Weekly analysis: Big potential trade at open & big news ahead this week.

by | Sep 20, 2021 | Forex Analysis

Hi everyone,

(Apologies again about the indifferent sound quality, I’m still traveling, but I’ll be home early next week šŸ™‚

The news last week meant mixed results for most of the currencies and the forex markets now seem a little bit ‘all over the show’. My thoughts on the misalignment of the fundamentals paid off and kept me (and hopefully you) out of some potential losing trades last week.

There is some big news again this week, so you will need to be careful again. A big event for the week could very likely be the Canadian election on Monday, but it’s also a bank holiday in Japan on Wednesday (expect a slow Yen day) and asset purchase vote results for the GBP on Thursday. The BIG event for the week will, however, be the FOMC on Wednesday. DO NOT trade a few hours before or after this event -it is crazy time in the forex market.

I also give an update on what I am thinking with Gold and Silver.

Let’s have a look at some potential levels;

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The live training session: Here is a link to register for this weekā€™s live training session which takes place on Tuesday 21 September at 11.00am London time (BST/GMT+1).

https://us02web.zoom.us/webinar/register/WN_Av0jsn1CR4uP3WOK4a4Dxg

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

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The Forex week ahead:


MAJORS

EUR/USD:Ā  1.1670 is still an A- grade long for me. The ema’s have caught up and now offer a tighter potential stop.1.200 is the area for swing traders to consider a short.

USD/CHF: Broke out of the triangle, looking for a pullback to around 92.00 for a long.

GBP/USD: Pound too messy for me at the moment and made worse with all the news this week. Will relook this next week.

NZD/USD: Stuck between ema’s now. Too messy for me. Far better setup on the AUD/USD

AUD/USD: Fundamentals have caught up. 75.00 is massive for this pair. I want to get in on this trade from about where it currently is to short. I’m having a look at this pair at the open.

USD/JPY: 108.500 is the A-grade area for a long for me.

USD/CAD: Really messy. 1.3000 is the area on this pair to watch.


CROSSES

AUD/NZD: 1.0620 is a BIG area for a potential M2 pullback, short. Be patient!

EUR/GBP: Still very patiently waiting for a pullback to 0.8650 on this pair.

EUR/NZD:Ā  Too messy for me now.

GBP/AUD: Interested to long at 85.70 as it’s a big area, but the stop is an issue. Might be an opportunity to have a look at this pair on the Earth & Sky system or shorter time frames.

GBP/CAD: Looking at 1.7590 for a short and 1.7290 for an A-grade long.

EUR/NZD: Too messy. Better setups this week.

GBP/NZD: I’m looking for a brake above the ema’s on a weekly and then a pullback to long (see video)

 

As always, remember correlation!

 


M3 -Shorter timeframes.Ā 

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 Pierreā€™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 ā€œtipping serviceā€ 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. Ashley is back from his travels and there are other senior members who are happy to help.

 

Watch the video below for more detailed explanations of this weekā€™s analysis and trade plan:

Related posts:

Weekly analysis: 1 Trade -180 pips + avoiding losses. Marcs Weekly Analysis – Major News Ahead! Weekly analysis: A-grade setups but Caution rules the week Marcs Weekly Analysis + How To Trade Around News!

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