal this week.
3) #GBPAUD (Daily) - Last week this pretty girl was rejected for the 3rd week in a row near the 2.15 handle, which may or may not be an indicator for lower movement before any real upward movement. If given a long (buy) opportunity between 2.10-2.09 plan to go long towards 2.14. If the pair fails to make a new weekly high plan to take a beautiful short (sell) opportunity towards 2.09 and/or below possibly all the way to the 2.03 handle in the future. Expect at least 200+ pips out of this spice girl.
Xoxo, Deuces :-*
.png){kind=link}
