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. **
This week, I will be concentrating on pairs with both bullish and bearish trend trading opportunities. This week trade cautiously pending the following reports for multiple currencies: ANZ confidence, trade balance, ECB conference, Stevens, Carney, and Yellen speeches, NFP and unemployment. 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 :-)
1) #EURAUD(Daily) - Last week, this hot mama continued to live life in the fast lane making a new weekly low, but is starting to feel the pressure of the red light district and may be looking for a change of scenery with her Prince Charming, Doji. Will this union last? Only time shall time or maybe the ECB will, so trade this posh gal with caution. 1) If given a bullish opportunity at (1.474-1.468) take a long (buy) entry on this pair back up towards 1.5-1.52 and/or above. 2) If the 1.52 resistance range is not conquered plan to short (sell) this girl back down towards 1.46 and/or lower. Depending on your position, expect at least 300+ pips profit from this feisty gal this week.
2) #GBPAUD (Daily) - Last week this precious beauty continued making new weekly lows, but is starting to show signs of bearish indecision with a bearish spinning top. If given a bullish opportunity between 2.095-2.083 go long (buy) towards 2.12-2.14 and/or above. Expect at least 300+ pips out of this spice girl.
3)#EURNZD (Daily) - Last week this weary girl made a new weekly low, but with a doji indicating a possible reversal. Although, she is still teetering within a range of consolidation between 1.61-1.66; so trade her carefully. I will offer two strategies for this black widow. 1) If given a long (buy) opportunity this week between 0.735-0.72 plan to go long towards 1.64 and/or above (keeping your profit stop loss tight the closer you get to 1.66). 2) If the 1.65-66 resistance range is not conquered in the near future plan to short (sell) this girl between 1.65-66 back down towards 1.61 and/or lower especially if the 1.6060 support level does not hold. Expect at least 200+ pips out of this spice girl.
Xoxo, Deuces :-*
