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 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.

  • Waiting GBP/USD. – MT is sideways volatile. We remain in a sideways MT so prefer to trade the edges. Super Thursday this week with no changes expected to rates.
  • Waiting  USD/JPY. MT is sideways normal. We have a reversal pattern off resistance on the daily charts though both weekly and hourly charts remain bullish. BOJ has said no more easing for now, though fundamentals continue to deteriorate. Prefer to trade this pair to the long side.
  • Waiting AUD/USD. –  MT is sideways normal. We have a bullish engulfing candle but not off any levels. Expect the sideways MT to continue.
  • Sell EUR/USD. Trend– MT is bear normal. Some hawkish talk from the Fed whom are still suggesting a December rate raise is a possibility is bearish for the pair. We are in the middle of a larger sideways range, but for now the momentum is to the downside and a bearish hammer on the daily charts suggests a continuation of the move lower.
  • Buy NZD/USD. Trend – MT is bull normal. China’s rescinding of their one child policy is seen as bullish for NZD as it will increase the demand for milk powder. UBS suggest that just as important is China’s plan to bring more of it’s households into a higher income bracket, thus being positioned to by more infant formula. A bullish engulfing candle suggests upside momentum though MT studies show the bull is turning sideways.
  • Buy USD/CHF. Trend– MT is bull normal. Some selling off the key .99 level but no clear reversal signal as yet. Prefer to buy but best to wait for a clear buy signal.
  • Waiting  EUR/CHF. – MT is sideways normal. A new, slightly lower sideways range looks to be forming with the 1.09 level needing to be held before more upside.
  • Waiting USD/CAD. – MT is sideways volatile. Oil looks like it could bounce from here, though expect it to be temporary. Sitting mid-range for now so prefer to wait.
  • Sell EUR/GBP. Breakout – MT is bear normal. Two bearish engulfing candles in the trend are suggestive of more downside.
  • Waiting AUD/JPY.  – MT is sideways normal. Wait for now, though prefer to look to buy around these levels if stocks continue to stay up.
  • Buy NZD/JPY. Trend – MT is bull normal. Bullish candle formations in uptrend suggest buying but careful of the sideways MT forming.
  • Buy GBP/JPY. Trend – MT is bull normal. Continue to buy, but careful of a sideways range forming.
  • Buy EUR/JPY. Reversal –  MT is sideways normal. Bullish piercing off support provides a buy opportunity.
  • Waiting GBP/NZD. – MT is sideways normal. Wait for now.
  • Short EUR/NZD. Trend– MT is bear normal. Continue short.
  • Short  AUD/NZD. Trend – MT is bear normal. Continue short.
  • Sell EUR/AUD. Trend– MT is bear normal. Bearish piercing on Friday off minor resistance suggests a sell.
  • Waiting GBP/AUD.  – MT is bull normal. Just turned bull normal but with a spinning top on Friday be cautious.
  • Waiting AUD/CAD. –  MT is sideways volatile. Wait for now.
  • Waiting GBP/CAD.  – MT is sideways normal. Wait for now.
  • Sell EUR/CAD. Trend – MT is bear normal. Continue short.
  • Waiting NZD/CAD.  – MT is bull normal. But turning volatile and may switch to sideways.
  • Waiting CAD/JPY. – MT is sideways normal. Wait for now.
  • Buy CHF/JPY. Reversal – MT is sideways normal. a bullish pin candle suggests a contrarian buy from these levels.
  • Buy GBP/CHF. Trend – MT is bull normal. Continue to buy.
  • Buy CAD/CHF. Trend – MT is bull normal. Look to buy.
  • Buy NZD/CHF. Trend – MT is bull normal. Continue to buy.
  • Waiting AUD/CHF. – MT is sideways normal. Wait for now.

Analysis to read:

Marc Chandler

Jim Langlands

Economic calendar for the week ahead:

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

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 (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.