Forex Trades Update - 2018-02-14
Forex Trades Update – Feb 14th, 2018
The strategies discussed below are suitable for swing traders.
This is a continuation from our position at Saturday here:
Saturday Forex Analysis - 2018-02-10
JPY
At Saturday I predicted a “Strong Buy with tight stop” for Yen. Well, that was a wrong prediction. It happens though, we can’t always win at trading. Weaker dollar and stronger Yen might be what Trump wants, but it’s not what the Japanese government wants. Let see how this will play out.
Interesting thing to see is that the USDJPY pair is forming support / resistance areas by the 0.5. We have the 108.50, then 107.50, 106.50, and 105.50. Strangely enough the rounded number 105.00 should be a stronger support / resistance, however this is not the case with USDJPY from it’s historical prices.
![JPY – May 3rd, 2016](https://steemitimages.com/640x0/https://s14.postimg.org/urhnxcd1t/2016-05-03_-_jpy.jpg)
![JPY – Nov 17th, 2016](https://steemitimages.com/640x0/https://s14.postimg.org/w6j8m4bkx/2016-11-17_-_jpy.jpg)
![JPY - Feb 14th, 2018](https://steemitimages.com/640x0/https://s14.postimg.org/ww20ygwox/2018-02-14_-_jpy.jpg)
GBP
GBP is moving like we want it to. It bounced a little bit the support trendline and the EMA. Although currently it’s still nearing it’s equilibrium, if the four (4) hour chart is breaking above it’s EMA solidly, I would call it as the start of a bull move.
![GBP – Daily - Feb 14th, 2018](https://steemitimages.com/640x0/https://s14.postimg.org/rkn4dq0bl/2018-02-14_-_gbp.jpg)
AUD & NZD
AUD & NZD are also nicely bouncing the trendline like we predicted. A side note, it is not healthy for AUD price to directly shoot upward. AUD had fallen in quite a vertical “line” that it is expected for AUD to have a consolidation time, making its movement “L” like instead of the unhealthy sharp “V” like.
![NZD - Feb 14th, 2018](https://steemitimages.com/640x0/https://s14.postimg.org/58pbkcw2p/2018-02-14_-_nzd.jpg)
EUR & CHF
EUR & CHF are bouncing in the middle of nowhere zone. I think it’s very risky to enter a new position for either of them.
![CHF - Feb 14th, 2018](https://steemitimages.com/640x0/https://s14.postimg.org/qv4c1ehsh/2018-02-14_-_chf.jpg)
CAD
CAD has been going nowhere. However, from the four (4) hour chart we could see that CAD is trying to break the daily 200-EMA resistance. It’s unclear for me how CAD will perform.
![CAD – Daily - Feb 14th, 2018](https://steemitimages.com/640x0/https://s14.postimg.org/qicxv74nl/2018-02-14_-_cad.jpg)
Things to watch for
Next day after tomorrow, Feb 16th, 2018 is the Chinese / Lunar New Year. (I made a mistake on the last post, it should be at Feb 16th) It’s actually a huge deal, because Most Chinese, Korean, Japanese, and all the Chinese diaspora all around the world will celebrate this holiday. Before this holiday, people will be holding cash to buy gifts and feasts. Which means, after the Lunar New Year, those people will start putting their money into investment.
If this blog post has entertained or helped you, please follow, upvote, resteem and/or consider buying me beers :
![BTC Wallet](https://steemitimages.com/640x0/http://liberviarum.blog/wallet-btc.png)
BTC
![ETH Wallet](https://steemitimages.com/640x0/http://liberviarum.blog/wallet-eth.png)
ETH
![LTC Wallet](https://steemitimages.com/640x0/http://liberviarum.blog/wallet-ltc.png)
LTC
![DOGE Wallet](https://steemitimages.com/640x0/http://liberviarum.blog/wallet-doge.png)
DOGE
![XMR Wallet](https://steemitimages.com/640x0/http://liberviarum.blog/wallet-xmr.png)
XMR
BTC : 1HqYTjRdZvss32vDrp1T8gRAXTgdqfZ6VS
ETH : 0x1fc22bC528ceE3DaA39555269b70e287dda9aE3E
LTC : LdEiGzjcG36EoZoezDu6rZmdwVcSJHazfr
DOGE : DMYx1w5Sr4uoMnNWymn5nMpCuySSr178TA
XMR : 46QngrRwYgAbQJzW2ZJZ8HEuirkUW2bw84ajWhk73DLG8iT9NqgfzSU4ddRZbeAaLgFeL6gAxzVtGZPHJhFmCDXF3ZEwimT
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by liberviarum from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.
@liberviarum, thank you for supporting @steemitboard as a witness.
You can click on your award to jump to your Board of Honor
Once again, thanks for your support!