Forex Trading Opportunities for the Week Ahead 20 May 18

19th May 2019 Off By binary
Forex Trading Opportunities for the Week Ahead 20 May 18
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Note that this is my current view, but if market conditions change my view can change too. Generally I will trade in alignment with what I have noted here, though I will wait for a set-up before I enter. I base my view on technical and fundamental information. This is my beliefs and you are welcome to have opposite ones. Having a plan is more important than the actual direction for me. 

Today’s report is abbreviated as I’m on holiday. Additionally, there will be no video this week. Normal service will resume next week. 

  • Wait DXY.  – MT is sideways normal. Importantly, we are back above the key 97.70 level.
  • Sell GBP/USD. – MT is bear normal. The downtrend is strong, there may be a little resistance at 1.27.
  • Wait USD/JPY. – MT is bear normal. While we remain in the bear MT, there is a bullish reversal off support at 109.60.
  • Sell AUD/USD. –  MT is bear normal. Not much resistance until 0.68. Rate cut highly likely next month.
  • Sell EUR/USD. –  MT is bear normal. The bear MT is intact and the currency is trading below the key 1.12 figure.
  • Sell NZD/USD. –  MT is bear normal. There is not much in the way of support until 0.6450.
  • Wait USD/CHF.  – MT bear normal. Price action is mixed. Best to wait.
  • Wait USD/CAD. – MT is sideways quiet. CAD is out-performing along with USD.
  • Buy EUR/GBP.  – MT is bull normal. I prefer to sell EURUSD instead.

Crosses

  • Sell EUR/CHF. – MT is bear normal.
  • Sell AUD/JPY.  – MT is bear normal.
  • Sell NZD/JPY. – MT is bear normal.
  • Sell GBP/JPY. – MT is bear normal.
  • Sell EUR/JPY. – MT is bear normal.
  • Sell CAD/JPY. – MT is bear normal.
  • Sell CHF/JPY.  – MT is bear normal.
  • Wait GBP/NZD. – MT is sideways normal.
  • Buy EUR/NZD. – MT is bull normal.
  • Wait AUD/NZD. – MT is sideways normal.
  • Buy EUR/AUD.  – MT is bull normal.
  • Buy GBP/AUD. – MT is bull normal.
  • Sell AUD/CAD. – MT is bear normal.
  • Sell GBP/CAD. –  MT is bear normal.
  • Wait EUR/CAD. – MT is sideways quiet.
  • Sell NZD/CAD. – MT is bear normal.
  • Sell GBP/CHF. – MT is bear normal.
  • Sell CAD/CHF.  – MT is bear normal.
  • Sell NZD/CHF.   MT is bear normal.
  • Sell AUD/CHF.  MT is bear normal.

Other Markets

  • Wait Gold. – MT is sideways quiet.
  • Wait Oil. – MT is sideways normal.
  • Wait S&P 500.  – MT is sideways quiet.
  • Wait DAX. – MT is sideways normal.
  • Sell Nikkei. – MT is bear normal.
  • Wait T-Notes. – MT is bull normal.

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Economic calendar for the week ahead:

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(MT = Market Type: Click for more information on market types.)

About the Author

Sam Eder is a currency trader and author of the Definitive Guide to Developing a Winning Forex Trading System and the Advanced Forex Course for Smart Traders (get free access). He is the owner of  www.fxrenew.com a provider of Forex signals from ex-bank and hedge fund traders (get a free trial). If you like Sam’s writing you can subscribe to his newsletter.

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