Weekly analysis: Tradable week ahead

Hi all,

Last week was tough as it was to be expected because we had a lot of news affecting all major currencies. If you managed to make some pips well done. It goes to show you have done something right and managed your trades properly.

I only managed to make some profit on the NZDCD which I shared in the forum when I took it. You can watch the full video on how I managed it around the news below:

If you need help understanding fundamentals or an outlook for the week ahead, I would suggest to follow Marc Chandler and start reading his article. He is very good.

Here is his latest article for the week ahead.

Week Ahead: Enthusiasm for the Dollar Rekindled

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

The week ahead is much lighter in terms of news. Most of the news is US related so you would have to be careful with majors. More importantly if you get in a trade make sure to manage it accordingly. Reducing your risk whenever you can is a habit of professional trader.

I would avoid trading friday as it is a public holiday around the world so the volatility is going to be low. Best to close all trades by Thursday evening as we will be heading into Easter Monday which is another bank holiday around the world.

++++++++++++++++++

MAJORS

The $index is still in a daily downtrend for me unless or until it breaks the current zone of 78.6% fib and emas.

Remember 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 one that I will watch on 4 hour timeframes to see how it reacts if it hits my zone.

EUR/USD: Stopped at the Weekly 55 MA. Would prefer a break below 1.08 on Daily for a short.

USD/CHF: Broke above the EMAs, looks good for a long at 0.89200

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

GBP/USD: I have a long order at 1.25350 and a short near 1.26800 on 4HR.

AUD/USD: Leaving alone for now as risk reward not great because of Daily trendline.

NZDUSD: Short on the pullback at 0.60950

USD/CAD: Although it looks good for long I will leave it alone as it’s been very messy lately.

CROSSES

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

EURGBP: I am waiting for the pullback, was only shy 10 pips this week. Looking to short at 0.8610

EURCAD: I would look to short in current area at 1.4700 as it has closed inside the range again.

AUDJPY: I would try to long in current area at 98.600 as that is a break above the previous highs.

CADJPY: Same scenario here but better as the 55 Daily MA is there for a stop. Watch 110.500 for a long.

EURNZD: I would long at 1.77420 for multiple reasons.

NZDCAD: worked perfectly this week. Would short again at 0.82300

I have quite a few other “possibles” that I will monitor during the week. See the video. I also show areas I will look to buy metals on pullbacks and crypto and miners.

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 (click the 4 arrows bottom right to view full-screen):

Kind regards, Marc

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