EURGBP forex outlook

Weekly Forex Outlook: September 9

Morning traders, how’s the weekend going? Last week, I was on a short break due to travel (back to Japan) but I did follow the market. It was a slightly challenging week for reversal traders so I apparently chose this travel week well! 🙂

 

But now that I’m back in Tokyo, I’m back on the charts and preparing my weekly watch lists in the weekend. We have some interesting potential setups for the upcoming week, keep on reading to know which ones!

 

 

However, you’ll notice that all of the setups for this week are daily setups. While I’m thinking there are some good opportunities in the market for next week, there still is a lot of ranging behaviour in many pairs due to things like the hurricanes and geopolitical uncertainty, which makes for less than optimal lower time frame reversal setups.

 

So instead of forcing setups, we just stay on the daily charts for this week.

 

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XAUAUD

Weekly Forex Outlook: August 12

Bonjour, mes amis! 🇫🇷 I’m in Paris, France right now, as I had a spur of the moment idea to spend a week or so in the French capital. Had a good trading week? This was an absolutely epic week for trading, as we finally saw the VIX move back up and many setups worked out very nicely. Let’s go over them right now!

 

On the contrary to what I said last week, gold actually shot up. This is totally due to Trump’s comments about North Korea, which catapults the world’s financial markets into risk-off mode. This means gold and the yen shoot up, which is what happened. Oil, on the other hand, was ranging for the most part of the week but did eventually go down. It is currently retesting the support-turned-resistance zone it broke on Friday and I reckon it’s still an excellent setup to take next week if it goes down again.

 

USDWTI

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GBPNZD

Weekly Forex Outlook: July 15

What’s up crew? Another week has passed and we had some big movers! I’ve been a bit quieter this week since I’m working on refining one of the strategies I trade. This means a lot of programming, a lot of Excel and just general data crunching and testing. It’s relatively boring work and takes a long time, but it’s exactly this kind of work that pays off in the end.

 

For reversal trading, we had a couple of beautiful trading opportunities. A couple of nice examples are a CHFJPY 4H short after a break of the trendline and a short reversal on USDJPY 4H (see the chart shot below). At the same time, a lot of setups seemed to be at the edge of reversing but then continued. Many market moves were driven by a couple of bigger news events. We’ll go over a few of the big themes that drove the markets in a moment.

 

USDJPY review

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EURCAD Forex outlook

Weekly Forex Outlook: June 10

Hi traders, how’s the weekend going? I hope you had a good trading week! It certainly was an eventful week, with the UK elections as the main event on Thursday in addition to ECB meetings and a Senate hearing of ex-FBI director James Comey. These events made sure that it was a rather short week for me, without any trading on Thursday and Friday.

 

It was a relatively quiet week for setups as well. I only took two trades: the AUDNZD 4H long and the CHFJPY 1H short. The former had to be cut quickly since it didn’t really work out as planned (I suspect due to a very strong New Zealand dollar) but the latter worked out beautifully. I’m going to review the CHFJPY trade in a moment.

 

If you want to keep up to date on setups during the week, have a look at my TradingView page. During the week, I will often publish a chart setup over there as well if I think it’s worth looking at.

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AUDCHF forex outlook

Weekly Forex Outlook: May 14

Good morning traders! Another trading week has passed and now is the time to look at the opportunities for the upcoming week. My reversal system had a bit of a hard time this week, with a lot of really nice reversal setups without follow through. I’ve had 4 trades that I basically had to cut off around break-even because nothing was happening! Luckily, some of my other systems made more than up for it so it was a good week after all.

 

In the current market environment, I found this quote by Hedge Fund Market Wizard Larry Benedict very fitting and one of the best pieces of advice you can give any trader (it’s a coincidence that I’m just reading this book):

 

Hedge Fund Market Wizard Larry Benedict

 

News-wise, the French election outcome was largely managed well by the market and the Euro sold off after the news in a classic “buy the rumour, sell the news” type of event. The Euro was being bought for a very long time already, so some pressure on the sell-side was to be expected, as I predicted before the election:

 

 

Last week’s market did set us up with quite some good opportunities for next week, so we’ll go over that in a minute. If you want to keep up to date on setups during the week, have a look at my TradingView page. During the week, I will often publish a chart setup over there as well if I think it’s worth looking at.

 

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