All trading plans for the week are on this page with the most recent one on top.
4539
Today in the main session there was consistent EUR strength and NZD weakness in the market, along with some GBP weakness and CHF strength. Several pairs did move but the movements were intraday movements only and somewhat choppy. Pairs like the EUR/NZD moved up, the NZD/CHF and GBP/CHF moved down. All of these moves were intraday movements on the smaller time frames only, we would exit any of these trades.
4538
The CAD/CHF is forming a trend to the downside on the W1 time frame and the EUR/CAD is forming a trend to the upside on the same W1 time frame. These pairs are somewhat choppy but the potential trends are setting up nicely with good pip potential. We would consider any strong heatmap buy signal on the EUR/CAD or any strong sell signal on the CAD/CHF over the next few days. If the W1 up trend forms on the EUR/CAD this pair has hundreds of pips of potential. EUR/AUD – strong uptrend in place, set buy alarm at 1.5065, upside target is around 1.5400-1.5500. GBP/AUD – strong uptrend in place, set buy alarm at 1.9070, no nearby resistance past there. USD/CAD – strong uptrend in place, set buy alarm at 1.1555, no nearby resistance past there. News drivers for the upcoming main session from the USD can be found on the news calendars.
4537
Today in the main session the JPY was weak on all pairs. The GBP and USD had some strength. This caused movement to the upside on the GBP/JPY and USD/JPY. The GBP/JPY could continue back to the 189.50 area and the USD/JPY could be headed back up to the 121.50 area. The overall trends are up on both pairs.
4536
Many of the JPY pairs have mixed trends, the D1 time frames are pointing down, but the overall trends are still up. The JPY pairs could sell off another day or two, so if the heatmap indicates JPY strength on all of these pairs and you sell one of the JPY pairs, just treat any sells as a short term trade. At some point we expect them to build support cycle back up again. Some of the JPY pairs like the AUD/JPY, CAD/JPY, GBP/JPY and USD/JPY still have some potential on the sell side. The D1 trends could be reversing on several USD pairs. Pairs like the AUD/USD, EUR/USD and GBP/USD could reverse back to the upside on the D1 uptrends, but once again the overall trends are still down, so we would treat any buys on these pairs like short term trades. Other Pairs – The EUR/CAD is trying to reverse back to the upside on the W1 time frame, and the CAD/CHF looks to be reversing down on the W1 time frame, these pairs are choppy but we expect these larger trends to form in the next few days. News drivers for the upcoming main session from the CHF, EUR, CAD, and USD can be found on the news calendars.
4535
Today in the main forex session the CAD was weak and the JPY was strong. The CAD/JPY is dropping and the D1 trend is almost pointing down on this pair, it will likely continue lower another day or two. The NZD/CAD is moving up, this pair is somewhat choppy but it does have upside to about 0.8950 as it looks like it could be cycling on the H4 time frame. News drivers for the upcoming Asian session from the NZD and AUD can be found on the news calendars.
4534
AUD/CHF – strong downtrend in place, set price alarm at 0.8025, next support area starts at 0.7865. EUR/AUD – strong uptrend in place, set price alarm at 1.4965, overall potential up to the 1.5400-1.5500 area. Other Pairs - USD/CAD – strong uptrend in place. We will look to set a buy plan on this pair tomorrow at the 1.1500 breakout area.
4533
Today the market was volatile on many pairs especially the JPY pairs. The USD dropped on all pairs. The AUD and NZD strengthened so the AUD/USD and NZD/USD moved up against their trends, we consider these to be short term moves against their overall trends. There was a lot of JPY strength but these pairs dropped hard and had across the board reversals back to the upside. These pairs could have produced a great profit or stop out because of the volatility. Pairs like the USD/JPY dropped substantially all through the early part of the main session before the reversals. Any stop outs were likely profitable or break even because the drops were so large, but the volatility on the JPY pairs was severe.
4532
AUD/USD – strong downtrend in place, set sell alarm at 0.8250, next support area is around 0.8100. NZD/USD – strong downtrend in place, set sell alarm at 0.7625, next support area is around 0.7500. USD/CAD – strong uptrend in place, set buy alarm at 1.1500, no nearby resistance past there. EUR/AUD – strong uptrend in place, set buy alarm at 1.4900, there are some layers of resistance nearby but the overall potential is up to 1.5400-1.5500 area. GBP/AUD – strong uptrend in place, set a buy alarm at 1.8945, little resistance past there, then this pair breaks out with strong upside potential on the largest time frames. AUD/CHF – strong downtrend in place, set sell alarm at 0.8065, next support area is around 0.7850. Other pairs – GBP/JPY – this pair should consolidate one more day then break past 189.50, we will look to set a buy plan on this pair tomorrow.News drivers for the upcoming main session from the GBP can be found on the news calendars. |