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Forex Weekly Update 22/01/2017

Forex weekly update – based off of the 1 day charts. I you would like to learn how to trade the Forex market, sign up for  the free course today. Remember to always, always trade with stop losses.

Our goal is not to be 100% correct when timing the markets but to put the odds in our favor with Economic data & Technical analysis.


EUR / AUD – Euro seems to have found support, expect upward movement. Perfect to trade on the shorter term time frames. Overall trend is down, remember to trade with the MAIN trend. For a change in trend wait for a new high to be formed for long term trades.



EURO / CAD – Euro edging higher, some resistance as evident by the candle. Still profit potential but expect a pull back at the resistance line.


EURO / NZD – Support base formed – from a daily perspective would like to see more confirmation. The intraday charts would be best to trade this pattern.


Euro / USD – again resistance up ahead, still some movement to the upside. Anticipate fast, volatile trades on the intraday charts. Long theEURO but anticipate the pullback or stalling at resistance.


I expect the pound to make a come back in the short term, support formed here & I anticipate the resistance level to be reached. Nice to trade the intraday on these charts & moves.


GBP / CAD – long the GBP, I anticipate the GBP to make higher highs with the BREXIT announcement and the overall economy doing well.


GBP/CHF – again anticipate the GBP to go higher, bit of indecision seen by the doji at the resistance level but think we will go through this. Fast trades will occur on the intraday charts.


GBP / NZD – same as above. Support being held, MACD divergence, the announcement, economic data all point to the GBP making & gaining its losses from last year. Be aware of the pull backs at the resistance points. Nice candle formation at the end of this chart.


USD /CHF – short the USD here. I anticipate the 200 to be touched and the candle tells me there is a lot of selling pressure with the USD. Main support line also taken out.



USD / JPY – I anticipate the USD will fail this resistance line & continue to be sold short. We see indecision at the resistance line with the doji.

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