Weekly Market Preview - Public Holiday Monday Musings

in forex •  2 months ago 

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Direct from the desk of Dane Williams,
This is not your average forex broker blog.


Afternoon team,

It's a public holiday Monday in Sydney, so I've been busy spending time with family and enjoying the beautiful spring sunshine that our beautiful city has put on for the occasion.

As a result, this week's market preview is going to be a little light on substance, but will still form the basis of the markets that I see as being close to in-play and therefore what I'm going to be trading within my Inner Circle email this week.

Best of probabilities to you,

Dane.


Technical Analysis

So let's get straight into the charts.

AUD/USD

Daily:
191007-audusd-d1.png

  • Higher time frame bearish trend.
  • Below higher time frame support/resistance.

AUD/USD printed tweezer bottom support and more, over the last couple of weeks.

It now looks like price has held daily resistance and it could be a juicy short this week.

EUR/GBP

Daily:
191007-eurgbp-d1.png

  • Higher time frame bullish trend.
  • Above higher time frame support/resistance.

EUR/GBP has moved higher off support, bouncing off the horizonal zone and then breaking out of the trend line for extra confirmation of the move.

This one is still an active trade from within my Inner Circle email and playing out as analysed over there.

USD/JPY

191007-usdjpy-d1.png

  • Higher time frame bearish trend.
  • Below higher time frame support/resistance.

USD/JPY had retested previous resistance as support, but the level has failed to hold.

When you zoom into an intraday chart, it still amazes me how the zones are respected on retests in both directions. Keep an eye out for an email regarding shorts in this pair.

GBP/CAD

Daily:
191005-gbpcad-d1.png

  • Higher time frame bearish trend.
  • Above higher time frame support/resistance.

GBP/CAD has been respecting a confluence of support on the higher time frame charts.

I went over my thoughts on this cross on the weekend and pretty much gave away my trading strategy here on the blog. It's worth a read and a definite look yourself.


Economic Releases

Sunday:
AUD Daylight Saving Time Shift

Monday:
AUD Bank Holiday
CNY Bank Holiday
USD Fed Chair Powell Speaks

Tuesday:
GBP BOE Gov Carney Speaks

Wednesday:
USD Fed Chair Powell Speaks
USD Crude Oil Inventories
USD Fed Chair Powell Speaks
USD FOMC Meeting Minutes

Thursday:
GBP GDP m/m
GBP Manufacturing Production m/m
CNY New Loans
GBP BOE Gov Carney Speaks
EUR ECB Monetary Policy Meeting Accounts
USD CPI m/m
USD Core CPI m/m

Friday:
CAD Employment Change
CAD Unemployment Rate



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