Weekly Forex Trade Planning Session
Analysed Pairs: CAD/JPY, GBP/USD, USD/JPY, USD/CAD, EUR/CAD
Market Overview:
USD & JPY: Bullish
CAD: Mixed
EUR & GBP: Weak
Price Analysis:
CAD/JPY:
Trend: Downtrend
Current Position: At Momentum Low
Outlook: Expecting a bullish pullback in the next phase.
GBP/USD:
Trend: Downtrend
Current Position: Trading at Momentum Low 5
Outlook: Potential for bearish continuation. Watch for a bullish reversal above 1.2186. A break below 1.2160 could signal further downside.
USD/CAD:
Trend: Strong Uptrend
Current Position: After a trend reset breaking the momentum high
Outlook: Avoid buying at the high; wait for a pullback to go long. Alternatively, look for short opportunities if the price breaks below the reset point.
USD/JPY:
Trend: Correction in Downtrend
Current Position: Observing Wave Structure 3
Outlook: Potential for a bullish secondary trend. Using Fibonacci levels, the price has paused at the 61.8% T2 target. If the high of Wave 3 isn't broken, the downtrend may resume.
EUR/CAD:
Trend: Trend-changing pattern after last pullback
Outlook: Look to sell on a break below 1.4860, with targets at 1.4825 and 1.4810.
Happy Trading!
Market Overview:
USD & JPY: Bullish
CAD: Mixed
EUR & GBP: Weak
Price Analysis:
CAD/JPY:
Trend: Downtrend
Current Position: At Momentum Low
Outlook: Expecting a bullish pullback in the next phase.
GBP/USD:
Trend: Downtrend
Current Position: Trading at Momentum Low 5
Outlook: Potential for bearish continuation. Watch for a bullish reversal above 1.2186. A break below 1.2160 could signal further downside.
USD/CAD:
Trend: Strong Uptrend
Current Position: After a trend reset breaking the momentum high
Outlook: Avoid buying at the high; wait for a pullback to go long. Alternatively, look for short opportunities if the price breaks below the reset point.
USD/JPY:
Trend: Correction in Downtrend
Current Position: Observing Wave Structure 3
Outlook: Potential for a bullish secondary trend. Using Fibonacci levels, the price has paused at the 61.8% T2 target. If the high of Wave 3 isn't broken, the downtrend may resume.
EUR/CAD:
Trend: Trend-changing pattern after last pullback
Outlook: Look to sell on a break below 1.4860, with targets at 1.4825 and 1.4810.
Happy Trading!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.