Hi,
Marc is away again this week, so I’ll be standing in for him for the analysis and live session on Tuesday.

There was positive new out of the USA on Friday with the Non-Farms and so we saw some big moves on the majors. I have been mentioning for a few weeks that the dollar needed some form of catalyst for a bigger move …have we got it now? The dollar index chart (DXY) also seems to have broken out of a small range that had formed and I suspect we might see a continued move up.

As always be conscious of  correlation
…and be patient!

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The live training session: Here is a link to register for this week’s live training session which takes place on Tuesday 3rd August at 11.00am London time (BST/GMT+1).

https://us02web.zoom.us/webinar/register/WN_8N8LmI9VSHy2pt8KKK7uSQ

Then we can have a more detailed, up-to-the-minute look at what’s happening and potential trades for the rest of the week.

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The Forex week ahead:

 

Majors

 

EUR/USD:  Only interested if it moves to a high or low. 1.1650 is an ‘A grade’ long for me. 1.2000 is huge for this pair.

USD/CHF: If it can clearly break above 0.9200, I’d look for pullbacks into this area in order to long.

GBP/USD: Still stuck n a range. I’m looking for a clear break above 1.4000 (which is huge for this pair) to look for longs. Swing traders will be looking to short at 1.3990.

NZD/USD: Still messy. I’m looking for a break above 0.7050 to look for longs. 

AUD/USD: I’m looking for a clear break below 0.73200 to look for shorts.

USD/JPY: 108.400 is an A-grade long for me. Those trading shorter time frames could look for trades between 110.000 & 111.000

USD/CAD: Too messy for me at the moment. 1.3000 is the area on this pair to watch. There might be some opportunities for those that trade the M3 system.


Crosses

 

AUD/NZD: I’ll be looking to split my entry in two.  One at a pullback to 1.06000 and one at 1.06400. See video for more detail. 

EUR/GBP:  Broke & closed below 85.000 which is a major area for this pair. See video for a more detailed explanation. Another A- grade trade is a short back at 0.8660.

EUR/CAD: Opportunities for those trading shorter time frames. I’ll be looking for M2 setups on a break below 1.47600 or long opportunities on a break above 1.50500.

EUR/NZD:  I’m looking for a pullback to 1.69000 -multiple reasons for the stop, see video.

EUR/JPY: A lot to do to get there but 126.000 for a long

GBP/CAD: 
A-grade long for me at 1.73000

NZD/CAD: I’ll be looking for M2 setups on a break above 88.500

AUD/CHF: A-grade trade for me is a short at 68.2000


M3 -Shorter timeframes. 

See the new course & recent blog posts as to how I do this: I do my analysis on daily and weekly charts first and make a note of the MAJOR areas of support and resistance. Then copy them onto Pierre’s Earth and sky template. Then I make a note of the weekly & monthly pivots points and add them to the charts. You will see lots of opportunities line up during the week. The important thing then is to select a bias for the next few days and do NOT take trades if the price is too near a trend line or pivot. Ideally, you want to buy when the price is near a major support and or pivot point line and has the potential to make at least 40 pips. Vice versa for a short.

New members, please note: If I am looking to take a trade long, for example, 1.5000, I place my order 10 pips above & 10 pips below for a short. This is because price often does not quite reach a major line and you need to allow for spreads.

We are NOT a “tipping service” our aim is to teach you how to trade for yourself.

For more up to the minute, updates do not forget to drop by the forum.

 

Watch the video below for more detailed explanations of this week’s analysis and trade plan:

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