I plan my trading for the week ahead each weekend. Here are the Forex trading opportunities I will be stalking this week.
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 and low risk-entry point 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.
- Long GBP/USD (Reversal, market type is sideways)
- Long USD/JPY (Trend)
- Short AUD/USD (Trend)
- Long EUR/USD (Reversal)
- Long NZD/USD (Reversal – Tentatively, market type is sideways)
- Short USD/CHF (Reversal)
- Long NZD/JPY (Trend)
- Long EUR/JPY (Trend)
- Short AUD/NZD (Trend)
- Short EUR/GBP (Trend – Shorter term market type is sideways)
- Long EUR/AUD (Trend)
- Long USD/CAD (Trend)
Trend: Market is trending in the direction I have listed and I expect it to continue
Reversal: I am looking for a reversal against the current trend
Breakout: The currency pair is breaking out of a range
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 (https://fxrenew.com/forex-course/). He is a key team member at premium FX services provider www.fxww.com and part owner of Forex Signal Provider www.fxrenew.com (You can get a free trial). If you like Sam’s writing you can subscribe to his newsletter for free (https://fxrenew.com/newsletter-sign-up).
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