Weekly Analysis: Quick or Slow Week Ahead?

On Friday, I posted that I am going to be a contrarian and BUY some stocks, using fundamentals and my M2 strategy! You may think I am crazy, but I explained in the video which stocks I am interested in buying more of and most importantly, why.

I haven’t used all my cash but bought what I can afford to lose. If it dips further, then I have more spare cash to buy more at a bigger discount.

Tuesday is a bank holiday in the US and Canada, and I suspect many folks will be taking a long weekend. So expect the markets to be slow at least for the early partrt of the week. HOWEVER!  With Trump, anything is possible. Unless the government opens back up again .

I also showed you the Nasdaq, SP500, SPY, DAX, etc., all of which bounced off the 55 EMA, which was another reason I was looking to buy stocks. This is why I use the 200- and 55-EMA.

I would recommend you to read Marc Chandler’s article as he summarises the fundamentals around the world in his articles and also tells you what to expect.

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The Forex Week Ahead+++++++++++++++++++++++

Tuesday is a bank holiday in the US and Canada, so expect the markets to have a slow start to the week. In addition, all the US news is shown as Tentative for the week, so much of it is unlikely to be released. So a lot of volatility will be missing, and I expect the forex markets to have a smaller average daily range. Other news to watch out for is the GBP on Tuesday for employment and then GDP on Thursday. AUD have their employment numbers on Thursday as well so maybe those pairs and crosses will give us the movement.

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MAJORS

I am looking for “A” grade trades from weekly & daily charts that I can place the orders and then just walk away. A “B” grade is of interest, but not an A yet.

As ever, I always look for multiple reasons in a trade. The more you have the higher the probability.

EUR/USD: I would prefer a long around 1.1460, but leaving it alone for now. Ashley is looking to short this week, so keep up with him in the forum.

USD/CHF: On the 4hr, 0.8000 looks interesting to long. Watch Ashley in the forum during the week.

Do not take the Euro/$ & Chf at the same time. They are correlated so it’s the same “bet.”

GBP/USD: Not interested for now.

AUD/USD: Very messy, it needs to break the Daily 55 and trendline below, then I will consider a short.

NZDUSD: Far away, but the A-grade short is at 0.58770. Intraday on 4hr, you could look at the 0.5680 area for a short.

USD/CAD: 1.3950 is an A-grade long for me.

USDYEN: I have a forward order at 149.10. Also consider 150 as its a huge psych level, but go on shorter timeframes for entries.

Some are A grades, where I will place forward orders; some pairs have “areas of interest.” I have a lot of similar crosses, so be very careful with the correlation.

Cross Pairs

EURGBP: I have a forward order to long at 0.8715

GBPAUD: Ashley is waiting for a retest to short between 2.04 and 2.03. Strong EMAs in the region. He loves trading these volatile pairs, so watch him in the forum.

GBPNZD: I don’t like this pair, but Ashley pointed out the 2.31 area for a long on 4hr, it does have enough reasons.

AUDCAD: Ranging, leaving alone.

CADJPY: looking to long at 108.10

AUDJPY: Far away, but 97.00 is an interesting area to long.

I have quite a few other “possibles” that I will monitor during the week. I also have some crypto and stock ideas that I share in the previous post and video..

As always, remember correlation! 

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”; we aim to teach you how to trade for yourself.

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

To find out more about our crypto journey, check out the mini-course, and if you want to get involved in what I believe is the next boom, scroll to the bottom of this page to find out more: CLICK HERE

You can watch the full video below, you can read the transcript or view the full screen by clicking the buttons below the video:

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Kind regards,

Marc