Last week was a good week for people who traded our setups and this week we will be looking for more trade opportunities in which we can look to profit from. This week week we will have less Fundamental releases and more speeches from the Fed on updates from the last week's FOMC statement report where the Federal Reserve Chair Powel stated that the USA is not planning to increase interest rates for the next 3 years but instead will focus much on GDP growth.
With the Announcement of GDP growth we are expecting more improvement on the Dollar Index for the upcoming months, we will stick more on buying the dollar on our technical analysis.
Fundamentals
This week we are having a few Fundamental data releases but more speeches.
Wednesday, German Flash Manufacturing PMI (EUR) - We are expecting a bearish EURO because the Previous result and the Forecast is far above the average which indicates a possible selling on the Euro
Technical Analysis
We have a number of setups which one can look forward to trading this week.
GbpUsd
The cable had broke out the bearish trendline and had done a retest which will position price for a further move to the upside, we are currently waiting for the market to push down lower towards the green marked area before we enter on our long positions.
UsdChf
The dollar swiss is currently on a bullish trend and it will be gain more momentum from from the dollar strength.
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XauUsd
Gold has been trading within a trend, Price is currently at the trend support line. we will wait for bullish candle formations before making entry.
EurJpy
The Euro Yen pair has been bullish since the beginning of the Month moving up on an uptrend. with the FOMC announcements the euro lost against the dollar causing the Euro not to perform well against other currencies. The market has broke the up trend and we are currently waiting for a retest and a possible trend continuation.
nasdaq
The Nasdaq has a beautiful inverse Head and Shoulder pattern setup, on the current prices we have a Bullish Engulfing candle setup which is a good buying opportunity on Nasdaq.
We believe these Setups will help your trade more successfully this week, ensure that you signup on our premium group and get our Trading Software Free.
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