{"id":214923,"date":"2018-05-23T09:21:57","date_gmt":"2018-05-23T08:21:57","guid":{"rendered":"https:\/\/www.forexmentorpro.com\/blog\/?p=214923"},"modified":"2018-09-29T16:35:40","modified_gmt":"2018-09-29T15:35:40","slug":"detailed-forex-analysis-21st-may-2018","status":"publish","type":"post","link":"https:\/\/www.forexmentorpro.com\/blog\/detailed-forex-analysis-21st-may-2018\/","title":{"rendered":"Detailed Forex Analysis 21st May"},"content":{"rendered":"

\"\"Hi, things seemed to return to some kind of normality last week.<\/p>\n

I said in last Sunday’s report that although things had been messy of late, major areas were still key.<\/p>\n

The Gbp\/Aud I spoke about in last Sundays analysis went over 170 pips ( I took 120) and the $\/Yen I showed on Tuesday (and previous weeks) that once price broke and closed above 110.00 on a daily candle close.<\/strong><\/em><\/p>\n

It was an almost textbook M2 trade that went over 100 pips and I am looking to take it again<\/strong><\/em><\/p>\n

The Chinese situation could give a boost to the $USA (might even be gaps at the open) and the Italian situation could weigh heavily on the Euro so a weak versus strong currency?<\/p>\n

***************************<\/p>\n

Last week, once again the guys showed in the live training session trades that were <\/strong><\/em>setting up, that went 100’s of pips, don’t miss out!<\/strong><\/em><\/p>\n

The key to successful trading is how MUCH you win, not how many.<\/em><\/strong><\/h5>\n

**************************************************************************<\/p>\n

The Forex Week Ahead<\/strong><\/em><\/p>\n

There is a ton of news and geopolitical action going on around the world, any or all of which can cause currency prices to move. From Trump & a possible $200 billion Chinese deal, The Iranian & Israeli situation & then Italian politicians who want to write off $250 billion of Euro debt and closer ties to Russia!<\/p>\n

This week sees a lot of speeches and Gbp news. Monday is another European bank holiday and Wednesday is FOMC, so lots of thing to keep your eyes on.<\/p>\n

Forex factory calendar watch<\/a><\/p>\n

Cad: <\/strong>The main areas are still1.3000 and 1.2700 for me. I will also continue to watch intraday the 200ema around 1.2760 for possible longs but its been very choppy. Now more than ever watch oil for clues as to the Canadian $ strength or weakness.<\/p>\n

Final option if it closes below 1.2700 on a daily, then pulls back an M2 short.<\/p>\n

Aud\/Cad:<\/strong> 0.9860 to 9890 is a key area here. I am biased to the downside, so a short will be my first step. If that fails I will look for a break and close above 0.9900 for a potential long BUT 1.000 is HUGE on this pair so I will not be too greedy here.<\/p>\n

Euro\/$<\/strong> 1.200 on a daily candle interesting for a short. or a break and close below 1.17000 will have me looking for an M2 short.<\/p>\n

Watching the Chf more than ever for clues (see the video)<\/p>\n

Chf:<\/strong> There are multiple reasons why 0.9760 looks a great area to long. I don’t trade this pair BUT if the Chf bounces there, then look for the Euro to bounce back down from 1.2000<\/p>\n

Aud: <\/strong>Leaving alone for now, nasty spikes last few weeks<\/p>\n

Aud\/Yen:<\/strong> Interested to short at 86.00 if it pulls back.<\/p>\n

GBP\/$<\/strong> Gave great range trades again last week, longing at 1.3475 and shorting at 1.3600. <\/em><\/p>\n

Unless or until it breaks out fo there, stick with it. If it breaks out short below 1.3400 on a daily candle I will be looking to short on an M2 pullback. If it shoots up then I will place a forward order 1.4000 to short, intraday watch 1.3800<\/em>
\n<\/strong><\/em><\/p>\n

Gbp\/Nzd: 1.8970 is the main area<\/strong> for me to long. Very good risk\/reward ratio. <\/strong>Also watch 1.9740 for a short, half stake.<\/p>\n

Gbp\/Aud: Took last week at the open, made 120 pips. <\/strong>Back at the same area now. More risky. The more times price hits an area, more likely to break. but I will watch. I will not short as too much in the way below<\/strong>
\n<\/strong><\/p>\n

Intraday watch 1.9340 for a possible long.<\/p>\n

Euro\/Gbp:<\/strong> Messy but I suspect the Euro will drop on the Italian situation. Of course, the Gbp may weaken with all its news this week, but 0.8800\/0.8830 is of interest to short<\/p>\n

$\/Yen<\/strong>: Last week did the 110.00 M2 break out pullback to perfection, looking to long there again. Intraday\/market open watching 110.50<\/p>\n

Nzd\/Yen:<\/strong> Interested to short at 78.50<\/p>\n

Nzd\/$<\/strong> Looking to short at 0.7150 for multiple reasons, if that fails 0.7250<\/p>\n

Euro\/Aud: <\/strong><\/p>\n

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 \u201ctipping service\u201d our aim is to teach you how to trade for yourself.<\/p>\n

For more up to the minute, updates do not forget to drop by the forum in Pierre\u2019s corner.<\/p>\n

Watch the video for more detailed explanations of this week\u2019s detailed analysis and trade plan.<\/p>\n

Click on the square button bottom right to watch in full-screen mode<\/p>\n