{"id":217727,"date":"2021-08-09T11:52:41","date_gmt":"2021-08-09T10:52:41","guid":{"rendered":"https:\/\/www.forexmentorpro.com\/blog\/?p=217727"},"modified":"2021-09-08T10:14:59","modified_gmt":"2021-09-08T09:14:59","slug":"weekly-analysis-majors-heating-up","status":"publish","type":"post","link":"https:\/\/www.forexmentorpro.com\/blog\/weekly-analysis-majors-heating-up\/","title":{"rendered":"Weekly analysis -Majors heating up."},"content":{"rendered":"

Hi,
\nMarc is away again this week, so I’ll be standing in for him for the analysis and live session on Tuesday.<\/p>\n

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.<\/p>\n

As always be conscious of\u00a0 correlation
\n…and be patient!<\/p>\n

++++++++<\/p>\n

Trade for clients & receive a substantial profit share<\/strong><\/p>\n

If you want to receive a substantial profit share you only need to make 3 to 5% per month. You can find a copy of the brochure here:\u00a0Trade for Clients<\/a><\/p>\n

++++++++++++++<\/b><\/p>\n

The live training session: Here is a link to register for this week\u2019s live training session which takes place on Tuesday 3rd August at 11.00am London time (BST\/GMT+1).<\/i><\/b><\/p>\n

https:\/\/us02web.zoom.us\/webinar\/register\/WN_8N8LmI9VSHy2pt8KKK7uSQ<\/p>\n

Then we can have a more detailed, up-to-the-minute look at what\u2019s happening and potential trades for the rest of the week.<\/b><\/p>\n

+++++++++++<\/b><\/p>\n


\nThe Forex week ahead:<\/b><\/h4>\n

 <\/p>\n

Majors<\/b><\/h4>\n

 <\/p>\n

EUR\/USD:\u00a0 <\/b>Only interested if it moves to a high or low. 1.1650<\/strong> is an \u2018A grade\u2019 long for me. 1.2000 is huge for this pair.<\/p>\n

USD\/CHF:\u00a0<\/b>If it can clearly break above 0.9200<\/strong>, I’d look for pullbacks into this area in order to long.<\/p>\n

GBP\/USD: <\/b>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.<\/p>\n

NZD\/USD: <\/b>Still messy. I’m looking for a break above 0.7050 to look for longs.\u00a0<\/b><\/p>\n

AUD\/USD: <\/b>I’m looking for a clear break below 0.73200 to look for shorts.<\/p>\n

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

USD\/CAD:\u00a0<\/b>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.
\n<\/b><\/p>\n


\nCrosses<\/strong><\/h4>\n

 <\/p>\n

AUD\/NZD:<\/strong><\/b> I’ll be looking to split my entry in two.\u00a0 One at a pullback to 1.06000 and one at 1.06400. See video for more detail.\u00a0<\/b><\/p>\n

EUR\/GBP:<\/strong>\u00a0 Broke & closed below 85.000 which is a major<\/strong> area for this pair. See video for a more detailed explanation. Another A- grade trade is a short back at 0.8660.<\/p>\n

EUR\/CAD: <\/b>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.<\/p>\n

EUR\/NZD:<\/b>\u00a0 I’m looking for a pullback to 1.69000 -multiple reasons for the stop, see video.<\/p>\n

EUR\/JPY:<\/strong> A lot to do to get there but 126.000 for a long
\n
\nGBP\/CAD:\u00a0<\/b>A-grade long for me at 1.73000<\/p>\n

NZD\/CAD: <\/b>I’ll be looking for M2 setups on a break above 88.500<\/p>\n

AUD\/CHF:<\/strong> A-grade trade for me is a short at 68.2000<\/p>\n


\nM3 -Shorter timeframes.\u00a0<\/b><\/h4>\n

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\u2019s 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.<\/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.<\/p>\n

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.<\/p>\n

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\"\"<\/a><\/p>\n

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