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. 

  • Short GBP/USD. Trend – MT is bear normal. Getting close to the bottom of the monthly range.
  • Waiting USD/JPY. MT is sideways normal. Could go to either edge of the range from here.
  • Short  AUD/USD Breakout – MT is bear normal. The breakout has been strong so far. As with all breakouts watch out for a reversal back into the range. Checkout the monthly chart to see the significance of this level broken by this breakout.
  • Short EUR/USD. Trend – MT is strong bear. Could continue to fall a lot faster than what people think.
  • Short NZD/USD. Breakout – MT is strong bear. The breakout has been quite strong on some negative reports about the Kiwi.
  • Waiting  USD/CHF. MT is volatile sideways.
  • Long USD/CAD. Trend – MT is strong bull. Beware of sharp reversals during strong bull market types. Can be a good idea to have tight stops if you have a position on.
  • Short  AUD/JPY. Breakout – MT is strong bear. Expect the move to continue down to 91.50.
  • Short NZD/JPY Trend – MT is bear normal.
  • Long GBP/NZD. Trend – MT is normal sideways but momentum is strong and plenty of room until the top of the range.
  • Long AUD/NZD. Trend – MT is bull normal. But currently in a pullback that could turn into a reversal.
  • Short EUR/GBP. Breakout – MT is strong bear.
  • Waiting EUR/AUD.  MT is tricky to define.
  • Short EUR/NZD. Breakout – MT is normal bear. Price is holding below the monthly level.
  • Long GBP/AUD. Trend – MT is normal sideways. Similar to the GBPNZD there is strong momentum and room to move until the top of the range.

(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. I will list this with the . 

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 co-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).